Could an Impending Surge in XRP20 Rattle tomiNet (TOMI) Holders?

Updated: 01 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Tominet ($TOMI) has been experiencing a downtrend over the past weeks, with bulls struggling to push the price up.

Trading at $3.06, the token has seen a 1.6% drop in the last 24 hours and a significant 16.8% decrease in the past week. Despite this decline, the trading volume has only slightly dropped by 1.5% in the past 24 hours.

Tominet (TOMI) Exhibits Signs of Recovery

The price chart indicates that TOMI is trading in a descending channel, showing signs of a short-term recovery at the channel’s lower trendline.

This recovery coincides with the crucial support level at $3.02 (blue line). If bulls manage to trigger an upward movement, TOMI could surge toward the resistance level at $3.70, which is located above the descending channel.

Despite the decline in TOMI’s price, the technical indicators show signs of a surge. Currently, the price is trading below the 50 and 200 simple moving averages, making it essential for TOMI buyers to successfully break above them to reach the target resistance level at $3.70.

The relative strength index (RSI) is at 31, pointing towards the oversold region at 30.

If the price touches this region, it may lead to a possible rebound, which could help the bulls drive the price upward.

On the other hand, the Awesome Oscillator (AO) indicates a downtrend, displaying red bearish bars.

Based on the above analysis, it appears that TOMI’s price is indicating a short-term recovery.

The support level facilitates a rebound, and the RSI’s oversold region contributes to this positive momentum. As a result, we predict the price to reach $3.70.

Conversely, if the upper trendline is touched, the bulls may retreat toward the channel’s lower trendline, which is slightly below the current support level of $3.07.

Amidst the ongoing downtrend in TOMI price, investors have a unique opportunity to reap substantial rewards from their investments in XRP20, which has achieved a remarkable milestone during its presale.

Could an Impending Surge in XRP20 Rattle tomiNet (TOMI) Holders?

XRP20 Token Presale Funding Reaches Remarkable Milestone

XRP20 is a new coin set to introduce stake-to-earn capabilities to the XRP ecosystem, adding an exciting dimension to its features.

The project aims to achieve a minimum soft cap of $1.85 million in its presale, which is expected to sell out quickly. The hard cap target for fundraising is $3.3 million.

https://twitter.com/XRP20_coin/status/1686339872955457536?s=20

If you missed the opportunity to buy XRP, you now have the chance to purchase the new XRP20 version at a much lower cost of just $0.000092 in the XRP20 presale.

XRP20: Unique Token Distribution and Strong Community Support

Besides offering staking opportunities, XRP20 operates as a deflationary coin. Each buy-and-sell transaction incurs a 0.1% burn, gradually reducing the token supply over time.

To increase scarcity value, a significant 10% of the total token supply gets removed by sending an equivalent amount of coins to a designated burn address.

Presale buyers are allocated forty percent of the total token supply, while 40% is reserved for staking, and another ten percent is earmarked for decentralized exchange (DEX) liquidity.

Crucially, unlike XRP, XRP20 does not reserve any tokens for founders or team members, making it a level playing field for all participants. Having cultivated one of the most active communities in the crypto space, the XRP20 coin is poised to attract substantial interest.

To buy XRP20, visit the website, connect your crypto wallet, and pay using Ethereum or USDT. It is essential to act promptly to acquire XRP20 before it is listed.

It is important to note that XRP20 is an independent entity without affiliation with XRP or Ripple Labs. Moreover, XRP20 is not classified as a security, as the website states.