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Top Cryptocurrency News: XRP Breakout, MicroStrategy's Nasdaq Potential, and Bitcoin Miner Milestone

Explore key updates in the cryptocurrency world, including XRP's potential breakout, MicroStrategy's Nasdaq inclusion, and Bitcoin miners' revenue milestone.
Published on 2024-12-13

XRP Breakout Potential

XRP's price chart currently exhibits a promising setup, trading within a descending price channel. This pattern suggests a potential breakout, driven by a parabolic rise followed by consolidation. XRP's price shows resilience near the $2.30 support level, maintaining higher lows and indicating bullish momentum. The trading volume remains consistent, and the relative strength index suggests strength despite recent declines. The upper boundary of the channel at $2.50 is crucial; a break above this could push XRP to previous highs, with targets at $2.80 and the psychological $3 mark. The next 48 hours are critical for XRP as it approaches the channel's peak.

MicroStrategy's Nasdaq 100 Prospects

MicroStrategy stands a 90% chance of being added to the Nasdaq 100 index, according to Polymarket bettors. Alongside MicroStrategy, Axon Enterprise and Palantir Technologies are also expected to join the index. Meanwhile, Super Micro Computer and Moderna may be removed. MicroStrategy's stock has skyrocketed by 500% year-to-date, with a market cap exceeding $100 billion. The company recently made a significant Bitcoin purchase, bringing its holdings to $42 billion. A decision on MicroStrategy's inclusion in the Nasdaq 100 is anticipated today, December 13.

Bitcoin Miners Reach Revenue Milestone

Bitcoin miners have reached a significant milestone, earning a cumulative $71.49 billion as of December 5. On the same day, Bitcoin's price surpassed $100,000, briefly pushing its market cap beyond $2 trillion. Miners' earnings include $67.31 billion from block subsidies and $4.18 billion from transaction fees. To date, 19,791,952 BTC have been mined, representing 94.2% of the total 21 million supply cap. Since the Genesis Block, 873,304 blocks have been mined, with an average block time of 11.8 minutes. Bitcoin has processed over 1.12 billion transactions and facilitated a total transfer volume of $131 trillion.

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