As the GambleFi narrative continues to send shockwaves through crypto markets, leading crypto gamling platform Rollbit coin (RLB) appears to be facing a breakdown – and amid the tumble many are asking is Rollbit going to zero?
With markets excited about the growth prospects for crypto projects taking aim at the $63Bn global online gambling space, top online casino projects have exploded across the summer tailing market leader RLB which surged +197% so far this month.
But despite the unhinged growth that could be unlocked by this emerging sector, RLB has been caught in a troubling retracement move that threatens to collapse recent strong technical structure.
Rollbit Price Analysis: Is Rollbit Going to Zero?
Amid the downside price action, RLB is trading low as European markets open on Monday morning, with RLB at a current price of $0.1690 (a 24-hour change of -17.67%).
This brings the sudden retracement move to a current loss of -40% since the recent all-time high at $0.2785.
Worse still, the downside tumble has seen RLB crash through support from the 20DMA at $0.1975 – with this key moving average now threatening to form a layer of local resistance to the topside.
But despite the losses, a strong support level has emerged with historical footing around $0.16, and this appears to be establish well-defended double-bottomed support – a pattern that could signify the end of downside moves for now.
Indeed, the recent downside slide has cooled-down the RSI, with the key indicator now sat at 44 – signalling bullish divergence as RLB shifts to an oversold valuation.
This could indicate the need for consolidation at this level, as markets recover from the thumping downside move.
The MACD could be seen to reflect this sentiment, with only minor bearish divergence at -0.0032.
Yet, despite the signs of consolidation appearing, RLB is now facing a tough risk: reward ratio of 0.79.
This is driven by the 20DMA which is forming a capstone of resistance in convergence with suppression from an immediate higher price level at $0.185, limiting upside potential to +10.48%).
To the downside, there is little to stop RLB tumbling to lower support at $0.145 (-13.65%), which could occur if markets remained spook by the drop.
But while Rollbit holders are reeling from the fleeting rally, smart money has already began to rotate GambleFi profits into a promising presale offering huge upside potential: meet XRP20.
XRP20 Launches +192% APY Staking; Presale Surges to +$2.7M
XRP20, a ground-breaking Ethereum-compliant ERC20 token, is capturing the crypto world’s attention with its philosophy and tokenomics inspired by Ripple (XRP) but innovatively tailored for the retail markets.
With an impressive surge of over $2.7m raised, it’s time to dive into the unique features of XRP20.
XRP20 is not just another ‘2.0 version’ trend, it’s an avant-garde project that offers new utility in the XRP space, including staking designed to reward token holders generously.
It’s also garnering interest in the wider crypto community due to its promise of passive income from staking and capital appreciation potential that could rival the original XRP.
Indeed, the original XRP has long been limited by the lack of a lucrative staking mechanism that rewards long-term holders for their commitment and dedication to the project.
This is where things change with XRP20 – as from today (August 14) XRP20 is now live offering holders the chance to double their stacks and grow their portfolios.
With the staking APY reportedly standing at a jaw-dropping +192% – staking has never been better, and holders are flocking in with more than 10% of initial supply already staked.
XRP20 Brings XRP Into 2023: Why Is XRP20 Presale Trending?
Price Comparison and Potential Gains: XRP20’s current price is $0.000092, 30 times less than XRP’s all-time low, with XRP’s historical price increase of 137,000%, XRP20 could offer astronomical gains of up to 6,629x if it climbs to match the current XRP price.
Strong Case in a Shifting Legal Landscape: XRP’s partial victory over the US Securities and Exchange Commission and predictions of a possible price fall for XRP further underscore the appeal of XRP20.
Deflationary and Decentralized: Unlike XRP, XRP20 introduces a 0.1% burn mechanism on transactions and a plan to remove 10% of the total token supply over time. This scarcity model adds to XRP20’s allure.
XRP20 and the XRP Army: While XRP20 is not affiliated with Ripple Labs or XRP, it’s aimed at the massive and loyal XRP Army and those looking for fresh opportunities in crypto. Its decentralized nature and the benefits of the Ethereum blockchain set it apart from Ripple’s centralized control, and with the addition of staking the case is clear.
Trending Higher Than XRP: Search term ‘XRP20’ is trending on Google, even outperforming ‘XRP’ in the finance category in the United States and leveling with XRP in South Korea.
Join the XRP20 presale and partake in what could be a gigantic price uplift, with more than $1.79m already raised and a hard cap of $3.68m, the presale is likely to accelerate further.
To buy XRP20, head to XRP20, connect your wallet, and complete your purchase with Ethereum or USDT.
Stay connected on Twitter and Telegram for the latest updates.
Buy XRP20 Here
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 of your capital.
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