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arnold1ng3

@arnold1ng3

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Today in crypto, Coinbase chief legal officer Paul Grewal has addressed criticism of the exchange’s token listing and delisting practices after a $1 billion lawsuit accused the company of anticompetitive behavior regarding Wrapped Bitcoin, and Nasdaq has announced that Michael Saylor’s MicroStrategy will join the Nasdaq 100.
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Titan of Crypto, an independent crypto analyst, shared a similar outlook, saying that BTC has “surged” above the blue line on the “power law corridor.” Based on historical data, the trader expected the BTC price to move rapidly, as “such breakouts often signal explosive upward moves.”
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From a technical standpoint, Bitcoin's price continues to coil at a higher price range, with immediate targets between $115,000 and $126,500. Unless BTC closes a daily candle below $95,000 or drops below $90,200, the crypto asset is expected to attain higher prices before the end of 2024.
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It has dropped down to 3,700 BTC in December 2024, which is a drop of almost 91%. The analyst added,
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A warm Farcaster welcome to @sophiom5i!
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A warm Farcaster welcome to @rubylian8e!
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A warm Farcaster welcome to @miamma3ria!
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A warm Farcaster welcome to @jolineny6ni!
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A warm Farcaster welcome to @hedyna56cc!
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Popular analyst Ashy Crypto said that if RLUSD receives wide adoption, it will “send XRP hard” upward.
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Some crypto commentators have said that RLUSD’s launch will create several tailwinds for XRP, especially as it will provide Ripple with a less volatile asset to deepen its remittance and settlement services.
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RLUSD is currently in beta testing on the Ethereum network and XRP Ledger (XRPL), with a circulating supply of $52 million.
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In April, Ripple laid out its plan to enter the quickly growing stablecoin market with its heavily regulated, short-term US government bond-backed cryptocurrency.
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XRP’s rally follows a Dec. 10 announcement by Ripple CEO Brad Garlinghouse that Ripple’s US dollar-backed stablecoin, RLUSD, has received final regulatory approval from the New York Department of Financial Services (NYDFS).
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Data from Cointelegraph Markets Pro and TradingView shows that XRP rose from a low of $1.90, rising as much as 27% to a high of $2.42 on Dec. 10, before retreating to the current level of $2.32.
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If implemented at the federal level, a core IT stack built on blockchain could ensure the existence of a permanent record of every transaction conducted by the federal government. This would make it possible to perform mass audits while providing the potential for absolute transparency of tax allocation and spending.
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The incoming Trump administration has already professed its intention to make the US the de facto global leader in both cryptocurrency and blockchain technology. And as numerous experts have pointed out, blockchain's most basic use case is as an immutable ledger.
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It seems likely that Musk may pursue an apolitical solution to accelerate government accountability and ensure technological advancement — and blockchain could fit the bill perfectly.
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Still, based on Musk’s commentary, it doesn’t appear that his assessment is necessarily politically motivated. Musk avoided placing any blame in his posts and instead signaled that the issue was more one of bureaucratic entrenchment than intentional mismanagement.
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