$XRP $SHIB

XRP's Momentum: Bitwise CIO Highlights Untapped Potential

XRP has recently demonstrated notable resilience, with its price ascending beyond the $1.25 mark. This upward trajectory is attributed to growing optimism surrounding Ripple's legal situation and the prospective introduction of an XRP spot ETF.

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, emphasized XRP's robust community support and the technological prowess of the XRP Ledger (XRPL). He likened Ripple's current challenges to "operating with two hands tied behind your back," suggesting that resolution of legal uncertainties could unlock substantial growth for XRP. Bitwise's filing for an XRP ETF underscores this confidence, indicating potential for increased institutional adoption.

Institutional interest is further evidenced by entities like Société Générale exploring XRP's capabilities. Analysts have noted that XRP's monthly Bollinger Bands are expanding, a pattern reminiscent of its significant surge in 2017, hinting at the possibility of a similar bullish run.

SHIB's Volatility Amid Massive Token Burns and Whale Movements

Shiba Inu (SHIB) has experienced heightened volatility, marked by substantial token burns and significant whale activity. In a single hour, over 28 million SHIB tokens were burned, contributing to a 3,255% increase in the burn rate. Despite these efforts to reduce supply, SHIB's price has declined by approximately 6%, reflecting broader market trends.

Whale behavior has significantly influenced SHIB's market dynamics. A prominent whale recently liquidated 250 billion SHIB, realizing a profit of $109 million, and still retains over 2 trillion SHIB. Such large-scale transactions have led to a 20% decrease in addresses holding between 10 million and 100 million SHIB, indicating a shift in investor sentiment.

These movements have contributed to a broader market sell-off, with SHIB's trading volume surging by 110% to 34.1 trillion tokens, equating to $801 million. This activity aligns with a $410 million liquidation across