In this issue, we will explore the latest news from the cryptocurrency world, including the sharp rise of the CRO token, changes in XRP's price, and the current situation with Bitcoin.
CRO Takes the Spotlight
This week, the Cronos (CRO) token became a surprising star in the crypto sector, seeing its price skyrocket over 100% in three days. The current price of CRO is around $0.29, after reaching nearly $0.40, a level not seen since spring 2022.
The surge was fueled by Trump Media, which announced plans to purchase approximately 2% of the total CRO supply for $105 million. The Truth Social and Truth+ platforms will launch a rewards system, utilizing Crypto.com's wallet and adopting CRO as a utility token.
Despite the recent drop, analysts remain optimistic about further upside in the short term, projecting targets of $0.50 and even $0.8868.
The Future of XRP
Ripple's XRP token is currently trading around $2.85, after failing to break above $3.10. Analyst Ali Martinez warned of a potential drop to $2.83 if $3.10 was not overcome.
However, some experts maintain an optimistic view. X user Mags estimated that XRP may be gearing up for a rally similar to that seen in 2017, with possible price targets of $5.20 and $7.30.
BTC Situation
Bitcoin reached a new all-time high of over $124,000 in mid-August but has been on a clear decline since then, trading below $110,000. With its market capitalization dropping below $2.2 billion, September has historically been a bearish month for BTC.
Yet, prominent figures like Cardano's founder Charles Hoskinson remain unfazed, predicting a surge to $250,000 within this cycle and a market cap of $10 trillion in the next five years.
In summary, the current dynamics in the cryptocurrency market exhibit not only the rise and fall of individual tokens but also various forecasts for the future, making the situation both interesting and complex.
