JPMorgan Predicts XRP ETF Might Attract $8 Billion, Peter Brandt Shares 3 Bitcoin Price Scenarios That Could Shape 2025, 480 Billion PEPE Transferred in Hours: Crypto News Digest by U.Today
U.Today – Check out U.Today’s top three news stories over the past day.
JPMorgan: XRP ETF might attract $8 billion
According to a recent prediction by JPMorgan, a spot-based XRP ETF could attract inflows between $3 billion and $8 billion, based on the performance of Bitcoin and Ethereum ETFs launched last year. Currently, ETF assets represent approximately 8% of Bitcoin’s market cap, while Ethereum ETFs have a lower penetration rate of around 3%. As reported by U.Today, Ripple‘s Monica Long has expressed optimism that XRP will be the next cryptocurrency to receive ETF approval following Bitcoin and Ethereum. Multiple firms, including Bitwise and WisdomTree, are competing to launch an XRP ETF in the U.S., with analysts predicting approval could occur this year. Last week, Nate Geraci, one of the top ETF analysts, issued a forecast suggesting that a spot XRP ETF is likely to be approved this year.
Three Bitcoin price scenarios that could shape 2025 unveiled by Peter Brandt
The start of 2025 has not been favorable for the crypto market, particularly for Bitcoin, which has not managed to break out to a new all-time high. Instead, it has formed a head and shoulders pattern, a formation ominous in that, after the second shoulder is formed, the asset’s price may drop below the neckline and draw down by as much as the head was worth. In his recent X post, legendary trader Peter Brandt has outlined three possible outcomes for Bitcoin’s price: a drop to around $76,000, the formation of a “bear trap” leading to a short squeeze or the development of a larger, more complex pattern. Brandt emphasizes that while patterns can provide insights, they are not set in stone, and the current market uncertainty reflects the challenges even seasoned traders face in predicting Bitcoin’s trajectory.
480 billion PEPE transferred in hours; What’s happening?
According to data from Spot On Chain X account, yesterday, PEPE attracted significant attention from crypto whales, with 480 billion tokens purchased in a short period. As stated in the X post, two large whales have made substantial investments in PEPE; one whale withdrew 280 billion tokens valued at approximately $5 million from Binance. Another whale, despite previously losing $1.45 million on PEPE, has invested 3.72 million USDC to acquire 200.4 billion frog-themed tokens, hoping for a potential price rebound. Meanwhile, PEPE is set to enhance its presence on the Japanese market; on Jan. 9, Binance Japan announced the PEPE listing, now offering Pepe (PEPE) in spot trading. At the moment of writing, PEPE is changing hands at $0.00001736, up 4.48% over the past 24 hours, per CoinMarketCap.
This article was originally published on U.Today
