Current events in the cryptocurrency market include JPMorgan's forecasts for the XRP ETF, Bitcoin's challenges in 2025, and PEPE's market activity, especially in Japan.
XRP ETF: Investment Potential
JPMorgan predicts that a spot-based XRP ETF could attract between $3 billion and $8 billion in investments, based on the success of Bitcoin and Ethereum ETFs. Currently, ETFs make up about 8% of Bitcoin's market share and 3% for Ethereum. Ripple's head, Monica Long, has expressed optimism that XRP could be the next cryptocurrency to be included in the ETF list after Bitcoin and Ethereum. Companies such as Bitwise and WisdomTree are actively working on advancing their bids.
Bitcoin: Uncertainty in 2025
The beginning of 2025 poses some issues for Bitcoin, as it has not reached new highs. The formation known as 'head and shoulders' suggests a possible price drop. According to seasoned trader Peter Brandt, Bitcoin could face three potential outcomes: a drop to $76,000, a bear market scenario, or a more complex configuration. He also emphasizes that chart patterns are useful but do not guarantee precise market predictions.
PEPE: Whale Attention and Expansion in Asian Market
PEPE has drawn significant attention from large investors. Recent data reveals the purchase of 480 billion PEPE tokens, with one whale withdrawing 280 billion tokens valued at $5 million from Binance. Despite previous losses of $1.45 million, another large investor has invested 3.72 million USDC to purchase 200.4 billion PEPE tokens. Additionally, Binance Japan announced the listing of PEPE for spot trading, strengthening the token's position. At the time of writing, PEPE's price rose by 4.48%.
The cryptocurrency market faces new challenges and opportunities. XRP has the potential for significant investments through ETFs, Bitcoin deals with uncertainty regarding future price changes, and PEPE continues to expand its presence in Asia due to large investors' interest.
