Comebacks and comeuppances are common in the mercurial world of crypto markets—something that fans of Render know all too well. In the past two months, an unflattering -40% price retracement has sent shivers down the spines of many. Rejected at the $3 highwater mark, the digital token now measures a lowly $1.70, a far cry from its May valuation.
A silver lining in an otherwise dark cloud, the leading Web3 GPU project appears to be reviving form a grave -40% price drop. However, with the 20DMA and 200DMA lines forming the ever-dreaded ‘death cross’ on the graph, the future seems uncertain. Should RNDR fall into the abyss of a pivotal upward retest of the 20DMA resistance, it might be time to let go.
But it’s not all doom and gloom. The ever-overzealous RNDR community would be thrilled to know that the currency shows signs of life at the $1.50 lower trendline. The bullish stature seems energetic: RSI is overselling at 43.44 while the MACD line is teetering at an unusual 0.00.
But a tough journey lies ahead. If RNDR can turn its moving averages into footholds, it has a real shot at a $2.15 return—a solid 25.5% gain. But falling afoul would be catastrophic, with a plunge to a risk-loaded $1.25 level a real possibility.
As RNDR plays out this binary fate, it is worth noting that cryptonauts have moved onto greener pastures. For instance, XRP20 is already the darling of prudent investors.
Claiming an innovative spot on the Ethereum network, XRP20 is far more than a mere glorified Ripple deposit box. With an ERC20 compliance, it offers a promise of handsome returns from staking. A shining example of its appeal is the $1.79m already staked on the platform.
A price comparison puts XRP20 decisively 30 times lower than XRP, making it a lucrative option. Ripple’s thorny legal landscape offers even more reasons to opt for XRP20. Unlike other coins, XRP20 injects a 0.1% burn mechanism and eyes a 10% scale of total supply over time.
While the independent project is not related to Ripple labs or XRP, it taps into a large XRP base and others seeking a new slice of the crypto pie. Furthermore, the decentralized XRP20 is leaving even XRP behind in terms of Google search ranking.
XRP20’s grand entry with mass adoption in its horizon underscores this crucial principle: crypto is high-risk and also high-reward. Riding the crest of a $1.79 million investment wave, XRP20 looks set to chart a multi-million dollar course. As always, prudent investors should weigh their options, keeping one eye on the promising XRP20 presale and the other on indispensable platforms like Twitter and Telegram.
Source: Cryptonews
