As the XRP vs Bitcoin debate heats up amid Trump’s crypto reserve plans, Ripple CTO David Schwartz sheds light on XRPL decentralization. In a bold statement, Schwartz stated, “XRP has no issuer.” Ripple CTO Clarifies XRPL Decentralization: Details In the latest development, Ripple Chief Technology Officer David Schwartz sheds new light on the decentralization aspects of the XRP Ledger. He stated that Brad Garlinghouse’s role as Ripple’s CEO doesn’t impact the decentralization of XRPL, highlighting the distinction between the company and the blockchain. Further, Schwartz added that XRP’s unique characteristic lies in its lack of an issuer, with all tokens created at the ledger’s inception. “Unlike most other blockchains, XRPL has no rivalrous features, so the ledger itself can’t really do the initial distribution beyond letting anyone who wants to take as much XRP as they want,” added the Ripple CTO. Notably, Schwartz’s comments came in response to UFC champion… Read More at Coingape.com
Ethereum price fell below $2,000 on Thursday, March 28, as the crypto market reeled amid intense volatility and bearish pressure. This decline has shifted the attention of traders from ETH to Ethereum rivals that can record significant gains in price.
Ethereum price trades at $1,906 at press time, marking its lowest level in more than a week amid US PCE inflation. On the weekly chart, ETH had formed a triple-top pattern, which suggests that the price is about to make a sharp reversal from an uptrend to a downtrend.
ETH price has been rejected again at the neckline of this triple top, which means that the bearish pressure is strong. If the downtrend progresses, it is possible that Ethereum will fall to $1,520.
ETH/USD: 1-week Chart
Besides the weak retail demand that is forcing Ethereum price to drop, institutions also appear uninterested in accumulating during the dip. Data from SoSoValue shows that spot ETH ETFs have experienced three weeks of persistent outflows.
Amid these bearish headwinds, crypto traders are looking for the best Ethereum rivals that they can buy.
Top 3 Ethereum Rivals to Buy
The top 3 Ethereum rivals to buy after ETH price dropped below $2,000 include Ripple (XRP), Solana (SOL) and Cardano (ADA).
Ripple (XRP)
The top Ethereum rival to buy today is XRP. This altcoin shows signs of outperforming ETH after the XRP/ETH ratio surged to its highest level since November 2020. Additionally, this ratio is at the upper Bollinger band, which further suggests a bullish outlook, which could cause a breakout to the all-time high price of 0.0036.
XRP/ETH: 1-week chart
Besides this rising ratio, other factors suggest that XRP can outperform ETH. XRP is at a pivotal point after the Ripple lawsuit was dismissed. The Ripple army is optimistic that the end of the case will attract interest from institutions through spot ETFs. On Polymarket, the odds of an XRP ETF being approved by the end of the year have soared to 85%.
Solana (SOL)
Solana is another Ethereum rival to buy for significant gains. Just like XRP, Solana has outperformed ETH in recent months, with catalysts like a spot ETF application by Fidelity and adoption by BlackRock for the BUIDL fund set to drive further gains.
The daily price chart shows a looming Solana bullish breakout that could lead to gains. This happened after SOL touched resistance at the upper trendline of a falling parallel pattern. If the MACD line crosses above the zero line to confirm a bullish momentum, it could lead to SOL escaping this bearish pattern.
SOL/USDT: 1-day Chart
Cardano (ADA)
The other Ethereum rival that traders should consider buying today for significant gains is Cardano. The Cardano network is recording a significant uptick in global adoption after TapTools revealed that it has surpassed 5.25 million wallets.
Cardano price is currently trading within a consolidation range. However, the AO is rising, suggesting that bulls might regain control. If buyers break ADA price from this consolidation zone, it might spark a rally towards the 161.8% Fibonacci level of $1.54.
ADA/USDT: 1-day Chart
Final Thoughts on Ethereum Rivals to Buy
Ethereum price has dropped below the critical support level of $2,000, suggesting that bearish headwinds might push the price down further. Amid this drop, the top Ethereum rivals that traders can buy today include XRP, Solana, and Cardano.
Shiba Inu meme coin has recently rattled the crypto market by following one of the latest trends in the sector. The crypto’s team shared an X post this Friday that read, “Shib is for everyone.” This post follows the recent “Base is for everyone” token buzz.
Notably, Coinbase Layer 2 network Base earlier posted a very similar comment on X. As an upshot, the crypto realm saw the unintended launch of a new coin, with its price skyrocketing momentarily before falling from grace.
