Ripple Price Forecast As XRP’s Volume Hit 7 Months High
With Ripple XRP making waves in the crypto market, recent data reveals a surge in trading activity, reaching a seven-month-high. This spike in volume has sparked curiosity among investors, prompting the question: Can XRP achieve a price milestone of $1?
But XRP's price in the past 24 hours has remained stagnant, with no visible price increase or decrease. Currently priced at $0.502512, XRP has recorded a slight 4% decline over the past week and a more substantial 19% drop over the last month.
Despite these recent fluctuations, it's worth noting that the altcoin has demonstrated an impressive increase of 47% since the beginning of the year.Also, its price in the past 24 hours follows the wider cryptocurrency market trend, showing a modest percentage of its gains.
Ripple's XRP Recorded Massive Inflows, Indicating its Potential for Future Growth
Based on Santiment data, the XRP network recently achieved an unprecedented milestone, recording an on-chain transaction volume of 4.8 billion tokens.
Additionally, XRP circulation surged to a historic high, reaching 2.03 billion tokens. The on-chain data revealed that the development activities surrounding Ripple have increased significantly, indicating strong adoption by developers.
#XRP is seeing major utility spikes to start the month. In addition to today's milestone highs in #onchain transaction volume (4.8B $XRP) and circulation (2.03B $XRP), the development activity for the 5th largest cap asset in #crypto is up big as well. https://t.co/AdWcrUun9n pic.twitter.com/QHQ6U8Q0J5
- Santiment (@santimentfeed) September 1, 2023
Overall, this surge indicates a healthy level of liquidity, engagement, and confidence within the XRP ecosystem.Such robust trading activity often serves as a positive indicator, suggesting that XRP may have the potential for further gains in the days ahead.
Investors should monitor these developments, as they could potentially shape the future performance of this digital asset.
XRP/EUR Pair Listed On Major Exchange: Could This Be The Bullish Catalyst?A big crypto platform, Bybit, just added a new way to trade Ripple with Euros (XRP/EUR). A popular XRP enthusiast, Bill Morgan, shared a picture of the blog post about this new option.
Bybit has introduced 8 trading pairs with EUR including an XRP/EUR pair pic.twitter.com/TgvezUheGC
- bill morgan (@Belisarius2020) September 6, 2023
In its blog, Bybit stated it will improve user experience, making it easier for users to buy and sell XRP using Euros.The trading platform, based in Dubai, also brought in Euro trading pairs for seven more cryptocurrencies like BTC/EUR, ETH/EUR, LTC/EUR, DOGE/EUR, ADA/EUR, USDC/EUR, and SOL/EUR.
Many other exchanges, like Coinbase, have also started allowing XRP trading again after a significant legal decision on July 13. This increased accessibility and convenience can attract more potential buyers, potentially driving up demand and, consequently, the price of Ripple.
XRP Price Analysis Using Technical Indicators Suggest Long-term Bullish Trend
XRP/USD's current position within the moving averages suggests an intriguing market scenario.The trading pair (XRPUSD) finds itself trading near the 200-day Simple Moving Average (SMA), indicating long-term price stability and support.
However, it's worth noting that the coin is currently positioned below the 50-day SMA, which is typically considered a shorter-term bearish outlook.
Investors and traders should closely monitor this position to gauge whether the coin can regain strength and push back above the 50-day SMA, potentially signaling a resurgence in short-term momentum.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator signals an increase in momentum as it's above the signal line. If the price breach above the 50-day SMA and MACD sustains this momentum, the market could rebound, potentially sending Ripple to the $1 mark.
This collides with the XR's price prediction of Changelly, which forecasted that the coin will potentially hit cross the $1 mark by 2024.
Presently, the Relative Strength Index at 32 shows that the coin is in an oversold region, and there could be a price rebound at this level. Nevertheless, it's crucial to approach such situations cautiously and conduct thorough analysis before making investment decisions.
XRP Potential Target If Price Rebounds from Key Support
Since August 19, XRPUSD has demonstrated a commendable level of stability, experiencing minimal fluctuations in its price.However, should the market break below this consolidation phase, a potential support level at $0.4225 exists.
At this point, there might be a rebound in the coin's price, creating a promising opportunity for investors. In the event of a rebound, the coin could head to the major resistance level at $0.980. This would signify an increase of over 100%.
However, if the bulls fail to hold the $0.4225 support level and the price drops below it, the next possible level will be the yearly low of $0.300. Ripple's decline below this point will signal a negative sentiment that might lead to high bearish pressure and further price drop.
Nonetheless, cryptocurrency markets can be unpredictable, and factors beyond technical analysis may come into play. Conducting thorough research and considering various market dynamics is essential before making investment decisions.
While Ripple projects an uncertain future, investors can purchase WSM now to make gains as soon as it launches on exchanges.
Wall Street Memes Hits Over $25m in Presale Round as the Countdown to Exchange Listing Begins
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The Wall Street Memes $WSM token presale surpassed over $25 million just 19 days before its official exchange listing. Wall Street Memes has achieved this remarkable result through effective marketing strategies and an actively engaged online community, surpassing initial expectations.
This success has created significant anticipation for the imminent launch of an exchange associated with Wall Street Memes.As the $WSM presale reaches its final phase, numerous community members forecast that this token could become the next sensation in the cryptocurrency market, akin to explosive meme coins.
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This staking initiative is experiencing rapid growth, with nearly 288 million $WSM tokens already committed, as Wall Street Memes' staking dashboard indicates.
Staking is important for Wall Street Memes as it encourages investors to hold $WSM for passive income generation. Crucially, Wall Street Memes' staking yield is anticipated to remain around 90% APY in the foreseeable future, distinguishing it from other projects that provide lower interest rates.
Predictably, the introduction of this staking protocol has been well-received by $WSM holders, who had been eager for the development team to incorporate a meaningful purpose for the token.
With a defined use case, $WSM now stands out from the many meme coins that lack genuine functionality or practicality.
Huge Marketing Campaign by Wall Street Memes TeamThe team behind Wall Street Memes has outlined an extensive long-term roadmap, which encompasses creating an exclusive gated community" and the aspiration to reach a $1 billion market capitalization for $WSM.
These bold objectives underscore the team's confidence in the Wall Street Memes project and their dedication to constructing a resilient ecosystem. Furthermore, the Wall Street Memes team intends to partner with meme creators, influencers, and content platforms to enhance the visibility of $WSM.
These objectives have unsurprisingly captured the interest of influencers within the community, including notable figures like Joe Parys Crypto, who believe that $WSM has the potential to become the next meme coin with 100x growth.
While this projection might appear optimistic, the recent achievements of meme coins such as $PEPE, $WOJ, and $TURBO demonstrate a significant demand for well-crafted projects with substantial online followings.
With Wall Street Memes' well-defined strategy and dedicated community, the project has the potential to align with these successful endeavors, offering substantial rewards to its early supporters.
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