Category: AI

ForthefirsttimesinceJuly,BookofMeme’s(BOME)pricehashit$0.011.ThishappenedaftertheSolanamemecoinpricejumpedby62%inthelastsevendays. Butthatisnotall.BOME’srecentrallyhasshownnosignsofslowingdown,askeyindicatorssuggestthatthiscouldbethebeginningofamuchlargerbreakout. BookofMemeSeesRecord-BreakingSpeculativeActivity BOMEismakingheadlinesnotjustbecauseofitspricebutalsobecauseofitsOpenInterest(OI).AccordingtoSantiment,thetoken’sOIhasreachedanewall-timehighof$161.97million.Coincidingwiththestaggeringpricerally,thissurgeinOI,akeyindicatorofspeculativeactivityinthederivativesmarket,suggestsgrowinginvestorinterestinthememecoin. Simplyput,OpenInterest(OI)representsthetotalvalueofallactivecontractsinthemarket.WhenOIincreases,itindicatesthattradersaregainingexposuretoacryptocurrency,addingmoreliquiditytothecontracts. Conversely,adecreaseinOIsignalsthatpositionsarebeingclosedandcapitalisbeingremovedfromthemarket.InBookofMeme’ssituation,tradershaveopenedmorecontracts.ThissignifiesincreasingbuyingpressureinthederivativesmarketandfuelingBOME’simpressivepricemomentum. Readmore:HowtoBuyBookOfMeme(BOME)AndEverythingElseToKnow BookofMemeOpenInterest.Source:Santiment LiketheOI,BOME’svolumealsoclimbed.Asofthiswriting,thevolumestoodat$659.06million—thehighestsinceMay23. Volume,inmonetaryterms,representsthevalueofbuy-and-selltransactionswithinaspecificperiod.Thecombinationofrisingpriceandvolumesuggestsgrowinginterestandliquidity,whichoftenleadstofurtherpriceappreciation. Currently,BOME’spricehassurgedby20%inthelast24hours.Ifthisupwardmomentumcontinuesalongsideincreasingvolume,thememecoin’spricecouldpotentiallysurpass$0.11inthenearfuture. BookofMemeVolume.Source:Santiment BOMEPricePrediction:FurtherGainsLikely AglanceattheBOME/USDchartrevealsthatthememecoinhasfinallybrokenoutofthedescendingtrianglepatternitformedinJune.Adescendingtriangleisatechnicalchartpatternthatfeaturesafallingtrendline,indicatinglowerhighs,andahorizontalsupportline.Thisbreakoutsuggestsapotentialshiftinmarketsentiment,whichcouldleadtofurtherupwardpricemomentumforBOME. Whenthepricebreaksbelowthesupportlineofadescendingtriangle,thetrendistypicallybearish,signalingapotentialextendeddowntrend.However,inthiscase,BOME’spriceroseabovethesupportline,suggestingapossiblebullishreversal,withthetokenpoisedtoclimbhigherinvalue. AnothersignificanttechnicaldevelopmentistheconditionoftheExponentialMovingAverage(EMA),atoolusedtogaugeacryptocurrency’strend.Notably,the20EMA(blue)hascrossedabovethe50EMA(yellow)forthefirsttimesinceMay,whichcouldindicategrowingbullishmomentumforBOME. Readmore:5BestBookOfMeme(BOME)WalletsToConsiderIn2024 BookofMemeDailyPriceAnalysis.Source:TradingView Thisposition,knownasagoldencross,istypicallyabullishsign.Shouldthisremainthesame,BOME’spriceislikelytobreachtheresistanceat$0.013.Inthatsituation,thememecoincouldrallyallthewayto$0.015or$0.017. However,tradersneedtowatchthememecoinclosely.IfBookofMemefailstoholdthecurrentmomentumorprofit-takingrises,thispredictionmightbeinvalidated.Inthatcase,BOMEcoulddeclineto$0.0079. beincrypto.com

AstudybytwotopTurkishuniversitiesfoundthatTangleissuperiortoothertypesofDLT,includingtraditionalblockchains,fortheInternetofThings(IoT). Tangle’sfeelesstransactions,lowenergydemands,andbetterscalingmakeitmoresuitedforindustrieslikeIoT,whichrequiremassiveamountsoflow-costtransactions. Tangle,atypeofdistributedledgertechnology(DLT)thatnetworkslikeIOTAarebuilton,isamuchbetterfitforindustriesliketheInternetofThings(IoT),anewstudybytwotopuniversitiesinTurkeyhasfound. ThestudywasconductedbyBahçeşehirUniversityandSiirtUniversityandpublishedintheTurkishAcademicResearchReview. 