Weekend Crypto Highlights: XRP Milestone, Bitcoin Transfer, and Shiba Inu Breakout

XRP Reaches $1 Milestone

XRP has achieved a significant price milestone, reaching $1, as its market cap surged by 26.76% to $57.98 billion and trading volume hit $13.13 billion. This price movement resembles XRP's 2017 trajectory when it hit an all-time high of $3.30. Factors contributing to this rise include its recent listing on Robinhood, Ripple's progress in its ongoing SEC case, and speculation around a dirham-backed stablecoin. Additionally, Bitwise's plan to convert its Crypto Index Fund into an ETF, which would include XRP, has bolstered market optimism. Currently, XRP is trading at $1.14, marking a 1.33% increase over the past 24 hours.

Satoshi-Era Bitcoin Movement

A dormant Bitcoin address from the Satoshi-era recently activated, transferring 2,000 BTC worth approximately $180 million. These coins were mined in 2010, a pivotal year for Bitcoin's development, featuring the launch of the first BTC exchange and notable transactions like the infamous pizza purchase. Despite the age of the coins, the likelihood of this wallet being linked to Bitcoin's creator, Satoshi Nakamoto, remains low. In 2010, miners produced 3.39 million coins, marking the beginning of a rise in mining difficulty. Currently, Bitcoin's market value is $1.772 trillion, trading at $89,501.

Shiba Inu's Potential Breakout

Shiba Inu (SHIB) might be on the brink of a significant breakout, driven by technical patterns on its chart. Following a 71.5% rally earlier this month, SHIB's price has corrected by 20%, settling at $0.000024. This correction is considered healthy, given its previous performance. SHIB may revisit $0.00003, representing a potential 23% increase, supported by bullish Fibonacci retracement signals. A golden cross is forming on SHIB's daily chart, historically leading to substantial price increases. Previously, a golden cross resulted in a 450% price surge between December 2023 and March 2024. SHIB aims to reach its all-time high of $0.00009, which would mean a 264% increase from its current value, potentially restoring its market cap to nearly $40 billion. However, achieving this goal remains uncertain under current economic conditions.