Interesting events continue to unfold in the cryptocurrency world. Let's review the latest news, including XRP's performance, Bank of America's evaluation of Bitcoin, and the surge in Shiba Inu whale inflows.
XRP: Potential Fakeout
XRP's recent market performance has attracted attention as potentially one of the biggest fakeouts of 2025. On June 16, XRP's price briefly rose above key moving averages at around $2.27, creating hopes for a rally towards $2.40-$2.50. However, within 24 hours, the asset sharply declined to about $2.23, indicating buyer hesitation. This is a common sign of a failed breakout, which can lead to panic selling. Currently, XRP is trading at $2.13, down 3.47% over the last 24 hours.
Bitcoin Compared to Printing Press
Bank of America has compared Bitcoin to the printing press and the Ford Model T in terms of its disruptive potential. The bank notes that Bitcoin, alongside key innovations such as social media, the iPhone, and AI, has significant growth potential. Unlike most banks that express hostility towards Bitcoin, Bank of America has maintained a bullish stance since 2013. In January, the bank's CEO predicted that banks would start using cryptocurrencies for transactions.
Whale Activities in Shiba Inu
According to IntotheBlock's large holder inflows indicator, Shiba Inu whale inflows surged by 6,306%, reaching a six-month high. The inflows jumped from 54.97 billion SHIB on June 15 to 15.05 trillion SHIB on June 16, marking the largest activity since early 2025. The reasons for this sudden spike are unclear, but it may be due to whales positioning themselves ahead of expected developments such as Shibarium upgrades.
Amid recent events in the cryptocurrency world, there is both volatility and heightened interest from large investors. XRP is facing challenges after a brief surge, Bitcoin gains recognition from major banks, and Shiba Inu attracts attention due to active holder actions.
