This news digest covers key developments in the cryptocurrency market, including XRP's potential price correction against Bitcoin, a massive Bitcoin transfer to Coinbase, and Ripple's prediction for the future of stablecoins.
XRP 's recent surge against Bitcoin , reaching a seven-year high of $3.40, has triggered warnings from the Bollinger Bands indicator. The indicator suggests that XRP 's bullish trend against BTC may be nearing an end, with a potential decline of 10% or even 31% if the lower band is reached. This comes after XRP 's impressive 35% rally in just six days, outperforming both Bitcoin and Ethereum.
Meanwhile, a staggering $250 million worth of Bitcoin was transferred to Coinbase International's receiving address 'bc1q5y,' raising concerns about a potential market sell-off. The transfer, originating from another unknown address 'bc1qe2n7,' has connections to a Coinbase Prime address and still holds 10,115 BTC, valued at $1.05 billion. This large-scale transaction, executed just before the weekend, could significantly impact trading volumes and price movements.Adding to the crypto news, Ripple's executive director, McDonald, boldly predicted that 2025 will be 'the year of the stablecoin.' He attributes this prediction to advancements in U.S. regulation, which will provide clearer guidelines and standards, driving trust and wider adoption. McDonald expressed confidence that Ripple and its RLUSD stablecoin are well-positioned to lead this charge, particularly in regions with strong demand for USD-denominated stablecoins
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Ripple Shovels Millions of RLUSD into Exchanges as XRP Sees Large Coinbase TransferRecent blockchain activity reveals that anonymous wallets linked to Ripple are actively introducing large quantities of their new stablecoin, RLUSD, into cryptocurrency exchanges. Concurrently, a substantial transfer of XRP, totaling over 30 million coins, has been detected moving to Coinbase, the largest US-based crypto exchange.
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