Massive SHIB Acquisition on Robinhood, XRP Escrow Lockup’s Impact on Price, and Peter Schiff’s Latest BTC Predictions: Key Highlights in Today’s Crypto Market

  • 1.75 trillion SHIB tokens were recently purchased on Robinhood by an anonymous whale, with the total worth of the acquired tokens evaluated at $39.2 billion. This comes as the price of SHIB is on the verge of a major bullish breakout.
  • Ripple Labs has shifted 800 million XRP into an escrow wallet in an attempt to rebalance the circulating supply of the digital currency. Despite this, the price of XRP has not fully recovered from the losses of the previous week.
  • Peter Schiff, a renowned gold advocate, has named the next downside objective for Bitcoin at the $54,000 level. This comes as Bitcoin is currently facing its do-or-die moment, with the asset potentially in big trouble if it breaks down below the $60,000 level.

Get the latest updates on the crypto market, with insights on the recent purchase of 1.75 trillion SHIB tokens on Robinhood, Ripple’s 800 million XRP escrow lockup, and Peter Schiff’s new bearish target for Bitcoin.

1.75 Trillion SHIB Tokens Purchased on Robinhood

According to data from Whale Alert tracker, an anonymous whale recently purchased 1.75 trillion SHIB tokens on Robinhood. The total worth of these tokens is estimated at $39.2 billion. This comes as crypto trader and analyst Ali Martinez predicts a major bullish breakout for SHIB, with the price potentially reaching the $0.000072323 level.

Impact on SHIB’s Price

At the time of writing, SHIB is trading at $0.00002405, up 7.15% over the past 24 hours. This increase follows Martinez’s prediction of a bullish breakout, suggesting that the recent purchase could potentially drive the price up further.

Ripple’s 800 Million XRP Escrow Lockup

Ripple Labs recently shifted 800 million XRP into an escrow wallet in an effort to rebalance the circulating supply of the digital currency. Despite this, the price of XRP has only slightly increased, with the currency still down over the previous week by 2.04% and over the previous month by more than 14%.

Future Outlook for XRP

Given the recent escrow activity, it remains to be seen whether the price of XRP will recover from its recent losses. Currently, XRP is trading at $0.524, up less than 1% over the past 24 hours.

Peter Schiff’s Bearish Target for Bitcoin

Peter Schiff, a renowned gold advocate, has named the next downside objective for Bitcoin at the $54,000 level. This comes as Bitcoin is currently facing its do-or-die moment, with the asset potentially in big trouble if it breaks down below the $60,000 level.

Bitcoin’s Current Trading Price

At the moment, Bitcoin is trading at $61,715, up 5.84% over the past 24 hours. This follows recent statements by Federal Reserve Chairman Jerome Powell, which briefly drove the Bitcoin price above the $59,000 level.

Conclusion

With the recent purchase of 1.75 trillion SHIB tokens on Robinhood, Ripple’s 800 million XRP escrow lockup, and Peter Schiff’s new bearish target for Bitcoin, the crypto market continues to see significant developments. As these events unfold, investors and traders will be closely watching the market for potential opportunities and risks.

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Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
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