Analyst Reaffirms $8 XRP Target - What’s Driving the Long-Term Bullish Conviction?
Crypto markets got their daily dose of volatility as Bitcoin dipped 0.12% while fear gripped traders with the Crypto Fear & Greed Index sitting at a nervous 15.
The Fear Factor
Market sentiment remains firmly in 'extreme fear' territory as BTC struggles to find momentum. The 0.12% decline might seem minor, but in crypto land, even small moves trigger big reactions.
Analyst Confidence vs Market Reality
While the broader market sweats over short-term fluctuations, analysts continue pushing ambitious targets. The XRP $8 prediction stands in stark contrast to current market jitters - either brilliant foresight or another case of crypto analysts being permanently bullish while your portfolio stays permanently red.
Traditional finance might call this irrational exuberance, but in crypto, we call it Tuesday.
Major Crypto Events Today
Source: Forex Factory
24 Hour Crypto Market Update
Bitcoin is currently priced at $87886, representing a 0.12% fall in the past 24 hours. With $63.5 billion in trading volume and a $1.75 trillion market cap.
Ethereum trades at $2968.5, up 0.82% in the last 24 hours, with a $358 billion market cap and $22.6 billion in trading volume.
Monad (MON) is at $0.04782, up 49.57%, with a TV of $1.2B.
MetaArena (TIMI) is at $0.09995, showing a slight 0.12%, with a high TV of $3.72B.
Irys (IRYS) stands at $0.02674, falling 22.84%, supported by $64.15M in TV.
World Mobile Token (WMTX) at $0.1097, gaining 10.83%, with $21.25M in TV.
Bitcoin (BTC) is at $87,892.88, slipping 0.13%, but remains highly traded with $63.6B in TV.
Monad (MON) is priced at $0.04761, up 48.06%, with a trading volume of $1.20 billion.
Story (IP) trades at $2.93, rising 18.94%, supported by a trading volume of $156.67 million.
Kaspa (KAS) is valued at $0.05081, gaining 12.19%, with a trading volume of $112.56 million.
Canton (CC) is priced at $0.09006 and fell 5.96%, with a trading volume of $40.88 million.
Bonk (BONK) is trading at $0.059699, dropping 3.54% supported by $140.27 million in trading volume.
Aptos (APT) stands at $2.28 after a 3.20% decline, with a trading volume of $128.52 million.
Stablecoins hold a market cap of $305 billion with $92.3 billion in trading volume, representing a 0.5% positive change.
The DeFi market cap stands at $112 billion, increased 0.3% in the last 24 hours, with a trading volume of $6.1 billion. DeFi dominance remains at 3.6%.
Fear and Greed Index Today
Source: Alternative Me
The crypto Fear & Greed Index shows Extreme Fear today with a score of 15, down from 20 yesterday and equal to last week’s level. Sentiment has worsened sharply since last month’s Neutral reading of 51, indicating rising market caution and reduced investor confidence across the crypto sector.
Latest Cryptocurrency News Today
South Korea’s Gwangju Court jailed a fake trading platform operator for eight years after deceiving 116 investors and laundering $2.9M in crypto; three accomplices received shorter sentences.
Dunamu, operator of Upbit, said it may appeal the FIU’s $25 million fine and sanctions for alleged AML and KYC violations. The regulator also halted Upbit’s new user onboarding for three months.
Shenzhen’s Shuibe Gold market faces mounting account freezes as merchants unknowingly accept fraudulent funds. Banks and payment accounts are locked, disrupting business. Lawyers cite intensified anti-fraud drives and gold’s growing role in money laundering.
U.S. Producer Price Index increased by 2.7% compared to the same period last year in September, as expected by the market and slightly higher than the 2.6% in August, showing a steady increase in wholesale inflation with the stable economy.
Kintsu has deployed its liquid staking protocol on the Monad mainnet, which has on-chain, performance-based selection of validators. With a seed round of 4M, it provides non-custodial staking to increase decentralization and returns.
Texas has reportedly bought $10 million in Bitcoin at about $87,000 each, becoming the first U.S. state to do so. The state plans future self-custody after using BlackRock’s IBIT ETF.
Kevin Hassett is now the leading Fed Chair candidate, aligned with Trump rate-cut stance, as Treasury Secretary Scott Bessent narrows the shortlist to five after interviews.
U.S. Bancorp is testing its own stablecoin on the stellar blockchain as it expands digital asset services, focusing on custody and payments, citing Stellar’s asset-freezing feature as key for institutional control.
Coinbase will launch spot trading for Irys (IRYS) today. The IRYS-USD pair opens once liquidity is sufficient, with trading available on all Coinbase platforms, including institutional access.
Anchorage Digital will launch a compliant rewards program for USDtb and USDe holders through its independent unit, Anchorage Digital Neo Ltd., letting institutions earn on idle assets while meeting GENIUS Act stablecoin rules.
CoinGabbar’s Opinion
The extreme fear, mixed price movements, and high volatility make short-term investments relatively risky. However, strong activity in top gainers and rising institutional interest suggest selective opportunities. Investors should stay cautious, focus on fundamentally strong projects, and avoid emotional trading until market sentiment stabilizes.
Disclaimer: This is not financial advice. Please DYOR before investing. CoinGabbar is not responsible for any monetary losses.
