Important XRP Price Predictions, SHIB Latest, Binance Updates – Bit Summary September 4th

TL;DR

Despite the recent price drop, analysts are predicting a potential rebound for Ripple’s XRP, with some expecting a rally following a key pattern breakout. The Shiba Inu ecosystem is growing with the release of a new game, “Agent Shiboshi,” now available on iOS, and updates to “Shiba Eternity.” Binance increased collateral ratios for several cryptocurrencies, including Floki Inu (FLOKI) and Dogs (GOGS). XRP Price Outlook and Predictions

The entire cryptocurrency market has fallen significantly, and Ripple’s XRP is no exception. Its price is down 7% on a two-week scale, hitting a local low of around $0.53 a few hours ago. It currently trades at approximately $0.55 with a market cap of $31.1 billion.

XRP Price, Source: CoinGecko

Despite the bearish conditions, numerous industry participants think an upside move could be in the cards. User X Crypto Yapper argued that the token’s value broke out of a major bearish wedge formation on September 2 and is now headed towards $0.63.

JAVON MARKS and Mando CT were much more bullish. The former believes that XRP’s recent performance mirrors that of 2017-2018, which was then followed by a rise to an all-time high. “Prices may be on the verge of another extreme rise to an extreme level not seen in 6-7 years,” the trader predicted.

For his part, Mando CT, a popular X user known as a big supporter of Bitcoin (BTC), said he will accumulate as many XRP tokens as possible.

“Once XRP escapes, it will soar parabolically!! XRP sentiment remains bullish despite BTC size. Clear bullish divergence forming. Ripple will settle fine with SEC and fly strong,” he added .

SHIB developments

The popular meme currency made headlines earlier this week thanks to a game that is part of its ecosystem that continues to thrive.

As reported by CryptoPotato, the Shiboshi agent was made available on iOS after an “amazing response” from Android users. The game incorporates missions and battles and allows players to use their Shiboshi NFTs.

Another important Shiba Inu related game is Shiba Eternity. Not long ago, the team implemented specific improvements to it, such as improved rewards, elite tournaments, and a new ranked mode.

Recent Binance Amendments

The world’s largest crypto exchange also made waves. Earlier this week, the collateral ratio of several cryptocurrencies increased, including some trending meme coins like Floki Inu (FLOKI) and Dogs (GOGS). The update went live on September 3rd and took about an hour.

FLOKI’s guarantee ratio was increased to 40% from the previous 35%, while DOGS saw a more substantial increase from 10% to 30%.

Collateral ratio in the crypto world represents the amount of collateral needed to back a loan or maintain an open position. It is usually expressed as a percentage and indicates how much the collateral is worth compared to the amount borrowed. A higher ratio provides more confidence that the lender can recover its funds, even if the market takes a downturn.

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