XRP Price Surges to Three-Month High, Bitcoin Reaches $36,000, and Shiba Inu Burns 173 Million Tokens

According to CryptoPotato, XRP's price increased to $0.73, its highest in three months, potentially due to Ripple's new partnerships and positive progress in its SEC lawsuit, with speculation of a bull run if Ripple wins the case. Bitcoin reached a price of $36,000, the highest in 18 months, with the BTC Fear and Greed Index indicating “Greed” for 16 consecutive days, suggesting high investor interest and optimism. Shiba Inu burned over 173 million tokens, resulting in a 20,000% increase in the burn rate, potentially increasing its value, with developments in the Shibarium layer-2 solution aiming to enhance its position in the memecoin market. XRP's impressive price performance could be attributed to the numerous deals Ripple has inked recently, including partnering with Kuwait Finance House for cross-border payments and being selected by the National Bank of Georgia for a digital currency project. Another factor playing a role in XRP’s rally could be Ripple’s steady march toward a decisive win against the US Securities and Exchange Commission (SEC). The firm has so far secured three vital partial wins, with a grand trial next spring expected to determine the outcome of the lengthy legal battle. Bitcoin's price soared to $36,000 last week, a figure last seen 18 months ago. As a result, the popular BTC Fear and Greed Index entered into “Greed” territory and has stayed in that zone for the last 16 consecutive days. This was last observed in November 2021, when the asset reached an all-time high of almost $70,000. Meanwhile, Shiba Inu witnessed over 173 million assets removed from circulation, representing an almost 20,000% burn rate increase compared to the day before. The burning program aims to reduce the overall supply of SHIB and potentially make the coin more scarce and valuable. Another element that could trigger a price increase is the further development of the layer-2 blockchain solution – Shibarium, which aims to elevate Shiba Inu as a leader in the memecoin realm by improving speed and lowering transaction costs.