1/8.AstudybyBahçeşehirUniversityandSiirtUniversity,publishedintheTurkishAcademicResearchReview,compares#Blockchainand#Tangletechnologieswithinthe#IoTcontext.Theverdict?Tanglecomesoutontop.Here’swhy.👇https://t.co/aEHd6oFyDY —Salima(@Salimasbegum)October14,2024 Tanglereliesonadirectedacyclicgraph(DAG),adatastructureinwhichnodesareconnectedbydirectededgesthathaveadirection.DAGshavenocycles,ensuringtheclearorderingoftransactions.Intraditionalblockchains,transactionsareorderedinblocksandthenaddedtothechaininalinearsequence.WithDAGs,transactionsareconfirmedindividuallywithouttheneedforablock. Accordingtothestudy,oneoftheareasthatTanglebeatstraditionalblockchainsisinmicrotransactionsasitallowsforfeelesstransactions.Tohaveatransactionapproved,aparticipantneedstoapproveapriortransaction.Thisalsoeliminatestheneedformining,makingtheprocessmuchcheaper.ThisiscrucialforIoTastheindividualdevicessendthousandsoftransactionseverydayamongstthemselves,containingcrucialdata.AnetworklikeEthereum,wherethefeesarehighforeachtransaction,wouldbeunsuitedforIoT. Today,therearenearly20billioninterconnectedIoTdevices,anumberthatexpertsexpecttodoublebytheendofthedecade.Payingfeesforeverytransactionfromsuchdeviceswouldbeuntenable,evenfornetworkswithlowerfees. IOTA’sTangleBeatsBlockchain SpeedisalsocrucialforIoT.ImagineaworldwheretrafficlightsareautomatedthroughIoT—ifthere’sadelayinrelayinginformationbetweentheIoTdevices,itcouldresultinfatalaccidents,resultinginliveslostandmillionsofdollarsdamaged. Assuch,anynetworkunderpinningIoTmusthavehighthroughputandnolag.ThisisanotherfieldwhereIOTA’sTanglebeatsthetraditionalblockchains.WithTangle,asthenumberoftransactionsincreases,efficiencyisboosted,nothindered,aseachnewtransactionconfirmsearlierones. Tangleisalsoenergy-efficient,unliketraditionalblockchains.Witheachnewtransactionbeingusedtoconfirmpriorones,there’snoneedtomine.Miningisanextremelyenergy-intensiveprocess;expertsestimatethatBTCaloneconsumesover120terawatt-hours(TWh)ofelectricityannually,whichishigherthantheannualconsumptionofArgentina,theworld’s22nd-largesteconomywithover45millioncitizens. WithTangle,IOTAistheundisputedindustryleader.ThishasestablishedIOTAastheleaderinIoT,whichwastheindustryitwasoriginallydesignedtofocuson.However,asfounderDominikSchienertoldCNFinanexclusiveinterviewthisyear,ithassinceexpandedtoothersectors,includingthetokenizationofreal-worldassets. IOTAtradesat$0.1293,gainingmarginallyoverthepastdaytotakeitsweeklyriseto6.3%. crypto-news-flash.com

HongKongpolicebustedalocalcryptofraudgroupandarrested27people,involvingstudentsfordefraudingvictimsofHK$360Million.Amongsttheaccusedwere21menand6women(aged21to34)whowerearrestedonthesuspectsofdefraudingmultiplelocalandoverseasvictimsduringtheoperationforaboutayear. Accordingtothelocalmediaoutlet,thepoliceinformedthatthefraudgroupmainlyusedonlineromancemethodstolurevictimsintoinvestingincryptocurrencyandlaterdupedthem. Thepolicesaidthat6ofthearrestedpeopleweregraduatesfromwell-knownlocaluniversities,and10haveForm6educationandallofthemwererelativelyyoungandthemastermindwasa29-year-oldgangster,SanNgeeAnn. Youngstudentswerehiredbythefraudgroup,andlatertheywereinformedoftherealbusinessofthefraudgroup,buttheaccusedstudentschosetostaywhentheywereluredwithacommissionof40%aftercommittingthecrime. SuperintendentYaoYongqinoftheNewTerritoriesSouthRegionalCrimeHeadquarterssaidthatthepolicefirstreceivedintelligenceaboutthefraudgroupinAugust.Aftertwomonthsofinvestigation,theyidentifiedthelocationofitsoperationcenterandtheidentitiesofthegroupmembers,andtookactionon9October. Severaldevicesincludingcomputers,phones,weaponsandluxurywatcheswerealsoseizedfromthecrimesite.AlltheaccusedhavebeenreleasedonbailpendingfurtherinvestigationandmustreporttothepoliceinlateOctober. Thearrestoperationcodenamed“CodeWord”mobilizedmorethan100detectivesfromtheNewTerritoriesSouthRegionCrimeDivision,andofficersfromtheCybersecurityandTechnologyCrimeBureauhelpedincollectingevidencerelatedtoInternetandcryptocurrencytransactions. cryptonewsz.com

