Ripple CTO Addresses XRP Price Speculation, Samson Mow Explains How Government Can 'Confiscate' Your BTC, SHIB May Form Golden Cross in 10 Days: Crypto News Digest by U.Today
2024-10-23

U.Today presents the top three new stories over the past day.
XRP price prediction: Ripple CTO breaks silence on speculation
David Schwartz, Ripple's chief technology officer, has addressed speculation surrounding the future price of XRP in a recent interaction on the X platform. Responding to an X user asking whether XRP’s true value might be realized within a year or two, or by 2027, 2028 or 2030, Schwartz wrote that he knows "no method to predict the future prices of cryptocurrencies." The question arose following the regulator's decision not to appeal XRP's nonsecurity status, which brought some regulatory clarity. However, Schwarz's response suggests that, despite this win for Ripple, predicting when or if XRP will experience the anticipated price surge remains uncertain. At the moment of writing, XRP is changing hands at $0.52, down 1.48% over the past 24 hours, per CoinMarketCap.
Here's how government can "confiscate" your Bitcoin: Samson Mow
In a recent X post, JAN3 CEO Samson Mow has commented on an interview with MicroStrategy founder Michael Saylor, who stated that he does not believe the U.S. government can confiscate Bitcoin. Saylor criticized those in the Bitcoin community who choose to hold their private keys instead of trusting custodians, comparing their concerns to the 1933 Executive Order 6102, which restricted private gold ownership. According to Saylor, back then, people willingly handed in their gold, and that fears about Bitcoin confiscation are unfounded, calling those who worry about it "paranoid crypto anarchists." In response, Mow wrote that while the government might not need to physically confiscate Bitcoin, it could instead lock custodial BTC into approved custodians forever, which would result in diminishing of Bitcoin's value and utility. He pointed out that the government has a strong interest in attacking Bitcoin, as its limited supply reduces the value of what it prints, requiring it to print more and at a faster pace.
Possible Shiba Inu SHIBUSD golden cross in 10 days: Now or in 2025?
According to the latest on-chain data, Shiba Inu may form a golden cross within the next 100 days. This technical pattern is often referred to as bullish on financial markets and might be thrilling for traders and investors, but SHIB's price history suggests that it may not lead to the surge that many hope for. The last golden cross in December 2023 failed to ignite an immediate price increase; instead, the meme coin lost momentum for a while, and the golden cross itself had nothing to do with the eventual growth that did occur. It is crucial to keep expectations in check as, while golden crosses are typically considered positive indicators, they do not guarantee consistent growth, especially for meme coins like SHIB. Additionally, the token has faced a decline over the past year, and its future price movements may rely more on broader market trends and community hype than on this technical signal. If the golden cross occurs, it could signal a potential long-term recovery, but it is unclear if this will happen before or after 2025.