Tech
Ripple Price Prediction: XRP Holds $0.46 Support Level
Ripple (XRP) is firmly resisting market pressure. Its price remains stable at the $0.46 threshold, give hope to the bullsThis stability suggests a possible upward move for XRP.
July could bring good news for XRP, as two significant events could push its price higher: the SEC/Ripple case, which is speculated to be concluded in July, and the PostFinance listing. Given this positive outlook, Ripple’s XRP can break through the $0.5 resistance and conquer new heights? Let’s explore the possibilities.
Ripple (XRP) Price Action
XRP has been playing in the green zone for four consecutive trading days after hitting Friday’s low of $0.468. While bears prevailed today, with XRP shedding 2.61% of its gains, it continues to trade above $0.46.
Ripple (XRP) is trading at $0.4752. The daily chart shows the cryptocurrency approaching the $0.46 support, with the price dropping by 10% in the last 30 days.
However, July has historically been a strong month for XRP, with significant gains recorded over the last two years.
In July 2022, Ripple’s XRP surged from $0.30 to $0.55. It witnessed a similar surge in July 2023, taking the price from $0.45 to $0.90, representing a gain of over 100% in a few days.
XRP is currently at the same level as last year before rallying 100%. Market participants are hoping that this level will precede a significant rally, offsetting the bearish performance in June.
XRP Set for Breakout: Bullish Signals Emerge
Since last year, Ripple’s XRP has held firmly above the important $0.40 level, preventing further declines.
As the chart above shows, XRP is close to breaking its long-term bearish trend linewhich could push it to $0.5. If it gets to $0.5, a small push from the bulls could see XRP reclaim its yearly high of $0.74
The MACD is above its signal line, indicating potential short-term bullish momentum. The RSI at 43 shows that XRP is not yet overbought and there is room for further price increases.
Overall, the current market setup of XRP looks promising; strong support and breakout potential make it an attractive option for investors. However, the cryptocurrency market is volatile and the advertised trajectories could change unexpectedly.
PostFinance Boost: XRP Gets Support from Swiss Banks
PostFinance, one of the largest Swiss financial institutions, now offers negotiation and custody for XRP and other assets.
This move significantly increases Accessibility and Recognition of XRP in the Swiss market. It opens up new markets, strengthens XRP’s position in the cryptocurrency world, and could increase investor confidence in XRP, leading to a significant price increase.
Ripple’s Legal Victories Could Boost XRP Price
Ripple’s recent legal developments could have a positive impact on XRP’s price. The company has filed a brief in support of its case against the SEC. In the filing, Ripple argues that its XRP sales do not warrant severe penalties. A recent ruling in the Binance case supports this position.
Part of the deposit law“On June 28, 2024, the United States District Court for the District of Columbia issued an Opinion and Order in SEC v. Binance Holdings, Ltd., No. 1:23-cv-01599-ABJ-ZMF (Exhibit A). Binance granted in part and denied in part a motion to dismiss the SEC’s claims that sales of certain digital assets were sales of unregistered securities. It found persuasive and followed the Court’s summary judgment opinion in this case, extending its reasoning to apply to secondary market sales of one of the assets at issue.”
The SEC reduced its proposed penalty from $2 billion to $102.6 million. Ripple said the amount was adequate should not exceed 10 million dollars.
This softened approach could be seen as favorable for Ripple. Furthermore, many to hypothesize that the long-running lawsuit could conclude in July. If the SEC case ends in Ripple’s favor, it could spark bullish momentum for XRP, pushing it to new highs.
Pepe Unchained: A New Meme Coin With Level 2 Ambitions
While we await XRP’s game-changing move, this new meme coin, Pepe Unchained, may be worth considering for investors looking to diversify. Pepe Unchained (PEPU) is making waves in the meme coin world with its presale.
Unlike most meme coins, PEPU is not just another fun money project; it aims to create a layer 2 blockchain for meme coins on Ethereum.
Pepe Unchained Features
This Layer-2 solution solves common problems in the meme coin industry. PEP promises faster transactions and lower fees than Ethereum. It could be 100 times faster, making meme coin trading smoother. This promise has attracted many enthusiastic participants.
The project has shown a strong presale performance, raising over $2 million in 18 days. Early investors can purchase tokens at a discounted price of $0.008227. Additionally, PEPU offers a double staking protocol with high returns, potentially up to 894% per year.
Eager investors have already staked over 178 million tokens, demonstrating their enthusiasm for this project. PEPU is building a strong community; with thousands of followers on social mediais attracting the attention of influencers and ranking sites.
Additionally, some of the biggest influencers have noticed the project, describing as a “very cool” meme coin. Pepe Unchained’s unique approach of combining the fun of meme coin with serious blockchain technology makes it a Crypto Projects to Watch in 2024.
However, as with all investments, potential buyers should do their research before committing money.
Disclaimer: The views expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile and high-risk asset class.
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