The price of XRP has fallen by 6.6% in the last 24 hours, falling to $0.6927 at the time of writing, in a context in which the cryptocurrency market globally is experiencing a slight decline.
XRP is now down 6.23% on last weekhaving lost momentum following the rally it took advantage of following the Ripple-SEC judgment.
Nevertheless, the altcoin remains up 46.6% in the last 14 days and just a little more 90% since the start of the yearlargely based on increasingly positive expectations for its future and that of Ripple.
And with consistently high trading volume, exceeding $1.2 billionXRP could easily see further gains over the next few days or weeks.
XRP Price Prediction: Are Whales Influencing $1.2 Billion Volume?
The chart of XRP suggests that this altcoin could be close to bottoming out on its mini dipwith its relative strength index (in purple) about to fall below 30which would indicate that the part is in an oversold situation.
The 30-day moving average XRP (in yellow) is also down at the momentalthough it is possible that the cryptocurrency will rally before the short-term average does not fall below the 200-day average (in blue)given the persistence of the dynamic.
The most important indicator to watch right now is the support level of XRP (in green)which has been pushed lower in recent days by a series of declines.
If breached again, with XRP price falling sharply below $0.715 or $0.71then the altcoin could suffer some additional losses before recovering again.
Despite this negativity, XRP is likely to resume its rise in the medium term (and long term)with the coin still enjoying considerable momentum due to the mostly positive outcome of Ripple’s lawsuit with the SEC.
Available data seems to suggest that, although some may have sold recently, “whales” usually always buy and/or hold XRP right now, surely expecting bigger gains to come.
In effect, an analysis of Lookonchain revealed that most “whales” kept their XRPeven after the price of the altcoin rose following the Ripple-SEC verdict.
Because of this, the market can expect XRP to resume growth sooner or later, with the possibility that the coin returns to $0.80 in the next weeks before reaching $0.90 or more in the coming months.
And in the long run, Ripple’s growth as a business could help push XRP even higher, potentially $2 or $3 by the first half of next year.
New Altcoins with great short-term potential
While XRP is probably one of the strongest cryptocurrencies on the market in terms of fundamentals, it could take a while to see significant price appreciationespecially when its initial post-SEC rally appears to be over.
Thus, some traders looking faster and bigger gains might prefer to turn to newer altcoins, especially those that haven’t really seen their first growth spurts yet.
One of the most promising examples of this type of cryptocurrency is BTC20, a new ERC-20 token who will provide a version of Bitcoin based on Ethereum who could be staked to generate passive income.
Its presale started last week and has already harvested over $1.5 millionproviding a clear and indisputable sign that investors like what they see.
There BTC20 presale will put available 6.05 million of this altcoin at a fixed price of 1 dollara level that BTC itself reached in 2011.
And in another tribute to Bitcoin, BTC20 will have a supply total maximum of 21 millionthe rest of its supply being issued through staking rewards over a total period of 120 years.
These features will help make of BTC20 a deflationary cryptocurrency and, over time, the altcoin should see its price gradually increase.
This seems to be exactly what investors expect, given that BTC20 presale raised over $1.5 million and should be sold out in the next few weeks.
New investors can join by visiting BTC20 official website and connecting their software wallets with cryptocurrency, which can be purchased in USDT, ETH or fiat currency.
Check out our complete guide on how to buy the $BTC20 token
Visit BTC20 now
This article does not represent investment advice in any way. The information provided here should not be used as the basis for making financial decisions. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.