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The cryptocurrency market gained attention due to the rising price of Ripple’s XRP, the increased burn rate of Shiba Inu, and Bitcoin’s consolidation near record levels. XRP saw significant value gains supported by legal developments, while innovations within the SHIB ecosystem also drew interest. Bitcoin 
$106,862 remained a focal point with expectations nearing $100,000.
XRP Rises with Legal Developments
Ripple 
$2-supported XRP stabilized at $1.90 after a weekly increase of 30%. Positive developments in the ongoing lawsuit against the SEC have fueled this rise. The reduction in legal uncertainty has bolstered investor confidence, allowing XRP’s market capitalization to surpass that of Binance‘s BNB.
Open positions in futures trading exceeded $2.5 billion. Ripple is planning the launch of the RLUSD stablecoin soon, pending approval from the New York Financial Services Department. Legal outcomes favoring Ripple have increased demand for XRP.
Attorney Bill Morgan stated, “The SEC case is expected to conclude with new management,” strengthening investors’ optimism about XRP’s future.
SHIB and Bitcoin Capture Market Interest
Shiba Inu recently emerged due to ecosystem developments and an increased burn rate. SHIB has successfully attracted the attention of large investors. Updates to the Shibarium network have enhanced its functionality, while the increased burn rate signals potential future price increases by limiting supply.
Attorney Fred Rispoli noted, “The high burn rate of Shiba Inu supports price movements,” emphasizing the interest in the coin. This performance prompted investors to assess SHIB’s earnings potential for Q4.
Meanwhile, Bitcoin consolidated above the $95,000 level, being viewed as a movement close to all-time highs. Notable investor Robert Kiyosaki suggested Bitcoin could exceed $100,000, while Vancouver Mayor Ken Sim’s proposal to consider Bitcoin as a reserve asset also attracted attention.
Market experts predict that Bitcoin could reach new peaks due to increasing demand and positive market dynamics. Analysis from CoinGape Media indicates that Bitcoin has followed historical trends closely.
This week, the performances of XRP, SHIB, and BTC have captured investor attention, creating significant market impact.