InaninterviewwithMNBC,billionaireentrepreneurandinvestorMarkCubanrecentlysharedhisthoughtsonthepoliticallandscape,particularlyconcerningDonaldTrumpandtheinfluenceofwhalesinshapingpolicies.CubancriticizesDonaldTrump’stransactionalapproachtocryptocurrency,suggestinghissupportisdrivenbypoliticsratherthangenuineinterest. MarkCubansays‘BigCrypto’ownsDonaldTrump.pic.twitter.com/duSXoSeU9R —AltcoinDaily(@AltcoinDailyio)October15,2024 TheTransactionalNatureofTrump CubanpointedoutthatmanybusinessleadersarebackingTrumpsothattheycanmanipulatehimtoservetheirinterestinthefuture.HedescribedTrumpas“transactional”,suggestingthatsignificantdonationsarebeingmadethatcouldleadtopassingoffavorablepolicies.Thisnatureraisesquestionsabouttheintegrityofthepoliticalendorsementsandtheextenttowhichfinancialpowercanshapegovernance. Advertisement WhileCubanisallinforthecryptocurrencyanditspotentialutility,hedidraiseaconcernoverthisissueasthissituationcausesBitcoinownerstoinfluencepoliticalgrounds.Healsopointedoutthattillnow,considerableamountofdonationshavebeenmadeaimedatswayingTrump’sviewsoncryptotoalignwiththeirownfinancialinterests.Thismanipulationcouldleadtopoliciesthatonlyfavoracertaingroupratherthanabroaderpublic. ShiftinPoliticalSupport Inbroadercontext,CubanhasshiftedhissupportawayfromTrumpandisnowfavoringVicePresidentKamalaHarris.HebelievesthatHarrisrepresentsamorestableandopen-mindedapproachtogovernance.Herwayofthinkingcouldnotonlyaffectbusinessownersbutalsothegeneralpublic.Hisendorsementsindicateagrowingtrendamongentrepreneurswhoareconsideringtheirpoliticalaffiliationsinlightofrecentevents. Cuban’scommentshighlightacriticalissueinthecryptomarketwhereinfluentialplayerdomakeanattempttoshaperegulationsintheirfavor.Thissituationposesaschallengefortheindustryasitseekslegitimacyandacceptanceamongmainstreaminvestorsandregulators. cryptonewsz.com

Bitcoin(BTC)surgedtothe$65,000pricelevel,reachingadailyhighof$66,482.Thecryptocurrencyhittheresistancezone,andanuptrendwillbeconfirmedifBTCmaintainspriceactionabove$66,000. Santiment,ablockchainanalysisplatform,notedthisisthefirsttimesinceSeptember27ththatBitcoinhasbrokenabovethe$66,000pricelevel.Theliquidationofshortsinthepast24hoursisamajordrivingforcebehindthissurgeinBTC’sprice.Santimentexplained: “Astraderswithshortpositionswereforcedtocloseout(eithervoluntarilyorthroughmargincalls),itresultedinarapidpriceincrease,sparkingevenmoreupwardmomentum.” Additionally,Bitcointradingvolumealsohitatwo-weekpeakasBTCbeganitssurgestartingat15:35UTC,Monday.ItisimportanttonotethatDeFiliquidationsforBitcoinsawtheirsecond-highestspikeinoverthreemonthsduringthecurrentcycle. Santimentpointedoutthatthelasttimeliquidationsofthismagnitudewereseen,“Bitcoinwentona20-day,+29%pricerally.”Theblockchainanalysisplatformbelievesthatanotherstrongrallyisonthehorizonbecausehistorically,massiveDeFiliquidationsleadtohigherpricesforBitcoin. Bitcoinat$70,000? OnMonday,predictionsofBitcoinreaching$70,000andaboverosetotheirhighestlevelssinceAugust,whichsuggeststhatinvestorsareexpectingabreakoutfortheleadingdigitalassetastradingvolumealsosoars. AccordingtoCoinMarketCap,Bitcoinistradingat$65,299,up2.5%inthepast24hours.Overthepastweek,themarketleaderhasgrownaround4.6%,butBTCremains11.46%lowerthanitsall-timehighof$73,750,witnessedinJanuarythisyearfollowingtheapprovalofspotBitcoinexchange-tradedfunds(ETFs)intheUnitedStates. Disclaimer:Theinformationpresentedinthisarticleisforinformationalandeducationalpurposesonly.Thearticledoesnotconstitutefinancialadviceoradviceofanykind.CoinEditionisnotresponsibleforanylossesincurredasaresultoftheutilizationofcontent,products,orservicesmentioned.Readersareadvisedtoexercisecautionbeforetakinganyactionrelatedtothecompany. coinedition.com

