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The XRP price has experienced a 5.2% drop in the last 24 hours, trading at $0.62 as of 10:54 a.m. EST.
Ripple’s XRP witnessed an 8.5% decrease this week, in stark contrast to Bitcoin and Ethereum, which recorded gains of 0.3% and 4.5%, respectively.
There’s been turbulence around its price since false news that Blackrock planned a spot XRP ETF.
Following the news, XRP experienced a momentary 12% increase in value, reaching $0.75.
The surge was short-lived, and the gains were completely reversed within 30 minutes. The reversal occurred after Bloomberg ETF analyst Eric Balchunas confirmed that the filing was a hoax.
This is false! Confirmed by BlackRock by me. Some whacko must have added using BlackRock executive name etc. Cmon man. pic.twitter.com/cDpnycYwjQ
— Eric Balchunas (@EricBalchunas) November 13, 2023
The price rapidly dropped to $0.65, and subsequently, increased bearish pressure led to a further decline to $0.62.
XRP Price: Bulls Poised to Reclaim $1 High
The $0.75 resistance level poses a challenge for the bulls to overcome. However, with a strong support zone at $0.54 in alignment with the 200-day SMA, the bulls have managed to stabilize the prevailing bullish momentum.
The crossover of the 50-day SMA over the 200-day SMA on the daily chart, turning these averages into immediate support levels, confirms the bullish sentiment of XRP.
XRP Price Could Reach $1 in 2023
Following verification of the falsehood of the Blackrock news, the Relative Strength Index (RSI) exhibited a decline, moving from 89 to its current level of 55, above the neutral threshold of 5.
The upward trend maintained by the bulls suggests a potential RSI rebound above the overbought zone of 70.
XRP may attain a high of $0.93, and there is a possibility of extending gains beyond $1.05, a 55% surge from the current price.
Conversely, if bears capitalize on the strong resistance at $0.75, initiating a corrective move, they could continue the bearish sentiment, pushing the price down towards the support zone at $0.54.
XRP investors may though prefer to diversify into the Meme Kombat (MK) project, which is rapidly gaining popularity during its presale phase, presenting an enticing investment opportunity for those seeking potentially high returns.
Meme Kombat (MK) Presale Nears $2 Million Mark
The Meme Kombat presale has already raised $1,697,923 of its $2 million target. This influx of funds demonstrates strong investor confidence and momentum in the project’s potential.
You have the opportunity to purchase MK tokens at the current price of $0.189. With only one day left in the ongoing presale stage, there’s a brief timeframe to participate before the price increases to $0.205 in the next phase of the presale.
As the project progresses through its various phases, the price of the tokens will continue to rise, eventually reaching a final listing price of $0.274.
We are all ready for the pump, but the question is:
Are you ready for Kombat? ⚔️ $MK pic.twitter.com/qLSImYnJ7C
— Meme Kombat (@Meme_Kombat) November 14, 2023
Get MK Now: Participate in 10,000 USDT Giveaway, Win Prizes
This current stage offers a lucrative opportunity for significant returns, potentially up to 20x your initial investment, given the attractively low entry price.
You can now earn passive income by staking MK tokens during the presale, earning an impressive Annual Percentage Yield (APY) of 112%. The advantages of holding MK tokens extend to automatic staking options, diverse betting choices, and a robust tokenomics model for long-term sustainability.
You also have the opportunity to participate in a 10,000 USDT giveaway contest, where 10 winners will be chosen to receive $1000 USDT each. The contest is open from November 14 until the presale reaches $2 million. To enter, you need to purchase $100 worth of MK tokens.
One Kontest ends, another takes its place!
This time we're giving away a whopping 10,000 USDT🤩
From Nov 14th, 19:00 CET until we reach $2 million in the presale, any purchase of $MK worth $100 or more will qualify for the draw💰
10 winners will each receive 1000 USDT🎉 pic.twitter.com/o0s1HnHpSV
— Meme Kombat (@Meme_Kombat) November 14, 2023
The presale offers added benefits, such as taking part in meme battles, wagering on preferred memes, staking a portion of the prize pool, teaming up with other participants, displaying expertise in memes, and earning substantial rewards.
The CryptoNews YouTube channel, boasting over 5000 subscribers, provides a detailed guide on purchasing Meme Kombat tokens and leveraging its staking features. They also explain why it’s set up for at least 10X returns.
To participate in the Meme Kombat presale, visit the official website, connect your Web3 wallet, and acquire MK tokens using BNB, ETH, or USDT.
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