Bitcoin (BTC) Price Rally Speculations, XRP Price Predictions, Memecoins Booming: Bits Recap Oct 30
TL;DR
- Ripple (XRP) recent price at ~$0.55; predictions range from $220 to a bold $500, though both seem implausible.
- Bitcoin (BTC) crossed $35,000; SEC’s potential ETF approval could cause major volatility, with predictions ranging from below $20K to $180K in five years.
- DOGE and SHIB up by 10% and 12% weekly; FLOKI surged 100% and PEPE 70% in two weeks, indicating trader interest.
Can Ripple (XRP) Explode to $220?
The prices of most cryptocurrencies have been on an uptrend in the past week, with Ripple’s native token – XRP – among the examples. It currently trades at around $0.55 (per CoinGecko’s data), representing a 6% increase compared to the figures a week ago.
The positive sentiment reigning in the crypto community has caused analysts to lay out numerous predictions regarding the asset’s performance in the future, and some have been extremely bullish.
According to the popular X (Twitter) user CryptoBull, XRP could skyrocket to a staggering $220 in the next bull run, assuming it follows patterns observed in previous price rallies.
It is worth mentioning that the asset’s market capitalization should surpass $100 trillion for this to happen, making the forecast sound preposterous, to say the least. Another person who came up with an even wilder bet is the crypto analyst Shannon Thorp.
Not long ago, she suggested XRP’s valuation could blast to $500 in the following years. Needless to say, her prediction is also implausible to become a reality.
Those willing to find out how high the coin could surge in the remaining months of 2023 could take a look at our dedicated video below:
What About Bitcoin (BTC)?
The primary cryptocurrency has also been a subject of increased interest ever since touching the $35,000 mark for the first time in over a year and a half. Its impressive price performance lately was most likely influenced by the arising rumors that the US Securities and Exchange Commission (SEC) could finally approve BlackRock’s application to launch a spot BTC ETF in America.
Multiple experts have argued that such a development could act as a catalyst and propel an astronomical price rally for the asset. One example is the crypto analyst using the X handle Pentoshi. They believe BTC could experience enhanced volatility once the SEC gives its nod and even plunges below $20K. On the other hand, “the upside could be 180K in the next 5 or so years,” they assumed.
On the more negative end and somewhat expected, Peter Schiff said that an approval of a spot Bitcoin ETF would likely mark the end of its ongoing rally.
Those curious to learn all the other factors that caused Bitcoin to spike by nearly 30% in the past month could watch our clip:
Memecoins Have Been in the Spotlight
Last but not least, we will touch upon the significant price increase of some of the most popular memecoins. The largest by market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB) – have been on the rise by over 10% and 12% (respectively) on a weekly basis.
However, it was Floki Inu (FLOKI) and Pepe Coin (PEPE) that made the headlines. The former has spiked by almost 100% in the past two weeks, while the latter has jumped by over 70% in the same period, hinting about a freshly generated hype among traders.
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