The crypto market is going through a period of intense volatility, with significant position changes. Solana solidifies its position in the top 5 by surpassing XRP in market capitalization, while Bitcoin faces critical support levels that could shape the market's trajectory in the coming weeks. Meanwhile, a public controversy arises as Charles Hoskinson clashes with Peter Schiff's bearish forecasts.
Solana has fired a direct shot at XRP through its official X account: “no bridge currency”. This mocking reference targets XRP’s historical role as a bridge currency in Ripple’s payment solutions. The provocative tweet immediately inflamed the XRP Army, who accused Solana of playing the rivalry card to mask its own ambitions in international crypto transfers.
Meanwhile, Western Union, the global remittance giant operating in over 200 countries, has announced its decision to select the Solana blockchain for deploying a stablecoin transfer solution.
Unlike Ripple’s model, this infrastructure completely eliminates the use of an intermediary asset: funds move directly in USDC or equivalent, settled in seconds with minimal fees. A spokesperson reportedly highlighted Solana’s speed, stability, and reduced costs as decisive criteria.
This partnership marks a turning point: for the first time, a traditional player of this magnitude explicitly rejects the concept of a “bridge currency.” The blockchain payments war is intensifying.
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The price of Bitcoin is currently navigating through a turbulent zone with a tangible risk of retesting lows around $105,000. The leading cryptocurrency oscillates between $110,000 and $106,000, a level that now constitutes a major psychological resistance after failing to maintain $112,000.
The Black Friday period adds an additional dimension to this equation. Historically, this period generates increased volatility with sharp movements in both directions. Traders are closely monitoring the $106,000 support, whose breach could trigger a cascade of liquidations and send BTC toward October price zones.
Technical indicators show a bearish divergence on the daily RSI while trading volumes gradually decrease. This combination suggests a weakening bullish momentum. Liquidity levels concentrated below $100,000 constitute potential price magnets that the market might seek to reach before any significant recovery.
The founder of Cardano, Charles Hoskinson, has publicly criticized Peter Schiff for his consistently wrong predictions regarding Bitcoin. The traditionalist economist and unconditional gold supporter has been predicting BTC’s imminent collapse for years. Hoskinson pointed out that despite decades of bearish predictions, Bitcoin has multiplied its value by thousands.
This confrontation illustrates the persistent gap between traditional asset supporters and cryptocurrency defenders. Schiff maintains that Bitcoin has no intrinsic value and will eventually collapse, while Hoskinson and other crypto sector leaders point to BTC’s resilience and growing adoption as proof of its legitimacy.
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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