He XRP price it is down 0.5% in the last 24 hours, though its decline to $0.745059 still means it is up 56% in the last seven days.
XRP continues to get strong momentum caused by Ripple’s positive outcome in its SEC case, and the altcoin is also up over 100% in the last 12 months.
Given XRP’s current strength, and given that it was undervalued for so long due to the SEC case, it is likely that the cryptocurrency will continue to post gains in the coming weeks.
And since Ripple is now likely in a better position to continue growing its business, the long-term future could really see XRP become the third largest coin on the market, behind Bitcoin and Ethereum.
XRP Price Prediction As Bulls Hold $0.70 Level – Where Is The Next XRP Target?
XRP indicators continue to point to considerable strength, with the coin’s relative strength index (purple) still remaining above 60 despite a decline since the weekend.
More impressive still, XRP’s 30-day moving average (yellow) continues to rise sharply above its 200-day average (blue), showing no sign of running out of steam any time soon.
Similarly, the altcoin’s support level (green) is also increasing, which means that XRP has consolidated around a much higher base level, allowing new rallies to be launched from higher and higher initial positions.
In purely technical terms, XRP’s current position looks strong and promising, but its fundamental position is perhaps even stronger given the events of the past week.
As mentioned above, Ripple received a mostly positive ruling in its case with the SEC, with Judge Analisa Torres concluding that the company’s non-institutional sales of XRP (for example, its sales on exchanges) did not equate to the offering of securities. not registered.
This has allowed the vast majority of exchanges serving the US to re-list XRP, providing another major factor in the coin’s ongoing rally.
And it’s arguable that things will only get better for XRP from now on, with Ripple likely to expand more aggressively now that it has secured what many consider a victory.
As we have pointed out before, Ripple has consistently posted positive financial resultseven during its case with the SEC, which means it is likely to perform even more positively in the months and years to come.
It will likely be able to sign more new partnerships, as it has in recent months and years, with the University of Toronto, Canada’s largest university, become an XRP validator in JuneFor example.
Such partnerships put Ripple in a good position to continue its growth, and XRP is likely to grow in parallel.
From its current position of $0.74, it could easily go as low as $1 in the coming weeks, before seeing the year closer to $2.
Diversify with New Altcoins
XRP is undoubtedly one of the strongest major tokens on the market right now, but it would be unwise for traders to hedge all their bets with the altcoin.
Instead, a diversified portfolio can often be one of the best ways to increase investors’ chances of big returns, with a number of newer altcoins showing high potential right now as well.
This is particularly the case for pre-sale tokens, with Wall Street Memes already raising over $15.5 million in its WSM token sale.
Growing out of the stock meme movement that sparked the 2021 GameStop and AMC rallies, Wall Street Memes has succeeded in cultivating a strong community, with his Twitter account now has more than 252,000 followers.
Such a following is the main reason why its pre-sale has been so successful, and it is likely that the coin’s growing community will help support and increase its price once it is listed.
50% of the token supply was allocated to its pre-sale, with another 30% going towards community rewards, giving its community a strong incentive to push the meme coin.
New buyers can join the WSM pre-sale by visiting the official Wall Street Memes website, with 1 WSM now available for $0.0319.
Its pre-sale will close at a price of $0.0337, although it could go much higher soon after it is added to exchanges.
Visit Wall Street Memes now
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 your capital.
