XRP Price Prediction: XRP Price Consolidates While A New Token Attracts Investors
XRP has been on a free fall after its sharp rally in July. The token recorded heightened volatility, quickly rising and falling at short intervals. However, some experts believe a strong upward trend could be upcoming for XRP.
While XRP's price has remained stable in the past few days, investors have shifted their eyes to this latest token in the ecosystem, hoping to emulate the BTC price movement.
XRP's Google Search Rate Declines, What's Next?
Google Trends data shows that people's interest in XRP has significantly decreased since it reached its highest point on July 13.Globally, the interest score has fallen to 7; in the U.S., it's dropped even more to 5 as of September 6.
Back to boredom #xrp https://t.co/V35iLTMUVG pic.twitter.com/O0PC4l8Rym
- CoinsKid (@Coins_Kid) September 7, 2023
This drop in public attention comes after an unclear decision from the U.S. District Court of the Southern District of New York on July 13.However, some experts in the market suggest that the decreasing interest in XRP on search engines may indicate that it's not overly hyped.
They propose following the investment strategy of buying when it's quiet and selling when it's not." This could be a favorable approach for XRP, presenting a good opportunity to purchase.
According to CoinGecko data, XRP saw its value go above $0.90 following the court ruling, but it has since been downward.The XRP is valued slightly above $0.50, marking an increase of almost 1% in the last 24 hours.
Ripple Introduces Two New Features in Latest XRPL UpdateRipple has unveiled an upcoming update for the XRP Ledger. These new features are currently awaiting approval from the community. This update, version 1.12.0, incorporates the Automated Market Maker (XLS-30) and Clawback (XLS-39) specifications into the network.
1/ We're excited to announce that the XLS-30 AMM spec and XLS-39 Clawback spec have merged to the latest version of rippled 1.12.0.https://t.co/zbg8G4PHsC
- RippleX (@RippleXDev) September 6, 2023
On July 1, 2022, Ripple's CTO, David Schwartz, and Aanchal Malhotra, Head of Research at RippleX, introduced a new feature called the Automated Market Maker.
This feature improves the way the XRPL Decentralized Exchange works by adding an automated system that enhances returns for liquidity providers. It could have a positive impact on the XRP coin.
On the other hand, the clawback feature is a lightweight addition to the Rippled 1.12.0 codebase, enabling users to opt-in to receive newly issued assets through their TrustLine.
It's worth noting that this feature, introduced by XLS-39 and specified by Nick Bogalis in 2022, is specific to issued assets and cannot be used for XRP. These proposed changes will only become active upon approval by the validating community.
XRP Price Analysis Using Technical Indicators
Source: TradingView
The daily chart shows that XRP has been stable since its price fell toward $0.5000 on August 21. Since then, the trading activities have not been significant as XRP oscillates between $0.500 and $0.550.
Also, XRP is hovering around the 200-day SMA line, which suggests a stable market. But the coin's price is lower than the 50-day SMA line that looks at shorter-term trends.
This suggests that, lately, the XRP's performance in the short term could have been better than its overall trend. The signal from Moving Average Convergence/Divergence (MACD) that shows the momentum is increasing.
If the price goes up and stays above the 50-day M.A., XRP might bounce back and could even hit its long-term estimated $1. Right now, the Relative Strength Index is at 35, which means the coin might be oversold, indicating a possible price increase from the current level.
However, it's important to be careful and do a thorough analysis before making any investment decisions, especially in situations like this.
XRP Potential Resistance and Support Zones
Source: TradingView
XRP is trading between its primary support of $0.4225 and resistance level of $0.5500. Looking at the chart, XRP is closer to the first resistance level ($0.5500) and might break above if there is a positive market sentiment.
But, failure to breach the above may result in further price decline toward the support level, creating panic within the community. If the bulls couldn't take back control of the market, the bears might send XRP to its yearly low of $0.300, representing a decrease of 45.5% from its present value.
XRP Alternative - Bitcoin BSC Begins Presale, Raises Over $200,000 In Less Than a WeekIntroducing Bitcoin BSC, a fresh take on Bitcoin developed on Binance's BNB Smart Chain. This innovative token mimics key aspects of Bitcoin, such as its total token count and inflation rate, while also bringing in exciting additions like staking, sustainability, and enhanced practicality.
The Bitcoin BSC's initial offering started with strong crypto community interest. The project garnered over $200,000 in funding in just three days, indicating a high likelihood of surpassing the presale target in no time.
BTCBSC: A Sustainable and Income-Generating Alternative to Bitcoin
While O.G. Bitcoin inspires BTCBSC, it leverages modern technology to minimize its environmental impact and offer investors an avenue for passive earnings.
Operating on the BNB Smart Chain (BSC), BTCBSC employs a proof-of-stake consensus mechanism for transaction validation, which is significantly more eco-friendly compared to the energy-intensive mining process utilized by Bitcoin.
Not only is BSC's proof-of-stake system more environmentally sustainable than Bitcoin mining, but it also translates to lower transaction costs compared to Ethereum, which employs a proof-of-stake blockchain.
Instead of relying on computational power for cryptocurrency mining, proof-of-stake blockchains reward stakers with new tokens, with higher staking amounts resulting in greater returns.
Staking rewards in Bitcoin BSC fluctuate based on the staked token quantity. As the staking pool grows, the annual percentage yield (APY) decreases, yet this also trims down the available supply for sale, potentially leading to a potential surge in the token's value.
Presently, Bitcoin BSC offers substantial staking rewards, exceeding an APY of 10,000%. To provide context, stock market returns have averaged approximately 11.28% since 1950.
Crypto Analyst Predict 10x Gains On BTCBSCAfter a dynamic beginning to its presale, well-known crypto analyst and YouTuber Jacob Bury noticed Bitcoin BSC and expressed an optimistic outlook on its future.In a recent video, Bury emphasized the token's 10x growth potential and underscored the significance of its Stake-to-Earn feature.
Given Bury's track record for identifying promising presale projects early, his endorsement often resonates with other respected YouTubers.As a result, we anticipate a substantial increase in influencer and media attention for Bitcoin BSC in the upcoming days, potentially contributing to its presale momentum.
The ongoing Bitcoin BSC presale, accessible to the public, offers an opportunity to acquire $BTCBSC tokens at $0.99 each.This price point harkens back to 2011 when Bitcoin had a circulating supply of 6 million tokens, and Litecoin was the only other cryptocurrency.
Bitcoin BSC, with a total token supply mirroring Bitcoin's at 21 million coins, will release up to 6,125,000 $BTCBSC tokens during the presale, resulting in an initial market cap of $6,063,750.
The remaining substantial portion of the token supply, which accounts for 69% or 14,455,000 $BTCBSC tokens, is allocated to provide staking rewards to project investors.
Interested investors can buy $BTCBSC during the presale with BNB, ETH, or USDT.Check out the Bitcoin BSC whitepaper at bitcoinbsc.io for more details.
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