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TL;DR
- Bitcoin (BTC) saw its price fluctuate significantly but recovered to above $70,000 despite market dips influenced by US inflation reports.
- Ripple (XRP) experienced a 9% weekly rise in value, drawing attention ahead of its trial with the US SEC.
- Shiba Inu (SHIB) enjoyed a 6% increase in the last seven days, with predictions of further growth bolstered by network activity and development updates.
BTC’s Enhanced Volatility
The price of the primary cryptocurrency passed through significant turbulence in the last few days, ranging between $68,000 and $72,000.
Its lowest level occurred yesterday (April 11), when the entire market dipped substantially following the latest US CPI report showing that inflation has increased more than expected. As CryptoPotato reported, the downturn resulted multi-million liquidations.
Nonetheless, the negative trend did not last long, with bulls stepping in and pushing BTC’s valuation back above the $70K mark. Currently, the asset trades at around $70,500 (per CoinGecko’s data), representing a 7% weekly surge.
Some analysts expect even further gains in the near future based on important upcoming events like the BTC halving (scheduled for the end of next week). The Benchmark Company analyst Mark Palmer believes the asset’s price will hit $150,000 by 2025, while the crypto exchange Bitfinex predicted this level will be reached 14 months after the halving.
However, not all are that optimistic. Fred Thiel – CEO of Marathon Digital – recently argued that the halving rally has already priced in and does not expect any significant surges after the event.
XRP Became Part of This Prestigious List
The price of Ripple’s XRP recorded even more substantial gains than BTC in the past seven days, rising by 9% and briefly touching the $0.64 mark.
The asset seems to be a major subject of interest in the crypto space. The crypto market intelligence platform – Santiment – recently outlined the top 10 digital currencies involved in the most discussions, with XRP placed in the seventh spot.
The interest could be related to the approaching trial between Ripple and the US SEC (set for April 23). The legal spat between the entities has been ongoing for over three years and is focused on XRP’s status. The regulator thinks the token should be treated as a security, whereas the company argued against that classification.
SHIB’s Next Targets
Another well-known cryptocurrency that has returned to green territory is Shiba Inu (SHIB). The price of the second-largest meme coin is up 6% on a 7-day scale, with some analysts expecting an impressive bull run in the following months.
The X user Rekt Capital recently noted that SHIB’s current value has reached the same level as the one from early 2022. Surpassing this resistance zone may lead to a triple-digit surge, the analyst suggested.
The asset’s burn rate and the advancement of its layer-2 blockchain solution – Shibarium – may also trigger a price rally. As CryptoPotato reported, the network experienced a significant revival in terms of daily transactions this week, while the number of total blocks exceeded the 4 million milestone.
Those curious to learn how Shibarium aims to foster the development of Shiba Inu, feel free to take a look at our dedicated video below:
This article first appeared at CryptoPotato
