- 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
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.