The XRP price has gained by 0.5% in the past 24 hours, with its move to $0.552306 also representing a 12% increase in the past week, as the market rides a wave of Bitcoin ETF-related positivity.
XRP is now up by 13% in a fortnight and by 62% since the beginning of the year, which has been defined for the altcoin by Ripple’s successes in its case against the SEC.
And with the wider market increasingly picking up momentum in the expectation that recent Bitcoin ETF applications will be approved, XRP is likely to rally further in the coming weeks, especially with its trading volume rising above $3 billion in the past day.
XRP Price Prediction as Daily Trading Volume Exceeds $3 Billion For the First Time in 3 Months – Can XRP Reach $3 Soon?
XRP’s chart and indicators suggest that the altcoin is at the beginning of an upcycle, one which has been due for several months now.
In particular, its relative strength index (purple) rose to 70 yesterday and remains at around 65, a sign of a good buying momentum.
It’s also notable that XRP’s 30-day exponential moving average (yellow) is now rising nicely towards its 200-day average (blue), with a golden cross set to signal a breakout rally that could arrive in the next one or two weeks.
Indeed, the jump in XRP’s 24-hour trading volume from around $300 million just over a week ago to nearly $3 billion today would suggest that its market has revived, with traders becoming increasingly interested in the coin.
This volume is at its highest level since July, when Ripple received largely positive ruling in its long-running case with the SEC.
And while the following couple of months saw XRP and the wider market struggle, the past couple of weeks have built upon this good news, with the SEC failing its attempt to lodge an interlocutory appeal.
Even better, the securities regulator dropped its case against against Ripple execs Brad Garlinghouse and Chris Larsen, which had been set to go to a full trial next April.
This means that all that’s left to do in this case is for both parites to agree on a settlement and related penalties, meaning that the case is effectively over.
This leaves XRP in a prime position for riding the next cryptocurrency bull market, with the altcoin potentially on course to return to $1 in the first few weeks of next year.
And if 2024 does bring a full bull market, it could potentially pass its current record high of $3.40, set way back in January 2018.
High-Potential Presale Tokens
As strong as XRP is right now, most traders are recommended to diversify their portfolios into newer tokens, so as to expose themselves to the greatest potential upside.
One of the best and most inexpensive ways of doing this is to invest in presale tokens, with the best of these often rallying big once they list on exchanges.
One presale coin likely to do this is Bitcoin Minetrix (BTCMTX), a tokenized cloud mining platform that has raised in excess of $2.2 million in barely a month.
Set for launch in the next few months, Bitcoin Minetrix offers something unique within the crypto sector: the ability to mine Bitcoin (BTC) by staking its native token, BTCMTX.
Its innovative stake-to-mine model largely accounts for why its presale is already doing spectacularly well.
Users who stake BTCMTX will receive tokenized mining credits in return, which they can then spend to purchase hashpower on the Bitcoin blockchain.
Spending enough tokenized mining credits will earn users actual BTC in return, something which will widen and democratize access to Bitcoin mining.
Its presale will have ten stages in total, with investors able to join by visiting the official Bitcoin Minetrix website.
The sale is currently in its third stage, with 1 BTCMTX priced at $0.01120, although this will rise to $0.01130 in just under three days, when the fourth stage begins.
BTCMTX will have a total supply of four billion, with the presale receiving 1.4 billion of this total.
This makes the token highly decentralized, with holders also able to earn more of the coin by staking it.
Visit Bitcoin Minetrix 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 of your capital.
Read the full article here
