PakGazette: Here are the top three stories from last weekend brought to you by PakGazette.
Bollinger Bands Ring Warning Bells for XRP Versus
After a notable week that saw XRP rise by over 24%, concerns are emerging that this bullish trend will soon come to an end. The price of the Ripple-affiliated token has increased 35% in just six days, reaching an all-time high of $3.40, a level not seen in seven years. For example, XRP gained 12% against Bitcoin and 26% against Bitcoin. At one point, XRP was 30% stronger than Bitcoin, but at a rate of 0.0000342 BTC to 1 The Bollinger Bands indicator also suggests that XRP may have peaked in its valuation against BTC. In the case of XRP-Bitcoin, XRP has reached the highest band against Bitcoin on both a daily and weekly level. With this in mind, it seems more likely that XRP will decline against BTC rather than continue rising. If the median provides strong support, XRP could see a drop of 10%, or 31% if the drop continues until reaching the lower band.
A quarter of a trillion dollars in Bitcoin surprises the major US exchange Coinbase (NASDAQ:)
According to data provided by Whale Alert, on Friday, January 17, 2,501 Bitcoin, valued at approximately $256.4 million, were transferred to Coinbase International. The receiving address, “bc1q5y”, was activated just a week ago and had minimal activity until it received a deposit of 2,502 BTC from another unknown address, “bc1qe2n7”. This transaction may suggest that the wallet is controlled by an entity rather than an individual, as it has connections to a Coinbase Prime address and still contains 10,115 BTC, worth $1.05 billion. The large transfer raises concerns about a possible liquidation, as it could indicate that a large holder plans to liquidate their Bitcoin, which could affect market prices. Additionally, the timing of the transaction, just before the weekend, could amplify its effects on trading volumes and price movements. At the time of writing, BTC is trading at $107,736, up 2.37% in the last 24 hours, according to CoinMarketCap.
Executive Makes Bold Stablecoin Prediction by 2025: Details
In a recent X post, Jack McDonald, SVP of Stablecoin at Ripple, predicted that 2025 will be “the year of the stablecoin.” McDonald stated that advances in US regulation will provide clearer guidelines and standards, which is expected to improve trust and facilitate broader adoption of stablecoins. “Ripple and RLUSD are ready to lead the charge,” the executive wrote at the end of his post. As a reminder, RLUSD launched globally on December 17, aiming to enhance Ripple’s cross-border payment solutions, particularly in response to the growing demand for dollar-denominated stablecoins in regions such as APAC, the EU, and Australia. The stablecoin market is currently capped at nearly $216 billion, with projections reaching nearly $3 trillion in the next five years.
