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The XRP price plummeted over 7% in the last 24 hours to trade at $2.23 as of 3:48 a.m. EST as investors dump their holdings in the crypto on the market.
With the recent drop in the Ripple price, the crypto’s negative weekly performance has been pushed deeper into the red zone to more than 16%.
XRP Price Stuck In A Bearish Channel
4-hour chart for XRP/USD (Source: GeckoTerminal)
The XRP price has printed multiple lower lows and lower highs on the 4-hour chart in the last 24 hours, resulting in the formation of a negative price channel. Should this negative trend continue, the crypto might soon lose the support of the $2.1252 mark. Continued sell pressure could then lead to the XRP price falling to as low as $1.8319.
On the other hand, traders identifying the current price as a buy opportunity could lead to a rebound. In this more bullish scenario, the altcoin might attempt to escape the bearish channel. Overcoming the upper boundary of this channel could then give the XRP price the space needed to rise to as high as $2.4439.
In an extremely bullish scenario, the XRP price could try to flip the resistance levels at $2.4439 and $2.6352 into support before potentially soaring to $2.8775.
Bulls Trying To Take Back Control Of The XRP Price
From a technical perspective, indicators on XRP’s 4-hour chart suggest bears are still in control. However, there are some early signs that a bullish shift in power might soon occur.
In the last few hours, Relative Strength Index (RSI) readings have dropped from the neutral 50 benchmark to the high 30s, which suggests bears are currently stronger than bulls on the crypto’s 4-hour chart. If sellers decide to capitalize on the difference in power, they could push the XRP price down even more in the coming 24 hours.
Buyers seem to be fighting back, which is evident in the Moving Average Convergence Divergence (MACD) indicator on XRP’s 4-hour chart. Although the MACD line is currently positioned below the MACD Signal line to show XRP is in a bearish cycle, the gap between the lines has started to shrink. A bullish trend reversal could therefore be on the cards.
With the XRP price still at the mercy of bears, some traders are turning to Best Wallet (BEST), a new crypto wallet that also flags to investors some of the hottest presales in the market.
The Ultimate Wallet For Crypto Investors
Best Wallet (BEST) is a new crypto wallet project that offers investors and traders all of the tools they need to store, manage, and grow their crypto holdings.
Among the standout features of the wallet solution is its non-custodial nature and multi-chain support. This enables users to securely store their holdings regardless of if the tokens and coins reside on multiple chains.
Users can also unlock additional features and benefits by purchasing the project’s native BEST token. By holding the crypto, investors will gain early access to new projects that enter the crypto space.
Other benefits include reduced transaction fees and higher staking rewards. BEST token investors will be able to participate in community governance as well.
Still, its an Upcoming Tokens part of the wallet that is attracting many investors to the project. This flags to its holders the hottest presales in the market.
It’s already established a good track record. It recently flagged to investors Catslap ($SLAP), which soared over 5,500% in about 19 days after its launch, helping to cement Best Wallet’s reputation as a go-to platform for hidden crypto gems.
Crypto YouTuber and influencer Crypto ZEUS, who has over 81.9K subscribers, said that the BEST token might be the best wallet token to hold for the bull run.
Investors Flock To BEST’s Presale For Its High Staking APY
Best Wallet has already raised over $3.1 million through its ongoing ICO as investors bet big on the project’s future. One of the things that could be pulling investors in is the lucrative staking opportunity being offered to presale buyers. Investors who buy and stake BEST tokens now will unlock access to a huge 898% annual staking yield.
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To get in on these rewards, investors will first need to purchase the BEST token through the simple buy widget embedded on its website.
Selling for $0.02305, the crypto can be bought with both crypto or bank card. Investors can also purchase BEST directly from the Best Wallet app, which is available in both the Android and iOS app stores.
After buying BEST tokens, investors will need to navigate to the staking page on the website to lock up their tokens for the passive rewards. Buy before a price hike in less than 35 hours to lock in the best deal.
Purchase and stake BEST here for the 898% APY.
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