Upcoming Ripple (XRP) Events, Shiba Inu (SHIB) Achievements, Bitcoin Price Drop: Bits Recap April 4

TL; DR

BTC fell 6% on the week, affected by a broader market correction but also ruled by long-term bullish indicators such as the halving event. The value of SHIB will decrease, but the ecosystem will grow with milestones such as Shibarium growth and high exchange rates. Ripple is awaiting a key trial with the SEC, which could impact its price and broader crypto market volatility.

BTC ‘struggles' below $70k

The cryptocurrency market has recently entered a correction mode, with Bitcoin (BTC) being one of the most affected digital assets. Its price is down 6% on a seven-day scale, currently trading at $65,400 (per CoinGecko data).

Profits from long-term holders may have contributed to BTC's better volatility of late and the price decline. Earlier this week, CryptoPotato reported Many such investors have leveraged some of their positions to cash in, raising the value of the property to over $73,000.

Despite the ongoing negative trend, much of the crypto community remains bullish that a new bull run is on the horizon. The popular index of fear and greed is currently in the “greed” state and has He stayed There in the last two months.

The transition from exchange to self-sustaining mechanisms (as described by CryptoQuant) and the upcoming Bitcoin halving indicate that. A rally may be just around the corner. The latter event is an event that verifies blocks on the blockchain, halving the rewards distributed to miners and reducing the time it takes to produce new coins.

It occurs roughly every four years and repeats several times over the next century until the maximum supply of 21 million BTC is produced. Historically, Half of it It was a prelude to a major recovery in the value of major cryptocurrencies and the overall value of the digital asset market.

For those interested in exploring more elements that suggest BTC's true bull run has just begun, please watch our dedicated video below.

SHIB has made headlines

While the popular meme coin – Shiba Inu (SHIB) – has also fallen heavily in the past week, some parameters related to the ecosystem have risen.

An example is the latest phase achieved by a layer-2 scale solution – Shibarium. as a Cryptopotato reportedThe total number of blocks on the network has exceeded the 4 million mark.

In addition, the leading Indian cryptocurrency exchange, WazirX, It was announced That Shiba Inu was the most traded digital asset on the platform for March. The token outperformed Bitcoin (BTC), Pepe Coin (PEPE), Floki Inu (FLOKI), and its biggest competitor in the meme coin niche – Dogecoin (DOGE).

What's Next for Ripple (XRP)?

April is therefore considered an important month for Ripple and its native XRP. The beginning of the trial Between the company and the US Securities and Exchange Commission on April 23. The resolution of the three-year legal battle can bring about the overall market growth (if it is indeed a decisive victory for Ripple).

However, the start of the trial does not mean the case will end soon. According to ChatGPT, appeals can be filed from either side. Delay The result until 2026.

Some speculate that Ripple will enter the trial in 2023 with the upper hand after securing three decisive (but partial) court victories. XRP price has responded positively to each. Grinding After the first victory in double figures.