Ripple (XRP) Developments, Optimistic Cardano (ADA) Predictions, and More: Bits Recap Jan 10

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TL;DR

  • Ripple’s stablecoin RLUSD gained adoption from top exchanges like Bitstamp, offering diverse trading pairs.
  • Cardano’s ADA rebounded to $0.97, with analysts predicting future highs between $6.45 and $7.
  • Bitcoin (BTC) fluctuated from $102K to $92K, now at $94.5K, with forecasts as high as $500K for 2025.

What’s New Around Ripple?

Ripple, the organization responsible for the well-known digital currency XRP, is still causing quite a stir in the world of cryptocurrencies. Recently, they introduced a stablecoin directly tied to the U.S. dollar, which they named RLUSD.

The item sparked tremendous enthusiasm throughout the community and garnered backing from several prominent cryptocurrency platforms like Uphold, Bitso, Bullish, Moonpay, and more.

According to CryptoPotato’s latest report, Bitstamp, a European exchange, has joined the trend by listing RLUSD on the Ethereum network. They described it as a robust solution tailored for high-end financial applications. The trading pairs now available to users include RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP.

Earlier this week, Ripple’s president, Monica Long, indicated that renowned cryptocurrency trading platforms might soon adopt the stablecoin, suggesting an impending development.

ADA Forecasts

In recent days, the cryptocurrency market has seen a significant pullback, with Cardano (ADA) being one of the hardest hit tokens. Its value plummeted from $1.14 on January 7 to $0.88 on January 9. However, the sector has recouped some of these losses in the past few hours, causing ADA’s price to rise to its current level of $0.97, as reported by CoinGecko’s data.

As an analyst, I’m finding myself in agreement with many of my peers who see a significant potential for growth in the asset we’re studying. Dan Gambardello, another analyst, has pointed out a particularly bullish weekly pattern setup in ADA, which he describes as an “inverse head and shoulders with an upward sloping neckline.” If this pattern plays out as expected, it could lead to a breakout to the upside, potentially pushing the price to reach as high as $7.

In a positive outlook, Altcoin Daily forecasted that the value of ADA could potentially reach $6.45 by the year 2025 for several digital currencies.

BTC’s Price Swings

Just like ADA, the main cryptocurrency has experienced increased volatility in recent times. You may recall that Bitcoin reached a high of $102,000 on January 7, but it dropped below $92,000 just two days later. However, the bulls fought back and managed to push the price up, with the asset currently trading above $94,500 as we speak.

Regardless of the ups and downs, numerous analysts within the X community continue to be hopeful that 2025 will be an extraordinarily prosperous year for cryptocurrency. One enthusiastic user from X even speculated that BTC could reach unprecedented heights of $210,000 by Valentine’s Day, while another envisioned a monumental surge potentially reaching as high as $500,000.

If you’re interested in discovering more about future price predictions and determining if this could be an ideal moment to invest, feel free to watch our specially prepared video below:

 

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2025-01-10 12:26