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Ripple (XRP) Price Predictions, Recent Binance Changes, and More: Bits Recap July 4th
As the market continues to evolve at an incredible pace, it’s essential for investors and enthusiasts alike to stay updated on the latest developments. In this week’s recap, we’ll be discussing Ripple (XRP) price predictions, significant updates from Binance, and more.
Ripple (XRP) Price Predictions
Despite a daily decline of approximately 2.5%, the XRP price has surged by 6% over the past week, maintaining its bullish momentum. As you may have expected, this growth has sparked numerous forecasts for the cryptocurrency’s future performance. The community is divided, with some anticipating a move to $2.65 or even $3, while others are eyeing an unprecedented surge to $30.
World of Charts, a well-known XRP enthusiast, recently claimed that the token had already broken out and retested its previous high, forecasting an imminent pump above this level. Maxi, on the other hand, sees potential for XRP to mirror its remarkable performance from late 2017, which could lead to a staggering 1,200% increase within a matter of days. A rise of that magnitude would propel the price to a new all-time high around $30, although this appears unlikely at present.
Other notable analysts have produced more conservative predictions, such as Ali Martinez and Crypto Beast. The former suggested XRP could be forming an inverse head and shoulders pattern, potentially setting the stage for a 15% breakout to $2.65. Crypto Beast, meanwhile, expects the token to triple its value during this ongoing bull run.
Recent Binance Changes
As part of their efforts to continue innovating and improving user experience, Binance has made several notable changes recently. Firstly, they have added Newton Protocol (NEWT) and Sahara AI (SAHARA) as new loanable assets on their VIP Loan program. Unfortunately, this change was met with significant price corrections for the affected tokens.
Furthermore, the exchange removed four spot trading pairs: ACT/EUR, FIO/BTC, TNSR/FDUSD, and TST/FDUSD. As we know from past experience, such actions often negatively impact the coins in question due to reduced liquidity, decreased visibility, and reputational damage. FIO suffered the most significant blow, dropping by 8% following this change.
On a more positive note, Binance has launched new staking opportunities for SOL-related tokens. This will allow users to earn up to 6.5% APR on their holdings of SOL, HODL, sBNSOL, or bzSOL. As if that wasn’t enough, the exchange teased that something new is coming soon.
How’s Bitcoin (BTC) Performing?
The leading cryptocurrency, Bitcoin (BTC), has seen its fair share of action over the past few months. It reached an unprecedented all-time high in May, with the price reaching nearly $112,000. While it experienced a slight pullback since then, BTC still managed to close Q2 at around $107,500 – a new quarterly record.
As expected, some experts are anticipating a rally towards $120,000, while others envision a short-term drop to $90,000 due to potential US Treasury shifts and liquidity fluctuations. However, Arthur Hayes (co-founder of BitMEX) remains optimistic about the long-term prospects for Bitcoin.
The Binance update is an essential part of this recap since it sheds light on some crucial changes that have occurred in recent times.
Source: cryptopotato.com
