The price of Ripple’s XRP token is up 26.9% in the past week and 6.9% in the past 24 hours, outperforming most of the top cryptocurrencies like Ethereum and Bitcoin which are struggling to make considerable gains.
At press time Ripple’s XRP was trading at $0.4326.
Factors contributing to XRP’s recent price rise
There are two main factors believed to be behind the recent XRP price surge and they are increased trader optimism and high whale movement.
Trader optimism on XRP has increased considerably despite the ongoing Ripple lawsuit against the US SEC. majority of traders believe that XRP has the most bullish set-up in the crypto market with a potential for a further breakout.
One of the things that have increased traders’ optimism about XRP is the recent visit of Caroline D. Pham, an American attorney who serves as a commissioner of the Commodity Futures Trading Commission (CFTC) to Ripple Labs. The visit raised speculations that the XRP would be classified as a commodity rather than security as the SEC has been insinuating.
There has also been significant whale movement over the past few days with the two most recent whale movements being a transfer of 30 million XRP tokens and another 261 million XRP tokens between wallets.
The post What is pushing Ripple (XRP) price up? appeared first on CoinJournal.
Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News
Binance Coin Price Prediction – How High Can BNB reach in 2030?
What is the expected future of the Binance Coin? How high will BNB reach in 2030? In this article, we’ll see the potential of Binance Coin.
Binance Coin (BNB) has historically quietly and slowly risen to become one of the most valuable cryptocurrencies by market cap. Above all, the development of Binance, the largest cryptocurrency trading platform, has led to a significant increase in the value of the BNB in recent years. What is the expected future of the Binance Coin? How high will BNB reach in 2030? In this post, we’ll discuss the Binance Coin (BNB) projection for 2022, 2025, and 2030 and examine the cryptocurrency’s future.
What is Binance Coin (BNB)?
The Binance Coin was launched in 2017 as an ERC-20 token. Since 2019, the BNB has been based on its own blockchain, the Binance Chain. Furthermore, Binance introduced the Binance Smart Chain in parallel with the Binance Chain to facilitate the integration of smart contracts. This year the merger to form the BNB Chain took place.
BNB is Binance’s native token. It serves as a utility token on the platform that users can purchase, trade and interact with. Using the BNB reduces transaction fees when trading cryptocurrencies.
How did BNB perform recently?
Binance Coin (BNB) has seen steeper losses over the past few months amid the bear market. In the 2021 bull market, BNB hit an all-time high of $690 in May. In November of last year, the BNB was able to reach similar heights with over 650 dollars. But in November the bear market started and prices fell sharply.
At the turn of the year, the BNB was only worth $527. In January we continued to see heavy losses before the BNB price was able to recover in the following months. But in May 2022 another serious crash began. BNB reached its low of $197 in mid-June. In the weeks that followed, the price stabilized again. At the beginning of October, the BNB rate was $282.
Why did Binance Coin (BNB) become so popular?
The Binance Coin (BNB) is now established among the top 10 cryptocurrencies by market capitalization. In the bull market, BNB was sometimes the number 3 cryptocurrency behind Bitcoin and Ethereum. The Binance Coin forecast has gotten better and better in recent years as the Binance platform has evolved into the largest trading platform for cryptocurrencies.
Binance refunds a lot of transaction fees to its users when they use the BNB on the platform. In recent years, the BNB has become an increasingly important part of the platform. As Binance grows and the number of users increases, so does the demand for Binance Coin, which improves the price and forecast.
As demand increases, Binance also ensures that the supply of BNB is regularly reduced. A certain percentage of BNB is wiped out every 3 months, making the Binance Coin deflationary and making the forecast for BNB better in the future.
What is the Binance Coin forecast for the next few years?
In the next few years, the BNB could continue to rise. With the largest trading platform for cryptocurrencies behind it, the token should be able to continue to rise, especially in bull markets. The increasing demand due to the growth of the platform and the decreasing supply due to regular burning are ideal conditions for a long-term price increase.
In the following, we want to deal with the Binance Coin forecast for the next few years. We look at the end of 2022 and then want to look more closely into the future, into the years 2025 and 2030.
What is the Binance Coin forecast for the end of 2022?
In the coming months, we could still see certain movements in cryptocurrency prices and also in BNB. But how high can BNB go if we are in the middle of a bear market right now?
In the next 3 months, a strong price movement at the BNB is very unlikely. The Binance Coin is now a rather stable coin on the crypto market and closely follows the macro developments on the market. The bear market is in full swing. Furthermore, we have seen little movement on the market in recent weeks. This should remain the case for the next 3 months.
The Binance Coin forecast for the end of 2022 should be close to the current price. Strong price drops or increases are very unlikely. The influence of the bear market is too strong for rallies. In recent months, we have established too strong support at the lower end of prices to go down.
Binance Coin Forecast End of 2022: $180 – $220
What is the Binance Coin forecast for 2025?
Now that we’ve covered the short-term Binance Coin forecast, let’s look a little more into the future. We have to mention that the bear market should come to an end in the next 1-2 years. A new bull market is very likely after we witnessed a new Bitcoin Halving. This is very likely to be the case in 2024.
In the next bull market, the BNB should rise massively again. In the last bear market, BNB fell as low as $10 and rose to an all-time high of almost $700. That was an increase by a factor of 70. In the next bull market, this factor is very likely to decrease as it has with other coins. A factor of 20 seems possible. If we accept a low of $150 in the current bear market, Binance Coin could rally to $3000, making the 2025 forecast extremely bullish.
Binance Coin Prediction 2025: $750 – $3500
What is the Binance Coin forecast for 2030?
Now we want to look even more closely into the future. We have to be a little careful with this, as long-term predictions for cryptocurrencies can be very difficult. It is most likely after 2025 that we will see another bear market that could drop BNB price by 80%. After the next Bitcoin Halving (probably in 2028), a bull market should come again.
If we assume that the Binance Coin price falls to $600 in the bear market and the bull market follows a 15x increase, the BNB price could rise to $9000. Thus, the Binance Coin forecast for 2030 is extremely positive. However, this forecast is very theoretical and a lot can happen on the market in the next few years.
Binance Coin Forecast 2030: $1,000 – $9,000