GambleFi continues to make a rippling impact on the world of crypto markets and it seems no coins are immune to its effects. Lately, attention has been riveted on the web gambling platform Rollbit coin (RLB) as it navigates a daunting downward spiral. With the scenario rapidly evolving, many followers have started to wonder if RLB might drop to zero. Despite the global online gambling space being valued at around $63Bn, an investment in RLB, which has recently dropped by -40% from its recent high to a meager $0.1690, may seem risky to some.
Indeed, there is something unsettling about the swift descent of RLB, especially when juxtaposed with its soaring rise of +197% just earlier this month. This fluctuation has led to some apprehension among investors and serves as a stark reminder of the volatile nature of cryptocurrency markets. However, not all signals hint at doom, as a solid support level has noticeable surfaced around $0.16, potentially indicating an end to the coin’s rather steep downslide.
Interestingly, the cooling of the RLB price has also resulted in a cool-down of the Relative Strength Index, now marking at 44 – suggestive of a bullish divergence. This ripple effect could mean consolidation of the coin’s value is on the horizon. Conversely, it doesn’t completely dispel the daunting aspect of a tough risk-to-reward ratio of 0.79.
Contrarily to the drift in the state of RLB, XRP20, an Ethereum-compliant ERC20 token, is presently attracting a lot of interest. This crypto asset is intriguing in its philosophy and tokenomics that mirror Ripple’s but are crafted to cater to the retail markets. An astonishing $2.7m has already been raised for XRP20, which promises a guaranteed income from staking and a potential for capital appreciation that could give the original XRP a run for its money. Unlike XRP, XRP20 introduces a 0.1% transaction burn mechanism and plans to deduct 10% of the total token supply over time, thus adding another layer of appeal to this cryptocurrency.
Whether it’s the tale of the surging XRP20 or the tumbling RLB, the world of cryptocurrencies remain a fascinating landscape of complex contrasts. As with any investment, it carries an element of risk but the potential rewards could be beyond imagination. It continues to prompt the questions: Where is the next breakthrough likely to come from? Which token will defy the odds and surge ahead? Only time will tell. But the constant flux is what keeps the crypto world in perpetual intrigue.
Source: Cryptonews
