In the last 24 hours, the price of XRP has claimed a 1.5% surge to $0.702540. This uptick contrasts the cryptocurrency market’s stagnancy today. It’s worth noting that despite a 10% dip in the last seven days, XRP still boasts a considerable 45% increase in the last month and a whopping 110% rise in the past year. This trend is largely attributable to Ripple’s successful bout against the SEC. In the grand scheme, market analysts predict further expansion for XRP, especially after its recent re-addition to US-based exchanges. Ripple’s ongoing development as a corporation is likely going to invigorate XRP’s rise, potentially turning the altcoin into a heavy contender against Ethereum and Bitcoin in terms of trading volume and market cap.
However, XRP’s journey mirrors a rollercoaster with a 16% recoil from its post-ruling peak. Yet, indicators whisper a potential climb. Its relative strength index (purple) has shot back to 40 after plummeting below 30, signaling the arrival of potential buyers. Conversely, XRP’s 30-day moving average (yellow) still floats above its 200-day average (blue), insinuating that its current frailty isn’t quite over yet. But with XRP reaffirming its support level (green) today, rejecting a nosedive below $0.70, we anticipate an altcoin resurgence soon.
On a broader level, Ripple’s enhanced capacity to burgeon as a cross-border payments business, coupled with the Republic of Palau’s recent stablecoin introduction on Ripple’s XRPL network, underscores Ripple’s potential to capture significant adoption and usage. Going forward, market analysts expect XRP to touch $1 in the subsequent few months, possibly clocking off the year around $1.50.
While XRP meanders its way to $1, traders yearning for swifter or more diversified gains might consider newer altcoins and presale tokens. Currently turning heads is Evil Pepe (EVILPEPE), an ERC-20 meme coin that orchestrated its sale just a week ago. With over $800,000 raised and seven days to go, the token aims to amass a total of approximately $2m.
EVILPEPE’s intriguing approach reserves 90% of its total maximum supply (6.66 billion) for presale, making it a highly decentralized meme token. This decentralization has enticed a considerable number of investors, who appreciate the assurance against dramatic sell-offs or rug pulls by its issuers. Sporting a solid and growing community of investors, EVILPEPE is poised for sustained growth once it hits exchanges in the coming weeks.
Disclaimer: As a high-risk asset class, Crypto comes with considerable risks. The information in this article serves informational purposes and should not be construed as investment advice. Always remember, you could forfeit all of your capital.
Source: Cryptonews