DigitalassetprimebrokerageFalconXhaslaunchedanauto-liquidationservicedesignedtoenhancecapitalefficiencyforcryptominingfirmsintheAsia-Pacificregion,followingaturbulenttwoyearsthathavestrainedthesector. Theservice,partofthefirm’sbroaderplatformrollouttargetingtheindustry,isdesignedtohelpminersoperatingincapital-constrainedenvironmentsmanageliquiditymoreefficiently. Itsofferingautomatestheconversionofcryptominingrewards,includingBitcoin,Litecoin,andotherproof-of-worktokens,intoU.S.dollars,thecompanysharedexclusivelywithDecrypt. FalconXsaidtheservicewouldstreamlineminers\'operationsbyenablingfasterreinvestmentintotheirbusinesses,removingtheneedformanualtradingorrelianceonthird-partyproviders. Thecompanyaddedthatitsserviceoffersenhancedliquiditywhileminimizingcosts,withlowexecutionfeesandminimalslippage. Aspartoftheprocess,minerswhosignupfortheservicewillreceiveadedicateddepositaddress,throughwhichtheircryptorewardsareautomaticallyconvertedtocash. Thecompanyemphasizedthatthisprocesswouldimproveoperationalefficiency—criticalforanindustryknownforitstightprofitmargins. Itfollowsatumultuous24monthsforthecryptoindustryandminers,whohavefacedsignificantchallengesduetovolatilemarketconditions,risingenergycosts,andarisingBitcoinhashrate. ManyminershavealsostruggledwithprofitabilityasBitcoin\'spricefluctuationsandtighteningaccesstocapitalhaveputpressureontheiroperations. FalconXclaimsthenewplatformconsistentlyoutperformsleadingglobalexchangesinBitcointrades,withover90%oftransactionsexecutedatalowercost. \"FalconXaggregatesover94%ofglobalspotliquidity,andhence,weoutperformthepricinganddepthofmajorglobalexchanges,\"aspokespersontoldDecrypt. ThelaunchispartofFalconX’sbroaderstrategytobolstercrypto’scapitalmarketsbyprovidingliquidityandfinancialservicestailoredtominingfirms. Thecompanysaiditremainscommittedtosupportingminersastheynavigateanincreasinglycomplexandcapital-intensiveenvironment. FalconX,whichisbackedbyinvestorsincludingAccel,AmericanExpressVentures,andTigerGlobal,hasapresenceinmajorfinancialhubssuchasNewYork,London,HongKong,andSingapore. decrypt.co

MarketveteranPeterBrandtidentifiesanimportantpricelevelthatBitcoinneedstobreachtobreakthecurrentrange-boundstructure. inthelatestnewsaboutBitcoin,Thetoptrader’sanalysiscallsattentiontoseveralpricepointsandstructures,suggestingthatBitcoinisapproachinganimportantzone.Thisareacoulddeterminewhetherthepricemovesupwardorsuccumbstofurtherconsolidationordecline. BitcoinStruggles Thechartshowsadownward-slopingchannelthathasdefinedBitcoin’smovementsinceQ12024.Thischannelhaskeptthepricefluctuatingwithinarangeassupportandresistancelevelsformed. Bitcoin1DChart|PeterBrandt Themostsignificantamongtheselevelsisaround$68,224,whichBrandtidentifiesasa“junctionofimportantchartpoints.”Bitcoin’smovementthroughthiszoneisextremelyimportant. Brandtcalledthestructureaninvertedexpandingtriangleratherthanatraditionalbearflag.Notably,thistriangleformationcouldsuggestanimpendingbreakout–butonlyifthepricemanagestobreachtheresistanceat$68,224.Untilthishappens,Bitcoinremainsvulnerabletomoredownwardpressure. Thepremiercryptoassethasattemptedtobreakfreemultipletimes,buteachbreakouthasfailedtohold.Thishascreatedabearishscenariowheresupplypressurespreventsustainedupwardmovement,leadingtofurthersidewaysordownwardpriceaction. Interestingly,currentmarketrealitiessuggestBitcoincouldbeonthevergeofknockingabovethislevel,havingrecentlybreached$66Kamidtherallyyesterday.However,atpresstime,BTChasfacedacorrection,nowtradingfor$65,395.Bullsneedtoreignitethemomentumtobreakabovethe$68Kregion. Forcontext,wheneveraformationsuchasthisoccurs,abreakoutcouldleadtoasignificantmove.However,Brandtstressedthatthesituationremainsfragileuntilthemarketsustainsmultipleclosesabovethislevel. MarketSentiments