He XRP price it is down 5% in the last 24 hours, with the coin dropping to $0.776800 as the cryptocurrency market falls 1%.
One week after Ripple’s positive decision in its SEC case, XRP’s movement today means that it is up just 0.5% in the last week, although it is holding up 67% in the last 14 days and 125% since the beginning of the year.
And while today’s slide means that XRP’s post-decision rally may be over, at least in the short term, the future of the coin remains very positive, with more gains likely in the coming weeks and months.
XRP Price Prediction as XRP Drops 5% in 24 Hours – Is the Rally Over?
The XRP chart suggests that the altcoin can be expected to fall a little further before it can resume its recovery in the medium term, with its indicators showing increasing signs of weakness.
For one, XRP’s Relative Strength Index (purple) has now dropped to 50 and looks set to continue falling, implying that the coin’s price may not stop falling until the RSI hits 30 or below.
Similarly, the altcoin’s 30-day moving average (yellow) has stopped rising steeply and may start falling towards its 200-day moving average (blue) very soon, with the short-term average having a long way to go before bottoming out.
So it will be interesting to see if the XRP support level (green) will resist any dip beyond $0.0770 – if it can’t, it will likely go as low as $0.070 before correcting.
Despite this risk, XRP is likely to bounce back sooner rather than later, with its momentum from last week still strong enough to sustain its overall gains over the medium term.
In fact, last week’s ruling in the Ripple-SEC case remains largely positive for XRP, as Judge Analisa Torres sided with Ripple on numerous accounts and found that XRP sales on exchanges did not violate securities law.
Nothing has changed since this ruling was issued, and the threats of an SEC appeal remain very distant at this point, and unlikely to be successful.
Instead, today’s 5% drop should read more like the XRP market cooling off a bit in the near term, with the coin correcting slightly so that the influx of new buyers could push it further in the coming months.
If so, the market can expect XRP to pull back as low as $0.80 in the coming weeks, before potentially reaching $0.90 or $1 in the coming months.
High Potential Meme Tokens
Since traders may have to be patient if they want XRP to break through the $0.90 or $1 barrier, some may prefer to look towards newer altcoins in the meantime, particularly those that are positioned to grow a lot in the near future.
This is particularly the case with pre-sale tokens, which can often have big rallies when first added to exchanges.
One of the most popular presale coins right now is Evil Pepe (EVILPEPE), an ERC-20 meme token that launched its sale just a few days ago.
Amazingly, it has already raised over $180,000, with the presale having just under 12 days to run and a goal of $1,996,002.
The meme token will have a total maximum offer of 6.66 billion EVILPEPE, of which 90% has been allocated to pre-sale.
This makes Evil Pepe a highly decentralized token, and at a time when meme coins have become particularly attractive to merchants, it could really prove successful in attracting a large community of holders.
Your pre-sale will have only one stage, with 1 EVILPEPE token costing $0.000333 and can be purchased with USDT, ETH, or fiat currency.
Anyone interested in joining the sale can do so by going to the official Evil Pepe website and connecting their crypto wallets, such as MetaMask or Wallet Connect.
And from there, all they will have to do is sit still and wait for EVILPEPE to be listed on the exchanges, at which point it could become the next big meme token on the market.
Visit Evil Pepe 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.
