- Chris Larsen, the co-founder of payment giant Ripple, announced a $5 million plan to finance the “Change the Code” campaign.
- Greenpeace, alongside climate activist groups and Ripple’s co-founder, launched a campaign to alter Bitcoin’s power consumption.
- Ripple price prepares to break out of its downtrend as analysts predict a rally in XRP.
Ripple price started a rally in response to the news of a $5 million campaign to reduce Bitcoin’s power consumption. Chris Larsen, co-founder of Ripple, believes Bitcoin’s power consumption could match that of Japan in the next five years.
Ripple price rally begins as altcoin eyes $1
Ripple price is posting gains since the past week, offering investors a 5% profit on their investment over the past seven days. The payment giant’s co-founder Chris Larsen announced the launch of a new campaign to reduce Bitcoin’s power consumption and offered an environmentally friendly consensus model.
The campaign, “Change the code, not the climate,” is aimed at Bitcoin miners and industry leaders like Elon Musk and Jack Dorsey. A change in Bitcoin’s consensus model could reinvent mining through a low-energy protocol and reduce the asset’s negative impact on climate.
Greenpeace, an independent environmental global campaigning group headquartered in Amsterdam, has cited concerns regarding energy required to mine Bitcoin. Greenpeace halted BTC acceptance after accepting Bitcoin donations for seven years beginning 2014.
Greenpeace and Larsen are pushing for a fundamental shift in Bitcoin’s consensus mechanism. Larsen told Bloomberg that,
Now with Ethereum changing, Bitcoin really is the outlier. Some of the newer protocols, Solana and Cardano, are built on low energy.
Larsen revealed his Bitcoin and Ethereum holdings and insisted BTC take a sustainable path ahead.
Analysts have evaluated the Ripple price trend and predicted a rally in the altcoin. @Thecryptomist, a crypto analyst, identified a bullish ascending triangle in the Ripple price chart and predicted a continuation of the XRP rally.
$XRP
— The Cryptomist (@Thecryptomist) March 28, 2022
Posted this last week within is bullish ascending triangle.
Broken my downtrend resistance.
This looks ready to take off! pic.twitter.com/HDYMjhOcH7
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Shiba Inu inspired meme coin BONE notes first rise following the 55% crash in two months
Bone ShibaSwap, also known as BONE, is one of the few meme coins that had a positive run on Monday. The meme coin is best known for being a token of the Shiba Inu ecosystem but is slowly emerging into an entity of its own, provided it can attract enough users to fuel its long overdue recovery.
Binance reopens Belgium operations after three months of suspension by FSMA
Binance has resumed operations in Belgium, around three months after suspension. An earlier report indicated that the Belgian regulatory body, Financial Services and Markets Authority (FSMA), instructed Binance to halt operations in the country beginning June 23 for violating laws.
Optimism, YGG, AGIX prices ready for impact with almost $40 million worth in cliff token unlocks this week
Optimism, Yield Guild Games, and SingularityNET ecosystems have massive token unlocks slated for later this week. Up to 12.42 million YGG tokens will be unlocked on September 27, a day before 9.68 million AGIX tokens are unleashed to the market.
Bitcoin and other crypto asset funds could grow by 1,200% by 2028: Bernstein Research
Investments in crypto assets have been a dicey move, especially considering the recent market conditions. However, the optimism surrounding their future has been considerably supported by many individuals. Losing this opportunity could also scale your efforts back by over five years.
Bitcoin: BTC downside likely after 20-week EMA culls bulls
Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.