XRP at Center of Heated Debate, Samson Mow Makes Crucial Bitcoin Statement, Shiba Inu About to Break 1.3 Trillion SHIB Resistance: Crypto News Digest by U.Today
U.Today has prepared a summary of the top three news stories over the weekend.
Is XRP dead? Community debates
Last weekend, the XRP community found itself involved in a heated debate over the future of the XRP token. It all started with an X post by Nick "Crypto Crusader" (@NCashOfficial), who claimed the Ripple-affiliated token to be "scam" and "dead." He addressed the XRP community to highlight the growing FUD and pessimism among token supporters due to the asset's underperformance despite Ripple's victory. The analyst mentioned the ripple effects of the FTX crash, which many believed would topple big exchanges like Binance and Coinbase; however, the market rebounded in January 2023, proving doubters wrong. The message that Nick wanted to deliver to XRP fans is simple: XRP should not be held by the fainthearted, especially during periods of high volatility and bearish sentiment. Unsurprisingly, the post attracted the attention of many XRP enthusiasts. The responses to XRP criticism varied but were mostly optimistic; some emphasized long-term investment strategies and the importance of diversification, while others underscored the fundamental value of what Ripple is building.
Crucial Bitcoin statement issued by Samson Mow: "Supply will never meet demand"
In a recent X post, Jan3 CEO Samson Mow shared his bullish take on Bitcoin. In his opinion, when it comes to Bitcoin, a supply shock will never meet the demand shock, meaning the supply decline after the approaching Bitcoin halving, which is expected to take place in the middle of April. This time, Mow posted that Bitcoin "supply will never meet demand." In his earlier post, the CEO pointed out that the price of the world's largest crypto has been increasing over the past few days, and the bears who expected BTC to drop into the $30,000 range ($0.03 million, as he calls it) have gone “awfully quiet” now. At the moment of writing, Bitcoin is changing hands at $48,904, up by 14.15% over the past week, per CoinMarketCap.
Godfrey BenjaminShiba Inu about to break 1.3 trillion SHIB resistance
Recent on-chain data shows that Shiba Inu is about to break through a significant resistance level that has long served as a battleground for buyers and sellers. At the moment, SHIB is on the verge of quitting the profitability cluster, which lies between the $0.000009 and $0.00001 price range. This zone is crucial since it comprises more than 1.3 trillion SHIB, a large amount that represents potential selling pressure. Passing this barrier is a technical as well as psychological milestone for SHIB since it could alleviate the pressure from sellers wishing to exit their positions. The decreasing amount of tokens in the profitability cluster means that the selling pressure is gradually dropping, which makes it easier for Shiba Inu to move forward. If the trend sticks, SHIB's future appears increasingly promising, offering the asset the chance to rise without the imminent risk of a large sell-off.
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