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The XRP price pumped 5% in the last 24 hours to trade at $1.50 as of 04:44 a.m. EST on trading volume that plunged 13% to $12.3 billion, according to CoinGecko.
XRP Price On A Sustained Bullish Rally
This XRP/USD chart shows a significant bullish trend for the XRP price, with a clear breakout from a consolidation phase followed by a strong uptrend.
Meanwhile, the price of XRP is trading well above both the 50-day (blue line) and 200-day (light blue line) moving averages. This indicates strong upward momentum.
After a parabolic rise, the price of XRP then went through some cooling off, which caused XRP to plunge from the $1.56 resistance to the $1.28 support zone. However, the bulls have used this support to propel the token up, forming a rounding bottom pattern.
The rounding bottom pattern is a bullish reversal pattern, which could see the price of XRP soar even higher.
The Relative Strength Index (RSI) has recovered from overbought territory (>70) during the parabolic move and is now hovering near the upper neutral range, currently at 63. This suggests that there is still room for upside without becoming overbought again.
If the bulls sustain the bullish trend reversal, the price of XRP could soar, breaching the psychological resistance at $1.60. This could lead to another rally, with the next possible target being around the $2.0 level.
XRP/USDT Chart Analysis (Source: Tradingview)
However, if the bears take charge, the Ripple token price could plunge, the 50-day SMA acts as a dynamic support at $1.25.
As the XRP price aims for a continued surge, some investors are turning to presale meme coins like the newly launched Flockerz (FLOCK) for more explosive upside potential.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Raises Over $3.2 Million In Blockbuster Presale
Flockerz is a community-controlled meme coin powered by its unique Vote-to-Earn (V2E) incentive mechanism. Holders of $FLOCK can earn additional tokens by simply voting on decisions that shape the project’s future.
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
In this way, $FLOCK holders have a say in critical decisions such as protocol changes, budget allocations, adjustments to tokenomics, grant approvals, investment strategies, and more.
To participate in the voting process, users are required to purchase $FLOCK tokens. The more tokens you hold, the greater your voting influence. When a new proposal is introduced, members of The Flock cast their votes to decide its outcome.
The flock is flying high! We’ve officially crossed $300K! pic.twitter.com/MsLc5PeoyX
— Flockerz (@FlockerzToken) September 28, 2024
Apart from V2E rewards, users can earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 689%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.0061259 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card.
Buy before a price hike in about one day to secure the best deal.
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