👀 ChatGPT thinks $8 is a realistic target for XRP in 2024

⚡️ SEC-Ripple saga: How it began
Ripple has been at loggerheads with the U.S. Securities and Exchange Commission (SEC) for years now.

🔔 Court delivers a partial judgment
In July 2023, the judge ruled that the sale of XRP tokens to retail investors over exchanges and through programmatic sales did not constitute investment contracts; hence, it was not a security in this case.

The Court will seek to schedule a jury trial for the second calendar quarter of 2024.

👉 ChatGPT deciphers some fundamental questions
Note that ChatGPT has limited access to information until 2021 only. That makes it difficult to pull data beyond 2021, let alone make future predictions—something that OpenAI’s policy firmly prohibits.

🕯 ChatGPT predicts the price of XRP
We asked ChatGPT to predict the price of XRP towards the end of the year.

🛍 Bitcoin Surge Blasts $170M in Bearish Shorts as BTC Price Targets $48K

🕯 Bitcoin’s ever-growing prices are leaving at least one group startled by the rapid bumps: Those placing highly leveraged short futures bets aimed at profiting from potential price reversal.

🔶Large liquidations can signal the local top or bottom of a steep price move, which may allow traders to position themselves accordingly.

💬 The staging for this rally already started in the week beginning 10/23 when BTC managed to overcome the iron-beam resistance in the $30k area,” shared Julius de Kempenaer, senior technical analyst at StockCharts. “On the weekly chart, the next expected level of resistance is around $48k, the peak set at the end of March 2022.

🔹 Ethereum spot ETF race heats up: This cohort takes an interest

🛡 Institutional inflows into ETH jumps
These recent developments spiked institutional interest in ETH, which until very recently, was failing to attract substantial inflows when compared to Bitcoin.

🔵 FOMO grips the ETH market
As of this writing, ETH was exchanging hands at $2,214.48, up nearly 10% over the last week. The market sentiment was leaning towards greed according to AMBCrypto’s analysis of Hyblock Capital’s data.

⭐️ Of SHIB’s surging burn rate and BONE’s role in it all

🐶 Shiba Inu’s Shibarium propels SHIB burn
Shibarium has experienced a remarkable development in the past few days, marked by a surge in transactions on the Shiba Inu platform.

➡️ Shiba Inu’s burn rate goes off the roof
According to data from Shibburn, there has been a substantial surge in Shiba Inu’s burn rate within the last 24 hours. Over 8.3 billion SHIB tokens have been burned during this period, representing an impressive 1548111.1% increase in the burn rate.

❓ How Shiba Inu has trended in the last 24 hours
AMBCrypto’s examination of the daily timeframe chart for SHIB showed its alignment with the broader market trend. The chart illustrated a cessation of its recent upward trajectory in the ongoing trading session.

🦴 Analyzing BONE’s trend
BONE has played a pivotal role in initiating the anticipated SHIB burn. An analysis of the daily timeframe chart revealed that BONE experienced an upward price trend in the past few days.

💙 Should Blur investors be concerned about the dip in prices?

🚫 BLUR’s NFT space is booming
CryptoDep, a popular X (formerly known as Twitter), recently posted a tweet highlighting one of Blur’s recent achievements.

💵 Blur investors are bearing losses
While the marketplace continued to reach new highs in the NFT ecosystem, the native token took a blow in the recent past as its price dropped.

🪙 Bitcoin, Ethereum lose over the weekend: What’s next?

🕯 Trading activity declines
Bitcoin has led the broader market rally over the last two months, driven by enthusiasm over the approval of spot ETF applications in the U.S. market.

🤫 Derivatives market also go quiet
Speculative interest in the king coin also started fading as the year drew to a close. The Open Interest (OI) in BTC futures dropped more than 9% from last week to $16.95 billion at press time, AMBCrypto observed using Coinglass data.

💬 As we approach the holiday season, we can expect some dip in trading activity due to which the market may remain at current levels. The Bitcoin ETF approval clock is ticking and we can expect a crypto super cycle in 2024 once the final approval is achieved.

📣 Here’s Cardano’s prediction as price nears this support zone

🔍 The 23.6% extension and beyond have been important
On the 16th of November, ADA reached the 23.6% extension level before facing rejection. It eventually breached this level on the 5th of December, and has noted rapid gains since then.

❌ The liquidity pools to the north could be swept
The liquidation levels heatmap and found that the $0.54 level was a strong candidate for a bullish reversal. However, whether prices would go further south from here was unclear.

🔔 FUD around DYDX rises: Should you be concerned?

👉 FUD around DYDX is rising!
Santiment recently posted a tweet highlighting the behavior of a few cryptos. As per the tweet, DYDX and several other coins had witnessed a substantial rise in negative sentiment.

🔶 Is DYDX expecting a price correction?
Since the increase of its FUD, AMBCrypto checked the token’s supply to see whether there was a sell-off. Our analysis found that investors were still buying the token.

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✔️ Optimism, Arbitrum and how 2023 was the year of the L2s

👑 2023 saw increased L2 usage
Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism – “Merge” – in September 2022 propelled the demand for the network.

➡️ Base’s not-so-brief stint at the top of the world
In August, the launch of Base, Coinbase’s scaling solution built on Ethereum, onboarded a new cohort of users into the L2 ecosystem. Less than a month after Base launched, user activity on the network surpassed that of already-existing protocols such as Arbitrum and Optimism [OP].

