Pakinomist – Here are the top three news stories of the past weekend, brought to you by Pakinomist.
Bollinger Bands are ringing warning bells for XRP versus
After a remarkable week in which XRP rose by over 24%, concerns have arisen that this bullish trend may soon come to an end. The price of the Ripple-linked token has surged 35% in just six days, reaching an all-time high of $3.40, a level not seen in seven years. For example, XRP rose 12% against Bitcoin and 26% against . At one point, XRP was 30% stronger than Bitcoin, but with a rate of 0.0000342 BTC for 1 XRP, it seems that the market has hit a valuation ceiling between the two cryptos. The Bollinger Bands indicator also suggests that XRP may have hit a ceiling in its valuation against BTC. In the case of XRP-Bitcoin, XRP has reached the higher band against Bitcoin on both a daily and weekly basis. Given this, it seems more likely that XRP will fall against BTC rather than continue to rise. If the median provides strong support, XRP could see a 10% decline or 31% if the decline continues until the lower band is reached.
Quarter of a billion dollars in Bitcoin shocks the major US exchange Coinbase (NASDAQ:)
According to data provided by Whale Alert, on Friday, January 17, 2,501 Bitcoins worth approximately $256.4 million were transferred to Coinbase International. The recipient 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 indicate that the wallet is controlled by an entity rather than an individual, as it has connections to a Coinbase Prime address and still has 10,115 BTC worth $1.05 billion. The large transfer raises concerns about a potential sell-off, as it could indicate that a significant holder is planning to liquidate their Bitcoin, potentially affecting market prices. In addition, the timing of the transaction, just before the weekend, can amplify its effects on trading volumes and price movements. At the time of writing, BTC is trading at $107,736, up 2.37% over the last 24 hours, per CoinMarketCap.
exec makes bold 2025 stablecoin prediction: Details
In a recent X post, Jack McDonald, SVP of Stablecoin at Ripple, has predicted that 2025 will be “the year of the stablecoin”. McDonald stated that progress in US regulation will provide clearer guidelines and standards, which is expected to increase trust and facilitate wider adoption of stablecoins. “Ripple and RLUSD are ready to lead the charge,” the director wrote at the end of his post. As a reminder, RLUSD was launched globally on December 17 with the aim of enhancing Ripple’s cross-border payment solutions, especially in response to the growing demand for USD-denominated stablecoins in regions such as APAC, EU and Australia. Currently, the stablecoin market has a cap of nearly $216 billion, with projections reaching nearly $3 trillion in the next five years.
