After enduring a drop of 2% in the last 24 hours, XRP appears to be on an overall uptrend with a 4.5% increase in the past week and 4% in the last 30 days. Despite the recent dip, the currency remains 54% higher since the start of the year, thanks to some encouraging legal developments involving Ripple, its parent company. A federal court recently backed Ripple in an SEC lawsuit, reinforcing positive sentiments to XRP’s case, which hold that it isn’t a security by nature. This turn of events further cements XRP’s standing in the crypto world.
But the coin’s future isn’t devoid of uncertainty. Technical indicators show a mixed position. Although XRP’s 30-day moving average indicates an oversold status suggesting a potential rebound, a sinking relative strength index adds ambiguity to the prognosis. However, XRP’s rising support level evokes optimism, indicating the coin is unlikely to undergo significant drops soon. Observing XRP’s ability to resist a drop below its current support of around $0.51 will offer a clearer insight into its short-term trajectory.
The currency’s case was further bolstered when Judge Analisa Torres rejected the SEC’s appeal for a violation of security rules around programmatic sales of XRP. Judge Torres maintaining her initial ruling offers XRP ample room to prosper. Now, analysts anticipate XRP hitting $0.75 by year-end, following a steady climb to $0.60 in the coming weeks.
But optimal crypto investments might lie beyond the hotspots like XRP. Traders seeking above-average returns should turn their attention to newer tokens, such as pre-sale coins. A promising pre-sale opportunity presents itself with Meme Kombat (MK), a unique gaming platform scheduled to AI-generate meme battles for users to stake on. Despite being in the field for a meager two weeks, they have collected an impressive $300,000 plus.
The novelty MK offers within the crypto realm might be just the pick-me-up for a cryptocurrency investor. Its MK token has a hard limit of 12 million tokens, inherently deflationary in nature. Half of this supply will be dedicated to the pre-sale. More notably, MK may offer DACA investors substantial rewards similar to the Wall Street Memes concept.
In conclusion, the present crypto-market concerto appears to harmonize a relatively bearish composition for XRP and a potentially epic crescendo for MK and the likes. Regardless, crypto investments remain high-risk, necessitating cautious, well-informed decisions.
Visit Meme Kombat now – Disclaimer: This article offers informational insights and does not advocate specific investment advice. Capital losses are a risk in this volatile market.
Source: Cryptonews
