Widely-followed trader and crypto strategist Scott Melker is saying he’s bullish on the fourth-largest cryptocurrency.
In a new tweet, the analyst known in the industry as the Wolf Of All Streets tells his 133,000 followers that he believes XRP can rise to $0.33, which represents an increase of over 22% from its current price of $0.27.
“XRP (USD) They laughed at me when I shared this trade. But who’s laughing now? I am, I’m laughing because it’s XRP. Profitable though.”
Melker’s bullish call comes as crypto intelligence platform Santiment is reporting substantial growth in the number of whales invested in Ripple’s native asset.
“XRP has had an impressive +8.4% week, and it’s currently the #1 rising asset in discussion rate on crypto platforms. The rise of holders with coins containing large amounts of XRP has been very apparent, as addresses with 10-1M tokens are at new all-time highs.”
Santiment also reveals the distribution of addresses according to their XRP balance:
In his own XRP price analysis, a popular crypto strategist named Dave the Wave shared a chart earlier this month showing that XRP may be carving a long-term bottom after printing a 2020 low of $0.09. The chart reveals that should XRP breach resistance of $0.30, it could target $0.50.
Bitcoin is Poised to Rally Towards $17,000 Next as Outlook Grows Bright
- Bitcoin has seen a quiet weekend of trading, with the cryptocurrency struggling to gain any immense momentum as bulls and bears reach an impasse
- This has led to a prolonged bout of sideways trading around $16,000, with bulls and bears both struggling to gain control of its near-term
- Its recent price action has done little to provide any insights into where it might trend over a mid-term time frame
- That being said, one analyst is now noting that a rally up towards $16,600 and beyond could be imminent in the near-term
- He is pointing to one key level that must be broken above for it to rally higher
Bitcoin and the aggregated crypto market are currently consolidating, with buyers and sellers both struggling to gain any control over its near-term outlook.
Where the entire market trends next will depend on BTC, and there’s a solid chance that a prolonged bout of sideways trading will actually bode well for altcoins.
One trader is now looking towards $16,600 as a near-term target, noting that a break above $16,150 must come about first.
At the time of writing, Bitcoin is trading down marginally at its current price of $16,000. This is where it has been trading throughout the past few days and weeks, with buyers and sellers unable to spark any near-term trend.
Where the cryptocurrency trends in the near-term will have a large impact on altcoins, as they have been rallying as a result of BTC’s stability.
It does need to close its weekly candle tonight above $16,000 to see any strength in the week ahead. A close below this level could strike a serious blow to the aggregated cryptocurrency market.
While speaking about Bitcoin’s technical outlook, one analyst explained that the benchmark cryptocurrency could soon push past $16,600 if it can reclaim one key level.
This level sits at $16,150 and could soon be surmounted by the crypto – if bulls can gain momentum.
“BTC – Highs are looking ripe for the taking. A move to $16.6k should take care of that. Further confirmation on a reclaim of $16,150.”
Image Courtesy of UB. Source: BTCUSD on TradingView.
The coming few hours should shine a light on where the entire market will trend in the days and weeks ahead.
Author: Written by News
CoinsBee Review: Using Bitcoin Or Altcoins To Buy Gift Cards For The Holidays
The holiday season is quickly approaching. With social distancing measures still in place in many places, along with new restrictions on get-togethers over a certain capacity, giving gifts is certainly going to be far more challenging.
However, using CoinsBee and cryptocurrencies, one can purchase gift cards easily and then send them to loved ones with little to no effort. Read our review to find out how CoinsBee is reshaping the holiday shopping season and redefining the gifting culture.
Initially buying a gift card would require a trip to a brick and mortar store where a card valued in specific denominations were made available around the holidays.
The explosion of e-commerce platforms transformed gift cards and made them something that also offers additional value for customers.
Today finance itself is moving increasingly toward the digital age. Bitcoin and altcoins are now nearly as mainstream as dollars and cents. But using them isn’t always so easy, until recently.
More and more companies are emerging that let users spend cryptocurrencies or use them in some way. DeFi allows users to lend and borrow, and platforms like CoinsBee encourage adoption and usage over just holding alone.
CoinsBee lets users buy gift cards from over 500 major brands and retailers, ranging from the biggest and the best to smaller platforms with niche followings.
Rather than letting BTC or altcoins sit in a wallet only to sell someday, crypto holders can now use some of their digital coins and contribute to the growing ecosystem, all while getting something in return.
The gift cards themselves don’t have to be given as gifts and instead can allow crypto holders to turn their coins into cards for services like the PlayStation Store, Steam, Xbox Live, and more.
Value cards for mobile phone credits are also in abundance, as are general payment cards like VISA or Mastercard debit cards. A full range of eCommerce gift vouchers, certificates, and cards for companies like Apple, Amazon, Netflix, and Spotify make sure that all the most popular services and stores are covered, and then some.
CoinsBee offers gift card purchases from more than 500 different vendors, and more are being added regularly. In just a few clicks, users can buy from any of the supported partners, using any of the supported coins.
Crypto assets that Coinsbee covers include Bitcoin (with Lightning Network support), Ethereum, Litecoin, XRP, Tron, Bitcoin Cash, Nano, DAI, USDT, Travala, and a total of over 50 different cryptocurrencies.
Users considering CoinsBee to assist with their holiday shopping this season or just want to convert some crypto into gift cards for themselves can rest assured they will receive high service standards, according to user reviews.
CoinsBee is highly rated with a 4.7 out of 5 stars on Trustpilot and is recommended by several crypto industry veterans. After trying it ourselves, we can confidently say that for anyone looking to buy gift cards with crypto, CoinsBee is the destination.
Visit the CoinsBee website to learn more and see the full list of supported coins and a list of partner brands where users can purchase gift cards.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
Author: Posted By: Bitcoinist