{"id":12788,"date":"2024-10-10T07:42:53","date_gmt":"2024-10-10T07:42:53","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=12788"},"modified":"2024-10-10T07:42:53","modified_gmt":"2024-10-10T07:42:53","slug":"recent-ripple-xrp-updates-shiba-inu-shib-price-volatility-and-more-bits-recap-oct-10","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=12788","title":{"rendered":"Recent Ripple (XRP) Updates, Shiba Inu (SHIB) Price Volatility, and More: Bits Recap Oct 10"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Ripple won a major cross-border payments award and made progress on its RLUSD stablecoin.
\nSHIB saw high volatility, briefly surged, but then declined; analysts remain cautiously optimistic.
\nBitcoin dropped in early October, but some see potential for recovery.<\/p>\n

<\/a><\/span><\/h2>\n

What\u2019s New Around Ripple (XRP)?<\/h2>\n

The company <\/span>made the<\/span> headlines lately, securing yet another accolade.<\/span> As <\/span>CryptoPotato <\/span><\/em>reported<\/span><\/a>, Juniper Research (an entity <\/span>that specializes<\/span> in delivering in-depth market research and strategic insights for the digital technology sector) awarded Ripple the Platinum prize for best cross-border payments platform in 2024.\u00a0<\/span><\/p>\n

Previously, Ripple <\/span>won<\/span><\/a> the payment prize in the UK\u00a0\u2013\u00a0the PAY360 Awards \u2013 while Fortune Magazine placed it among the top 50 workplaces for technology in 2023.<\/span><\/p>\n

RLUSD \u2013 the firm\u2019s upcoming stablecoin \u2013 has also witnessed some progress. Ripple minted and burned thousands of tokens <\/span>as part of<\/span> the private beta testing phase over the last few weeks. <\/span><\/p>\n

Most recently, the X user Vet claimed<\/a> the XRP Ledger amendment to allow (clawback) tokens like RLUSD to <\/span>be employed<\/span> in the AMM (Automated market makers) \u201cwent through the code review.\u201d They argued that the next step involves \u201csome cosmetics and merge into a new rippled release for validators to vote on.\u201d<\/span><\/p>\n

Despite these developments, XRP keeps underperforming. It plunged<\/a> by double digits to around $0.51 at the start of October when the SEC appealed a 2023 verdict in the case against Ripple. Currently, the token is worth around $0.52 (per CoinGecko\u2019s data), representing a 9.5% decline on a two-week scale.\u00a0<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

SHIB\u2019s Ups and Downs<\/span><\/h2>\n

At one point yesterday (October 9), the popular meme coin was among the top-performing cryptocurrencies. Its solid (albeit brief) increase <\/span>coincided<\/span><\/a> with plunging SHIB exchange reserves and an explosion of the burn rate by over 400%. However, bears stepped in, and the asset\u2019s price is <\/span>well<\/span> in the red today (October 10).
\n<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Despite the enhanced volatility, multiple analysts envision good days ahead. Not long ago, the X user Yoddha <\/span>claimed\u00a0<\/span><\/a>the price pattern had formed a specific triangular shape, which could be followed by a 130% rally\u00a0if broken to the upside. Conversely, Altcoin Daily <\/span>warned<\/span><\/a> investors that ultra-optimistic targets like $0.01 are <\/span>basically<\/span> impossible:<\/span><\/p>\n

\u201cI heard someone talking about\u00a0<\/span>they<\/span> bought\u00a0SHIB because if it only goes to 1c next <\/span>year<\/span>\u00a0<\/span>then\u00a0they<\/span> will be a millionaire.<\/span> This<\/span> is <\/span>literally<\/span> not possible with SHIB\u2019s current market cap. Learn how to value coins in market cap\u00a0vs\u00a0price.\u201d<\/span><\/p>\n

No \u2018Uptober\u2019 for BTC\u2026 Yet<\/span><\/h2>\n

Many <\/span>members of the crypto community<\/span> expected bitcoin\u2019s (BTC) price to surge substantially throughout October since the month has historically been quite successful for the industry in general.<\/span>\u00a0<\/span><\/p>\n

The primary cryptocurrency<\/span>, though,<\/span> started the month on the wrong foot, dropping from over $65K at the end of September to $60K a few days later.<\/span> It recovered some losses, rising to almost $64,000 on October 7 before taking another turn south. <\/span>Currently,<\/span> BTC trades at around $61,000, or a 5% decrease in the past two weeks.<\/span>\u00a0<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

According to<\/span> some market observers<\/span>, <\/span>the asset may soon return to the green track.<\/span> X user Ash Crypto <\/span>speculated<\/span><\/a> that BTC has broken out from the falling wedge pattern in the weekly pattern and escaped the 6-month descending channel. As such, they predicted a possible \u201cbounce from here.\u201d<\/span><\/p>\n

The post Recent Ripple (XRP) Updates, Shiba Inu (SHIB) Price Volatility, and More: Bits Recap Oct 10<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple won a major cross-border payments award and made progress on its RLUSD stablecoin. SHIB saw high volatility, briefly surged, but then declined; analysts remain cautiously optimistic. Bitcoin dropped in early October, but some see potential for recovery. What\u2019s New Around Ripple (XRP)? The company made the headlines lately, securing yet another accolade. As […]<\/p>\n","protected":false},"author":0,"featured_media":12789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12788"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12788"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12789"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}