The XRP price has declined by 2% today, with the wider market suffering as a New York court finds FTX founder Sam Bankman-Fried guilty of fraud.
Despite its drop, XRP has held to the $0.601658 level, marking a 10% gain in a week and a 15% jump in a fortnight.
The coin has also risen by 76% since the beginning of the year, with Ripple’s legal successes and hope surrounding Bitcoin ETFs largely responsible for this increase.
Such a gain has provided XRP with considerable momentum, which is likely to ramp up as the cryptocurrency market sees out the year.
XRP Price Prediction as XRP Jumps 10% to $0.60 Level – Here’s What’s Coming Next
Despite today’s dip, XRP’s indicators remain strong, signalling ongoing momentum.
Its 30-day average (yellow), for example, recently climbed over its 200-day average (blue), providing a sign of an imminent breakout.
Source: TradingView
It’s also encouraging that XRP’s RSI (purple) remains above 70, another indicator of firm buying pressure that could support its price in the next few days.
Other positive signs include a rising support level (green) and a relatively high 24-hour trading volume, which stands at around $1.5 billion, in contrast to $300m in early October.
As such, it’s relatively safe to say that XRP market activity remains elevated, such that the coin could push further in the coming days.
25,400,000 #XRP (15,426,739 USD) transferred from unknown wallet to #Bitstamphttps://t.co/VFHTWoVbXx
— Whale Alert (@whale_alert) November 2, 2023
However, the latest whale data suggests that larger traders are more likely to offload XRP than accumulate it.
This would imply that the coin may dip a little more before returning to growth.
Yet the wider picture for XRP remains very good, with the coin recently benefitting from positive news regarding the long-running Ripple-SEC case.
In particular, the SEC withdrew last month from a trial against Ripple execs (scheduled for next year), something which some commentators suggest has effectively ended the case.
That said, the SEC and Ripple will still need to hash out a settlement agreement, with a penalty for the cryptocurrency firm to pay on account of violating some securities laws.
Okay, YES, this does make a full settlement much more likely as the only legal question left is how big a check Ripple writes to the SEC.
There, I said it. Are you happy now?
— Jeremy Hogan (@attorneyjeremy1) October 19, 2023
For this reason, we may not see a massive XRP price rally until Q2 2024.
But when it comes, the coin could return to $1, if not higher.
Diversification With New High-Potential Alts
Because XRP may need several more months before rallying big, some traders may prefer to diversify into newer alts, including presale coins that could rally big when they list on exchanges.
A prime candidate for having such a rally is TG.Casino (TGC), a decentralized casino that has raised over $1.65 million in its token sale.
We’ve been quietly growing, it’s time for our first public release of Casino numbers, from launch…
Players have wagered $10 Million+
Casino players has surpassed 1200+
Total deposits has exceeded $1 Million
Join our Community TG for more info. pic.twitter.com/OdJCCevITf
— TG Casino (@TGCasino_) November 2, 2023
What distinguishes TG.Casino from other presale coins is that it has actually already launched its casino platform, which has amassed more than 1,200 players already and exceeded $1 million in deposits.
These numbers are impressive for such a new platform, and it hints at the kind of growth TG.Casino could enjoy in the coming months, once it’s more established.
One factor helping the platform to grow more quickly than its rivals is its use of Telegram, where it already has more than 5,000 members on its channel.
It announces and conducts bets on its Telegram channel, which also serves to provide its platform with a a social element that keeps users hooked.
We have passed the $1.6 million checkpoint$TGC is blowing up! pic.twitter.com/1RriRQSHPU
— TG Casino (@TGCasino_) October 31, 2023
Another strength of TG.Casino is its native TGC token, which holders can use for staking, and which will have a capped supply of 100 million.
Investors can buy some early by visiting the official TG.Casino website, where 1 TGC currently costs $0.15.
Given that TG.Casino is already launched and already growing, such a price is likely to seem remarkably cheap when the token lists on exchanges in the next month or so.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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