Meanwhile,anothermarketanalyst,Colin,discussedadifferentperspectiveinresponsetoBrandt’schart.Hehighlightedthechangeinmarketstructure,withBitcoinrecentlymakinghigherhighsandhigherlows.Thishasfueledoptimismamongtraders. Therecentchangeinstructurefromlowerhighs/lowstohigherhighs/lowsmakesmeoptimisticthatwemayfinallyseeabreakout,butyou\'reright–untilitclearsthatyellowzone,it\'sstillbouncingbetweentheboundaries. Ithinkthistimeisit,though.Sentimentisout… —ColinTalksCrypto🪙(@ColinTCrypto)October15,2024 Whilesomebelievethebottomisinandabreakoutisimminent,others,includingBrandt,remaincautious.Colinagreeswiththiscaution.Theresistancearound$68,224remainsthedefininglinebetweenthecontinuationofthecurrenttrendandabullishreversal. Colinfurtherspotlightedmacroeconomicandpoliticalfactors.Hepointedtopotentialcatalysts,suchasupcomingelectionsorshiftsinmonetarypolicy,whichcouldimpactmarketsentiment. BitcoinMarketCorrelation Meanwhile,inaseparatedisclosure,BrandtemphasizedhisconfidenceinBitcoin’spotentialdespitethecurrentrange-boundmovements.HecalledattentiontodiscussionsaroundBitcoin’scorrelationwithtraditionalassetslikestocks,gold,andcrudeoilisalsoatopicofdebate. SomanypeopleaskhowBitcoiniscorrelatedto…Stocks…Gold…CrudeOil…etalWrongquestionInthefuturethequestionwillbehowanyassetclassiscorrelatedtoBitcoinpic.twitter.com/ocYI5vRS0n —PeterBrandt(@PeterLBrandt)October15,2024 However,hearguedthatBitcoinisbecominganassetclassinitsownright,withfuturecorrelationsexpectedtoshifttowardsBTCinfluencingothermarketsratherthanbeinginfluencedbythem. thecryptobasic.com

Thecryptocurrencymarketisseeingincreasedshortliquidationsasmajorassets,includingBitcoin,gainbullishmomentum. AccordingtodataprovidedbyCoinglass,thetotalliquidationsoverthepast24hourssurpassed$192million.Ofthistally,morethan$145millioninshorttradingpositionshavebeenwipedoutandtheremaining$46millionbelongstolongtrades. Cryptoliquidations–Oct.15|Source:Coinglass Bitcoin(BTC)recorded$63millioninliquidations—$55millionshortsand$7.7millionlongs—asitsurpassedthe$66,000markonOct.14.BTCisstillup2.3%inthepast24hoursandistradingat$65,300atthetimeofwriting. Ethereum(ETH)issittingonthesecondspotwith$37millionindailyliquidations—$30millioninshortsand$7millioninlongs.Thankstotheshortliquidations,theleadingaltcoincrossedthe$2,600markforthefirsttimeintwoweeks. Youmightalsolike:Bitcoin‘Uptober’inplayaheadofUSelection PerCoinglass,thelargestsingleliquidationorderhappenedonBinance,thelargestcryptoexchangebytradingvolume,andwasworth$5.2millioninETH/USDTpair. TheBinanceexchangeaccountsfor$94millionofthetotalliquidationswitha76%dominanceofshortpositions. Despitetherallyingliquidations,thetotalopeninterestinthecryptomarketincreasedby4.7%,reaching$69.5billion,perCoinglassdata.ThismovementusuallyshowssignsofFOMOandgreed. AccordingtodatafromCoinGecko,theglobalcryptomarketcapitalizationincreasedbyover$109billionoverthepastday—currentlysittingat$2.406trillion.Atthispoint,Bitcoinhasa54.2%dominanceoverthewholemarketwithatotalmarketcapofalmost$1.3trillion. AnotherbullishdriverfortheBitcoinpricewastheimpressivesurgeintheU.S.-basedspotBTCexchange-tradedfunds.Peracrypto.newsreport,theseETFsrecorded$555.9millionininflowsonMonday—markingafour-monthhigh. Readmore:CoinGecko:MajorassetclassesoutperformedBitcoininQ3 crypto.news

Thecryptopricestodayhavesparkedsubstantialinvestoroptimismglobally,pumpingheavilyonTuesday.Bitcoin(BTC)pricesoaredremarkablytotopthe$65Klevel,whereasEthereum(ETH),Solana(SOL),andXRPpricessurged2%-5%overthepastday.