🌐 User activity on Optimism and Arbitrum in December
The last month of the year saw an uptick in user activity on Optimism. According to data from Etherscan, daily transaction count grew by 40%.

🔖 What Bitcoin’s 2024 predictions say about the king coin’s prices

🛠 Bitcoin miners move away?
The Miner to Exchange Flow metric measures the amount of BTC that is flowing from miners to exchanges. When this metric rallies, miners sell more BTC than they are mining.

This is a sign that miners are bearish on the price of BTC and are mostly interested in selling their holdings.

💰 Also, BTC’s Miner Reserve, which measures the number of coins held in affiliated miners’ wallets, confirmed coin exits from miners’ wallets within the period under review.

💰 The last time this metric was close to such high levels was during the bull market in 2021, when 95% of all UTXOs were held in profit.

🪙 Ripple begins 2024 with 1 bln ritual unlock: How about XRP?

⚡️ Another year, another unlock
At press time, the value of the total tokens unlocked was $611.42 million. For the uninitiated, Ripple unlocks these tokens as a strategy to stabilize the XRP price.

🖥 Steady lads, bulls need to deploy capital
At press time, the RSI reading was 44.93. But XRP would need the RSI to rise above the 50.00 midpoint to confirm the reversal. If this happens, then XRP could be on its way to hitting $0.65.

💎 Digital asset inflows soar to record highs as BTC, SOL take center stage

⚡️ Inflows hit a record high in 2023
Recent data from Coinshares showed that in 2023, digital assets experienced the third-highest volume of funds inflow. The report indicates a total inflow of $2.25 billion for digital asset products.

🪙 Bitcoin and Solana lead inflow volume
Bitcoin witnessed a substantial influx of $1.9 billion, constituting 87% of the total flows. Additionally, Solana experienced the second-highest inflow for the year, with total inflows reaching US$167 million, accounting for 20% of the Assets under Management.

❓ How Bitcoin and Solana have trended so far
Examining the daily timeframe chart of Bitcoin showed that since reaching the $40,000 price level, it has sustained that position despite some fluctuations.

🖥 SHIB prices fall by 25% – Should you buy the dip?

😎 The 50% retracement level could be hotly contested
The market structure of SHIB was firmly bearish. The RSI also fell below neutral 50 to reflect downward momentum.

🕯 The supply on exchanges saw a steady drop
The supply on exchanges metric trended higher in October and the first half of November. Thereafter, it has fallen. This showed increased SHIB accumulation. The mean coin age also reversed its downtrend in the past month.

💬 This was a strong signal of a high volume of SHIB token movement and pointed toward the likelihood of a wave of selling. Another, smaller wave could be imminent.

🔊 BNB vs Polygon: Which network takes the cake with high user activity

➡️ BNB chain and Polygon see over 1 billion transactions
Coin 98 Analytics released data on the transaction volumes of popular networks in 2023. The findings revealed that the BNB chain and Polygon secured third and fourth positions among the 17 networks analyzed.

⚡️ Polygon and BNB chain end the year on a high
An examination of transaction trends on the BNB Chain and Polygon showed a similar pattern. The pattern observed was that these networks recorded their highest number of daily transactions in 2023.

💎 Did the transaction impact volume and TVL?
An examination of the transaction volume and Total Value Locked (TVL) for the BNB Chain and Polygon revealed that the increased transaction activity did not yield significant impacts.

📌 Will Bitcoin crash to $34k? Here’s what the data suggests

💵 How Bitcoin plummeted under $43,000
AMBCrypto had earlier reported how the price of the king coin had plummeted a few days after the ETF approval. To be precise, BTC went down by over 7% within a 24-hour timeframe.

🪙 Are investors buying BTC?
To check the larger market trend, AMBCrypto took a look at Bitcoin’s metrics. Our analysis of CryptoQuant’s data revealed that BTC’s exchange reserve was increasing, meaning the selling pressure was high at press time.

❓ Will Dogecoin feel the effect of this massive 990M transfer

❌ DOGE wants to fall
On the 9th of January, a similar transaction took place. About one billion coins were moved from Binance to another wallet. Moments after that transaction, DOGE rose from $0.076 to $0.085. Between that time and press time, DOGE’s price had dropped and was changing hands at $0.082.

🕯 A breakout can’t be found
When combined, the increase in circulation and Open Interest suggests a possible DOGE decrease. The Accumulation/Distribution (A/D) indicator also supported this potential. Based on the 4-hour chart, the A/D had stalled at 27.14 billion.

🛡 This also confirmed the bias that DOGE would find it hard to breakout. But if bulls increase buying pressure, DOGE could breach the $0.083 resistance.

➡️ Once this happens, a move toward $0.09 could be next. However, that might not be the case in the short term. But if altcoins start to move upwards again, DOGE’s price might also increase.

🪙 Why Bitcoin might end its bearish price action soon

📌 Bullish divergence spotted on Bitcoin’s chart!
Bitcoin investors bore losses last week as the king of cryptos price dropped by more than 2% in the last seven days. According to CoinMarketCap, at the time of writing, BTC was trading at $41,592.53 with a market capitalization of over $815 billion.

🛡 Is an uptrend inevitable?
To better understand whether BTC would begin a bull rally, we took a look at its on-chain metrics. Though market indicators were bullish, a look at BTC’s on-chain metrics suggested that the possibility of an uptrend in the near term was slim.