XRP Could Drop Back Below $0.60, Predicts Analyst; Ancient Bitcoin Wallet Awakens With 10,817 Profit; 2,020,624,700 SHIB Burned in Just One Hour: Crypto News Digest by U.Today
2024-12-04

U.Today has prepared the top three news stories over the past day.
XRP predicted to drop back below $0.60 by major analyst
According to a recent prediction by X user IncomeSharks (more than 500,000 followers), XRP could face a significant price correction, potentially dropping below the $0.60 mark. He noted that nearly half of XRP's total supply is not in circulation, with Ripple holding 38.9 billion tokens in escrow. "There's a reason this space collectively dislikes this token because it's always pumping and dumping," wrote IncomeSharks in the conclusion of his X post. Per Weiss Crypto, factors contributing to XRP's recent rally include anticipated regulatory approval for Ripple's RLUSD stablecoin and the potential launch of an XRP ETF. While the community is abuzz about the possibility of XRP's price reaching $100, there are some who are skeptical about such an outcome due to the token's history of severe downturns. For example, in April 2021, XRP spiked to nearly $2 but ended up collapsing nearly 75% within just two months.
Ancient Bitcoin wallet revives with staggering 10,817% profit
Yesterday, Whale Alert blockchain tracker spotted an ancient whale, who resurfaced after a dormancy of 10.9 years. The whale executed two transfers of 50 Bitcoin in total, moving 47 BTC to an unknown address and 3 BTC to a Coinbase exchange-designated wallet. As stated in Whale Alert's X post, the whale received the funds back in 2014 for a mere $44,030, when Bitcoin was valued at $880.60 each. Nowadays, the lucky address holds a stash worth approximately $4,806,870, which reflects an incredible return of 10,817%. At the moment of writing, Bitcoin's price is standing at $95,754, up 1.87% over the past 24 hours, per CoinMarketCap. While the rise of dormant BTC whales might exert selling pressure on the market, the prevailing enthusiasm is supporting Bitcoin's overall growth.
2,020,624,700 SHIB in just one hour – What's going on?
Data from blockchain wallet tracker Shibburn indicates that an anonymous whale has recently burned a substantial amount of SHIB tokens in a single transaction. Over the past 24 hours, the Shiba Inu community has been particularly active, managing to dispose of approximately 2,022,950,833 SHIB across seven transactions. Of this total, an impressive 2,020,624,700 SHIB (worth $59,608) were sent to an unspendable address in a single transfer by the anonymous whale. Per Shibburn's report, the burn of 2.022 billion Shiba Inu has pushed the burn rate to an impressive 3,162.56%. In the comments following Shibburn's X post about the burn of 2.020 billion SHIB, users shared that this significant amount of meme coins was burned by @Shibtoshi_SG, the founder of SquidGrow. Interestingly, this individual had also burned just over one billion SHIB in a single transaction the previous week.