Ripple made some big moves in 2024, particularly with the launch of the RLUSD stablecoin and their growing relationships with central banks.
With XRP seeing strong price action lately around the $2.15 mark, there’s a lot of buzz about where it might go – including some ambitious predictions of a 10x surge by January 2025.
We’ll look at the technical patterns, recent developments, and price movements to see if these predictions hold water.
And speaking of interesting developments, there’s also PlutoChain, which could potentially bring smart contracts and decentralized applications to Bitcoin’s ecosystem. The PlutoChain presale is gaining momentum, selling more than 2 million tokens.
The goal is to expand Bitcoin’s role in decentralized finance beyond just being a store of value.
Let’s check out all the deets below.
Ripple (XRP) Going Through a Slump But It Might be a “Calm Before the Storm” – Does the Technical Data Suggest Another Surge in January 2025?
XRP is still going through a bearish rally, with a price of $2.14 and a 6.6% decrease in the last 24 hours.
While it reached an impressive high of $2.89 earlier this month on December 3rd, the market has been testing different support levels since then.
The Relative Strength Index (RSI) sitting at 43.27 suggests the asset isn’t clearly overbought or oversold, though it’s leaning slightly toward the bearish side.
The moving averages tell a similar story – with XRP trading below both its 50-day moving average of $2.28 and its 200-day moving average of $2.40, we’re seeing some potential bearish signals in the short term.
But the technical analysis is just part of the story. Ripple, the company behind XRP, has made some interesting moves that could have an impact.
Their new RLUSD stablecoin launch represents a strategic expansion into the stablecoin market, potentially making XRP more versatile in the broader financial ecosystem. While XRP handles fast transfers, RLUSD could provide the stability needed for certain types of transactions.
The August 2024 ruling by Judge Torres marked a big moment – while institutional sales were found to violate securities laws, the ruling that retail sales weren’t securities transactions provided some regulatory clarity.
The $125 million fine, while substantial, was viewed positively by the market compared to the initial $2 billion the SEC sought.
This regulatory clarity seems to have boosted investor confidence significantly. Since the November 5 election, XRP has seen remarkable growth, surging nearly 400% to reach $2.90 before finding its current stability around $2.50.
Crypto analyst Ali Martinez has projected some interesting potential targets – an optimistic scenario of $48.12 and a more conservative estimate of $8.40.
Armando Pantoja, a Twitter analyst, says that a realistic prediction for XRP is $8-$12 in January.
CryptoDanovic is also on the bearish side – he believes that XRP can regain the $2.35, but that a new breakout won’t come our way in January.
PlutoChain ($PLUTO) Building a Layer-2 Solution for Potentially Expanding BTC’s Functionalities – Was This the Missing Link All Along?
PlutoChain is developing a Layer-2 solution that might expand Bitcoin’s functionality by potentially enabling smart contracts and decentralized applications directly on the Bitcoin network.
The core innovation addresses Bitcoin’s 10-minute block time limitation, which has historically restricted its ability to support complex applications and led to the emergence of alternative blockchains like Ethereum, Solana, and Cardano.
The technical architecture of PlutoChain achieves 2-second block times while potentially maintaining Bitcoin’s underlying security.
This improvement in transaction speed has been demonstrated through testnet performance, where the network successfully processed approximately 43,200 transactions daily, which potentially shows readiness for practical deployment.
A key technical feature is PlutoChain’s Ethereum Virtual Machine (EVM) compatibility, which could enable the migration of Ethereum-based applications to the Bitcoin network.
This integration creates a technical framework that could combine Ethereum’s development flexibility with Bitcoin’s established security infrastructure, potentially expanding Bitcoin’s role in the broader DeFi ecosystem.
The platform implements a governance structure that incorporates community participation in protocol development decisions.
To establish technical credibility, PlutoChain has undergone security audits from three firms- SolidProof, QuillAudits, and Assure DeFi. These comprehensive audits verify the platform’s security architecture and implementation.
Final Words
Current market indicators suggest XRP faces significant resistance at $2.50, making a 10x surge unlikely based on current technical and fundamental factors.
Meanwhile, PlutoChain could address Bitcoin’s core limitation – its focus on value storage rather than utility.
By potentially implementing smart contract capabilities through a Layer-2 solution, PlutoChain may enable Bitcoin to support decentralized applications, DeFi protocols, and NFTs while maintaining its robust security model.
If successful, this technical upgrade could significantly expand Bitcoin’s functionality beyond simple transactions, potentially transforming its role in blockchain.
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This article do not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.
