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Ripple's (XRP) Value Soars to Two-Month Peak Following Noteworthy Whale Movements Ripple's (XRP) price has surged past $2.6 for the first time since early March, marking a 10% daily increase. This surge, which briefly made XRP the third-largest cryptocurrency by market cap, came after a successful crypto whale opened a significant long position worth nearly $12 million. The same entity also recently went long on Ethereum (ETH), resulting in an unrealized profit of over $10 million. This increase in Ripple's value comes after its underperformance compared to other major cryptocurrencies like ETH and Doge. The SuperTrend indicator had previously given a buy signal for XRP with a price target of $2.6, which was surpassed, reaching $2.67. The next target for XRP is $3 if it can sustainably break the $2.6 resistance.

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Is Bitcoin Poised to Outshine Ethereum? (Perspective) In May, Bitcoin made significant changes to its transaction approval system. Previously, Bitcoin limited transactions with files larger than 80 bytes using an output called OP_RETURN. The network would automatically cancel these transactions, thus making them unspendable on the network. However, the Bitcoin Core developer community has decided to remove these restrictions in response to industry demands, allowing for further development. Despite some maximalists viewing Bitcoin NFTs as irrelevant, there is potential for Bitcoin to be integrated into smart contracts on other crypto platforms like Ethereum and Cardano. This development might give Bitcoin an edge over other Layer 1 networks. Jack Dorsey, founder and CEO of CashApp Block and Twitter, predicts that Bitcoin will reach $1 million in price by 2030 and strongly supports the Lightning Network. A Bitcoin second layer app ecosystem could be a factor in this price prediction.

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Abraxas Capital Withdraws 185,309 ETH from Exchanges as Ethereum Skyrockets by 44% Ethereum (ETH) has experienced a significant surge of over 44% in three days, climbing from $1,800 to more than $2,600. This is the strongest performance by the asset since January 2021. The price jump coincided with Abraxas Capital's massive withdrawal of 185,309 ETH (equivalent to nearly $400 million) from exchanges. This move is seen as a sign of increasing institutional confidence in Ethereum's long-term prospects. The price increase has also led to a rise in profitability, with over 60% of ETH addresses now in profit, a significant increase from 32% just a month ago. Analysts have identified Ethereum's key support zone between $2,060 and $2,420, and foresee potential resistance levels up to $4,013, with a long-term target of $12,000 by year's end.

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Forecast for Pi Network (PI) Value in the Coming Week Over the past week, the Pi Network has seen a significant surge in its price, which almost tripled from $0.6 to nearly $1.7. However, a pullback is anticipated due to the rapidity of this rise. If the resistance at $1.7 cannot be broken, then the PI might drop to the $1.4 support level. The daily RSI indicates that PI's native token is in the overbought region, suggesting a correction might be forthcoming with $1.4 and $1 as potential support levels to halt further decline. The impressive rally was fueled by an exponential increase in buy volume, which was unprecedented since the price hit rock bottom in early April at $0.4. Despite the bullish trend, caution is advised as sustaining such a rally over a prolonged period can be challenging.

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Does Peter Schiff's Assertion That Bitcoin and Gold Have Nothing in Common Hold Up? (Commentary) Peter Schiff, the founder and chief strategist of Euro Pacific Capital, argues that Bitcoin isn't a digital version of gold, citing a recent 3% rise in gold and a 3% fall in Bitcoin. However, this argument might be flawed. Bitcoin advocates liken it to gold, but not as a gold certificate or ETF. The Bitcoin white paper equates Bitcoin's limited supply and mining process to gold, as both require resources to increase circulation. Schiff insists that while gold has intrinsic value, Bitcoin relies on faith. However, gold's value is instrumental, not intrinsic, due to its properties and rarity. Bitcoin was designed to mimic these properties in a digital format. In terms of investment performance, Bitcoin has not failed to uphold gold's reputation as a hedge against central bank policies, and, in many instances, has outperformed gold.

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