Analyst Says XRP Price Not Reaching $10+ Due To Market Cap Is Irrelevant

Bitcoin experienced a brief surge following the Federal Reserve's announcement of an interest rate cut, reaching a monthly high close to $118,000. However, despite this initial rally, the price has since dropped to $115,000, indicating that while the market reacted positively to the news, Bitcoin is not yet in a position of strong recovery. This situation is significant as it reflects the ongoing volatility in the cryptocurrency market and the impact of macroeconomic factors on digital assets.

Grayscale has made a significant move in the cryptocurrency market by launching the first multi-token ETF in the U.S., named the Grayscale CoinDesk Crypto 5 ETF. This innovative fund, which trades on the New York Stock Exchange under the ticker GDLC, includes the five largest and most liquid cryptocurrencies. This launch is important as it opens up new investment opportunities for both institutional and retail investors, potentially increasing mainstream adoption of digital assets.

Dogecoin is showing signs of potential growth, with analyst Ali Martinez suggesting it could rally to $0.36 or even $0.45 if it breaks through a key resistance level. This technical analysis highlights a 'Parallel Channel' pattern, indicating that Dogecoin is consolidating between two trendlines. Such patterns often precede significant price movements, making this a crucial moment for investors and enthusiasts alike.

Bitcoin has seen a significant drop recently, losing the gains made after the US Federal Reserve's interest rate cut. However, experts believe that the long-term outlook for Bitcoin is still bright, especially with September 21 on the horizon, a date that could be crucial for its price movement. This is important because it highlights the resilience of Bitcoin and the potential for recovery, making it a key moment for investors and enthusiasts alike.

Recently, X revealed that crypto scammers attempted to bribe its employees to reinstate suspended accounts, highlighting the ongoing battle against malicious activities on social media platforms. This incident underscores the vulnerabilities that social networks face and the lengths to which scammers will go to exploit them, raising concerns about user safety and the integrity of online communities.

Grayscale has launched the first multi-asset crypto ETF on NYSE Arca, allowing investors to gain diversified exposure to five major cryptocurrencies. This innovative fund represents a significant step forward in the digital asset space, making it easier for investors to navigate the complexities of cryptocurrency investments. With this launch, Grayscale is not only expanding its product offerings but also enhancing the accessibility of crypto investments for a broader audience.

Public firms are increasingly raising significant capital for cryptocurrency strategies, signaling a growing institutional demand in the market. This trend is important as it reinforces investor expectations for another historic altcoin market cycle, suggesting that the crypto space is gaining traction and legitimacy among traditional investors.

Bitcoin has seen an impressive surge of 630% this cycle, raising questions about whether it can continue to defy the trend of diminishing returns. This matters because if Bitcoin can maintain its upward trajectory, it could signal a new era for cryptocurrency investments, attracting more interest and potentially leading to greater market stability.

Bitcoin.com recently published a hands-on review of ForumPay, a platform that aims to simplify digital payments using cryptocurrency. This review is significant as it highlights the growing trend of integrating cryptocurrencies into everyday transactions, showcasing how ForumPay could enhance user experience and accessibility in the digital payment landscape.

Bitcoin's illiquid supply has reached a record 14.3 million BTC, with over 72% of circulating Bitcoin now considered illiquid. This trend indicates a decrease in sell-side pressure, which could lead to a more stable market as big investors accumulate. The growing illiquidity suggests that many holders are not looking to sell anytime soon, potentially driving prices up in the future.

After a lengthy seven-month delay, Michigan's bill to allow the state treasury to invest up to 10% of its reserves in bitcoin and other cryptocurrencies is finally making progress. This advancement is significant as it reflects a growing acceptance of digital currencies in state financial strategies, potentially paving the way for more innovative investment approaches and economic growth.

Moneygram has launched a new service that utilizes stablecoins for cross-border transactions in Latin America, marking a significant step in the evolution of digital finance. This initiative is important as it aims to provide faster and more cost-effective remittance options for users in the region, potentially transforming how money is transferred internationally. With the growing acceptance of cryptocurrencies, this move could enhance financial inclusion and streamline transactions for millions.

Bitcoin experienced a brief surge following the Federal Reserve's announcement of an interest rate cut, reaching a monthly high close to $118,000. However, despite this initial rally, the price has since dropped to $115,000, indicating that while the market reacted positively to the news, Bitcoin is not yet in a position of strong recovery. This situation is significant as it reflects the ongoing volatility in the cryptocurrency market and the impact of macroeconomic factors on digital assets.

Recent data indicates that Bitcoin traders remain bearish, with short positions exceeding long ones by 485 BTC. This trend persists despite a recent price recovery, highlighting ongoing skepticism among investors in the derivatives market. Understanding this sentiment is crucial as it reflects broader market confidence and can influence future price movements.

Digitap has successfully raised $100k for its live crypto card app, coinciding with Ripple's recent victory over the SEC, which has cleared XRP for retail sales. This development is significant as it not only marks the end of a lengthy legal battle but also opens up new opportunities for Digitap to capitalize on the momentum in the cryptocurrency market. With Ripple's legal hurdles behind them, the stage is set for innovation and growth in the crypto space.

Bybit has announced that it will now accept a DFSA-approved tokenized money market fund as collateral, marking a significant step in the integration of traditional finance with the cryptocurrency sector. This move not only enhances the credibility of digital assets but also provides users with more options for leveraging their investments. As regulatory frameworks evolve, Bybit's decision reflects a growing acceptance of innovative financial products, which could attract more institutional investors to the crypto space.

Economist Timothy Peterson is optimistic about the cryptocurrency market, predicting an imminent alt season fueled by upcoming rate cuts from the Federal Reserve. Following a recent 0.25% rate cut, Peterson believes that these changes will not only boost Bitcoin but also invigorate the entire altcoin market. This is significant as it suggests a potential resurgence in crypto investments, attracting both new and seasoned investors looking to capitalize on the anticipated market rally.

The White House is actively seeking new pro-crypto candidates to lead the Commodity Futures Trading Commission (CFTC) as the confirmation of Brian Quintenz, initially chosen by President Trump, faces delays. This move signals a commitment to fostering a more crypto-friendly regulatory environment, which could encourage innovation and investment in the cryptocurrency sector. As the market evolves, having supportive leadership at the CFTC is crucial for navigating the complexities of digital assets.