ArecentanalysisofXRPpricemovementusingLinearRegressionsuggeststhealtcoinhassomeimpressivepricegrowthpotential. ThisanalysiscamefrommarketcommentatorEGRAG,whorecentlyappliedthistooltoevaluateXRP’strendlineandfuturepriceforecasts. EGRAGprojectedapossiblepricerangethatstretchesfrom$5upto$27byanalyzingstandarddeviationbands.TheresultssuggestthatXRP’spricecouldexperiencemoderatetoextremeupwardshifts,dependingonhowitreactstomarketconditions. XRPCurrentPosition EGRAGconfirmedthattheXRPpriceiscurrentlytradingnearthelowerendofthe-1standarddeviationband.Thisindicatesthatthealtcoinisoversoldandcouldbeprimedforapricecorrection. Linearregressionusesstandarddeviationbandstodeterminewhenanassetiseitheroverboughtoroversold.Whenpriceshovernearthelowerendofthesebands,asXRPdoesnow,itsignalsanimminentbouncebacktowardthemeanoraverageprice. ForXRP,theanalysthasidentifiedthatthemeanreversiontarget–wherethepriceislikelytogravitatebackto–isaround$1.85intheshortterm. Thisvalueisthemidpointoftheregressionchannel,andreturningtoitwouldrepresentasignificantpriceincreasefromXRP’scurrentlevel.ThismarksthefirstpotentialpriceshiftinvestorscouldexpectasXRPcorrectsfromitsoversoldposition. XRPPriceTargetsBasedonStandardDeviation Theupperbandoftheregressionchannel,locatedat+1standarddeviation,iswhereXRPwouldenteranoverboughtregion. BasedonEGRAG’sprojections,thislevelissetat$5.76inthenearterm.AsXRPapproachesthisprice,itcouldfacesellingpressureasitnearsthetopofitsrange. However,shouldXRPfollowthesametrajectoryitdidduringitspreviousmajorbullrunin2017,breakingabovethisupperbandwouldsetthestageformuchhigherpricelevels. XRPPriceStandardDeviation|EGRAGCrypto Forlonger-termprojections,theanalystsuggeststhatthemeanreversiontargetcouldreach$2.4inthecomingmonthsand$3withinayear.Meanwhile,theupperstandarddeviationbandrisesto$7.31inseveralmonthsand$9.3withintheyear. XRPPriceOvershootingtheStandardDeviationBands EGRAGalsoidentifiedapotentialforXRPpricetoovershootthe+1standarddeviationlevel.Thishappenedduringthe2017bullrun,andthesamecouldoccuragain.Shouldithappen,theanalystprovidestwoprojectionmodelsbasedonhistoricaldatafrompreviousXRPpricecycles. Thefirstmodelassumesa180%priceovershootbeyondtheupperstandarddeviationband.Usingthiscalculation,thepricecouldhit$16ifsuchaneventoccurred.The6-monthtargetunderthisscenariowouldbe$21,whilethe1-yearprojectioncouldreachanimpressive$27. Meanwhile,thesecondmodeltakesamoreconservativeapproach,predictinga110%overshoot.Forthis,theXRPpricecouldsurgeto$12immediately,reach$26insixmonths,andfallto$20withinayear. thecryptobasic.com