Source: Dall•E 3
The XRP price has dropped by 2% in the past 24 hours, with the altcoin losing ground today after a bullish couple of weeks.
At $0.652310, XRP has also fallen by 6% in the past week, yet it remains up by 17% in a fortnight and by 35% in the last 30 days.
Such medium-term momentum is likely to return in the near future, with the overall market remaining bullish, and with XRP in an increasingly strong fundamental position,
XRP Price Prediction as $1 Level Approaches – Can XRP 10x From Here?
XRP’s indicators suggest that the coin could be in the middle of a dip, yet it remains possible that this dip could be brief.
Most notably, XRP’s relative strength index (purple) is sinking towards 60, a sign of growing selling pressure.
Source: TradingView
Yet on the other hand, the coin’s 30-day average (yellow) continues to rise further beyond its 200-day average (blue), having crossed over the latter at the end of last month.
Because the 30-day remains high, it’s tempting to conclude that XRP’s medium-term momentum remains promising, and that the coin should return to growth soon enough.
The coin’s support level (green) bolsters this view, in that it has been rising consistently since the end of October.
On top of this, the overall trajectory of the market has been upwards in the past few days, boosted by ongoing positivity surrounding Bitcoin ETFs.
Spot bitcoin ETF approval *could* come this week…
Here’s my attempt to briefly summarize the situation that @JSeyff was all over.
h/t @SGJohnsson pic.twitter.com/whAAiHxwaZ
— Nate Geraci (@NateGeraci) November 13, 2023
Yet at the same time, XRP has strong enough fundamentals to rise on its own account, with Ripple having enjoyed a series of important victories against the SEC in recent weeks.
Not only did the cryptocurrency firm secure a largely positive judgment in its case with the regulator in July, but more recent court pronouncements have also fallen heavily in its favor.
Most recently, a 2nd Circuit appeals court ruled that the SEC couldn’t demand a big penalty from Ripple unless it proved that the firm had caused investors financial harm.
This likely means that a settlement between the two parties will not include a large fine for Ripple, something which will make it easier for the latter to continue its business as before.
Based on such positive, XRP is likely to reach $0.80 in the next few weeks, before opening the New Year at around $1.
Other High-Potential Altcoins
XRP may be one of the most promising tokens for next year, but it isn’t the only altcoin with the potential to rally big,
There are also several newer alts with this kind of potential, including several presale coins that have raised significant sums of money and seem set up to have strong listings.
One of these is TG.Casino (TGC), a decentralized casino that has raised over $1.9 million since opening its presale a month ago.
TG Casino has passed $1.9 million raised in presale!
We are so close to the $2 million mark. Let’s push! pic.twitter.com/wUn7s3PgNW
— TG Casino (@TGCasino_) November 12, 2023
TG.Casino has been successful in attracting investors by virtue of its unique platform, which will operate on Telegram.
By harnessing Telegram and its pre-existing communities, TG.Casino has already been able to grow its channel to an impressive size.
Indeed, its own channel now has over 6,000 members, with many of these likely to be existing and future investors in the TGC token.
The TGC community has now grown to 6000+
We are growing strong! pic.twitter.com/jsvWyIam9D
— TG Casino (@TGCasino_) November 13, 2023
This is an impressive number for such a young project, yet it’s also encouraging that TG.Casino has actually already launched its casino platform, in contrast to many presale tokens which remain under development for months.
This helps to explain why investors have felt confident enough to join the TGC presale, with new buyers able to do so by going to the official TG.Casino website, where 1 TGC costs $0.155.
TGC will have a maximum supply of 100 million, with holders able to earn a passive income from the token by staking it.
This potentially makes the coin very profitable, and with the TG.Casino platform already attracting plenty of gamers, it could rally big when it lists on exchanges later in the year.
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.
The post XRP Price Prediction as $1 Level Approaches – Can XRP 10x From Here? appeared first on Cryptonews.
