Cryptocurrency forecast for today. News from Japan
The Bitcoin (BTC) price declined slightly towards the $58400 support. Ethereum (ETH) rose to the level of $2120, and the price of Ripple (XRP) reached $1.05. The total capitalization of the digital currency market was $1.98 trillion.
The Central Bank of Japan has launched a proof-of-concept test of ProofOfStake for the state-owned cryptocurrency. This testing phase will last until March 2022. According to the Bank of Japan, after initial preparations for testing the technical feasibility of the main functions and capabilities of the state cryptocurrency in early 2021, the Central Bank begins testing the proof of concept. At this stage, it is planned to develop a test environment for the system and conduct experiments with the main functions related to the payment, issuance, distribution and repayment of the state cryptocurrency. The Central Bank of Japan noted that, although it does not plan to issue a state-owned cryptocurrency, from the point of view of ensuring the stability and efficiency of the payment and settlement systems, it is still important to prepare for changes in circumstances in an appropriate way.
The value of the XRP token has updated a three-year high, breaking the $1 mark. The asset shifted USDT from the fourth place in the rating of currencies by capitalization. At the same time, many experts believe that the fate of XRP remains uncertain. This is due to the closeness of the Ripple company itself and numerous suspicions of fraud. Right now, XRP is showing growth amid rumors of a token relisting on a number of exchanges, including Coinbase. But this does not indicate a positive outcome of the proceedings. The previous series of delistings had no serious legal grounds, and the token technically remains in service. If the company loses the court, then XRP risks being finally squeezed out of the crypto market, and if it wins, its price can soar at times.
In the forecast, I expect Bitcoin to grow to the level of 59000 Dollars. Ethereum will rise to the level of 2200 Dollars, and XRP will adjust to the price value of 1 Dollar.