Shiba Inu Team Shares “Shib Is For Everyone” Post After Base, Here’s The Scoop
Shiba Inu team’s account @Shibtoken shared an X post on April 18 that read, “Shib is for everyone.” Further, the team shared another post soon after that read “Coined it.” The latter post was linked to Zora, a platform that allows users to mint content as tokens.
As mentioned above, these posts mainly follow the Coinbase L2 network’s recent chronicle. It’s noteworthy that the Layer 2 network shared an X post that read “Base is for everyone, followed by another post that read, “Just coin it,” linking it to the platform Zora.
The upshot? A domino effect kicked in, and these posts by the Layer 2 network ignited the launch of a new token that wasn’t even officially verified. Notably, this new token soon hit a market cap of over $20 million before erasing over 40% in value and retracing to $11 million. In turn, crypto market traders and investors are left abuzz amid this token’s launch, whilst the Shiba Inu team is now following similar footsteps.
It’s notable that some crypto traders even turned a mere $4.5K investment into a whopping $666K with the new “Base is for everyone” token. This saga put a major spotlight on the crypto project, with some even tossing insider trading and rug-pull allegations.
Did SHIB Price React Similarly To “Base Is For Everyone” Token?
Meanwhile, the hourly SHIB price chart shows that the meme coin witnessed a 1% uptick after the post by @Shibtoken, reaching $0.0000118. Its price recovered after hitting a low of $0.00001164 intraday. Notably, market experts like IAmCryptoWolfy are wondering about the sudden jump in Shiba Inu price, highlighting the surge on X.
Source: IAmCryptoWolfy, X
However, this upward trajectory is relatively diminished compared to what the new Base token witnessed before falling. Besides, CoinGape recently reported that SHIB’s daily volume has also hit remarkable levels. As a result, traders and investors remain optimistic about what lies next for the meme coin’s price as it taps into one of the latest market trends amid bullish dynamics.
Coinbase exchange has made significant improvements to its Solana network infrastructure to enhance speed, resiliency, and scalability. The exchange further said that certain technical improvements have been implemented that have boosted performance numbers for Solana transactions on the exchange.
Coinbase doubles down on Solana ecosystem commitment
As per Coinbase’s announcement, the enhancements comprise asynchronously processing transactions. This has seen block processing throughput increase five times. The company has also introduced bare metal machines that have seen RPC (Remote Procedure Call) performance improve four times. These enhancements come with better failover mechanisms, liquidity optimizations, and enhanced operating controls to enhance the overall system resilience.
We’ve been hard at work scaling our @Solana infrastructure to be faster, more resilient, and more scalable.
We have upgraded our systems to: → Process transactions asynchronously, leading to a 5x improvement in block processing throughput. → Leverage bare metal machines for 4x… pic.twitter.com/WFINzCutNK
Coinbase upgraded its infrastructure, which means it wants to improve its Solana features as more and more people use the blockchain. The exchange highlighted that these technology upgrades will enable it to process transactions more effectively and dependably for senders and receivers of SOL and Solana tokens.
Coinbase said that this work is part of their dedication to achieving the best performance for Solana transactions. The company said that they will keep working on it and plan to invest more in Solana infrastructure to keep up with the growing demand as the network grows.
The upgrades are happening now because more institutional investors and developers are becoming interested in Solana. Coinbase has changed how it manages Solana’s fast blockchain by processing transactions at the same time. The announcement comes as Canada is set to approve multiple spot Solana ETFs this week.
SOL price shows bullish indicators amid institutional interest
As Coinbase improves its technical infrastructure for Solana, analysts are noting positive price action for SOL. Analyst Andrew Griffiths has identified several bullish technical indicators in his recent analysis of Solana’s price movements.
According to Griffiths, Solana has broken out of a descending parallel channel on the daily chart, retouched the trendline, and begun moving upward. The price has remained above the 21-day exponential moving average (EMA) for several days and remains above solid support around the $117 level.
**Daily Analysis:** – Price has broken out of a descending parallel channel, retouched the trendline, and is on the rise. – Closed above EMA21 for several days, overcoming an initial hurdle! – Price is above strong support around… pic.twitter.com/phvoODMj5o
Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are still in a bearish trend on daily charts but are moving closer to the positive axis.
MACD and RSI are both bullish on the 4-hour time frame. Price is over the 22-period EMA, and the 21-period EMA is over the 55-period EMA. The 200-period EMA has been stable with current price action, and current candles have closed over all EMAs.
Institutional interest in SOL also appears to be growing, with analyst Gordon reporting that real estate firm Janover has purchased an additional 80,567 SOL worth approximately $10.5 million. This acquisition brings Janover’s total Solana holdings to 163,651 SOL in its treasury.
