PK Press Club – Here are the top three news stories from last weekend brought to you by PK Press Club.
Bollinger Bands Sound Alarm for XRP Over
After a remarkable week in which XRP surged over 24%, fears are emerging that this uptrend is over. The price of the Ripple-affiliated token surged 35% in just six days, reaching an all-time high of $3.40, a level not seen in seven years. For example, XRP gained 12% against Bitcoin and 26% against Bitcoin. At one point, XRP was 30% stronger than Bitcoin, but at a rate of 0.0000342 BTC per 1 XRP, it appears the market has reached a valuation ceiling between the two cryptos. The Bollinger Bands indicator also suggests that XRP may have reached a ceiling in its valuation relative to BTC. In the case of XRP-Bitcoin, XRP has reached the upper band against Bitcoin on a daily and weekly basis. Given this, it seems more likely that XRP will decline against BTC rather than continue to rise. If the median provides significant support, XRP could see a decline of 10%, or 31% if the decline continues until the lower band is reached.
A quarter of a billion dollars in Bitcoin surprises the main American exchange Coinbase (NASDAQ:)
According to data provided by Whale Alert, on Friday, January 17, 2,501 Bitcoins, worth approximately $256.4 million, were transferred to Coinbase International. The receiving address, “bc1q5y”, was activated just a week ago and had minimal activity until it received a deposit of 2,502 BTC from another unknown address, “bc1qe2n7” . This transaction may suggest that the wallet is controlled by an entity rather than an individual, as it is connected to a Coinbase Prime address and still holds 10,115 BTC, worth $1.05 billion. This large transfer raises concerns about a potential sell-off, as it could indicate that a large holder is considering liquidating their Bitcoin, which could impact market prices. Additionally, the timing of the transaction, just before the weekend, could amplify its effects on trading volumes and price movements. At the time of writing, BTC is trading at $107,736, up 2.37% in the last 24 hours, according to CoinMarketCap.
Executive Makes Bold Stablecoin Prediction for 2025: Details
In a recent X article, Jack McDonald, SVP of Stablecoin at Ripple, predicted that 2025 would be “the year of the stablecoin.” McDonald said progress in U.S. regulations will provide clearer guidelines and standards, which should build trust and facilitate broader adoption of stablecoins. “Ripple and RLUSD are ready to lead the charge,” the executive wrote at the end of his message. As a reminder, RLUSD launched globally on December 17, aiming to enhance Ripple’s cross-border payment solutions, particularly in response to the growing demand for USD-denominated stablecoins in regions like APAC , the EU and Australia. Currently, the stablecoin market has a cap of nearly $216 billion, with projections reaching nearly $3 trillion over the next five years.
