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The Ethereum price slumped 2% in the last 24 hours to trade at $2,552 as of 03:18 a.m. EST on trading volume that surged 32% to $18.7 billion.
This comes as crypto influencer Ben Armstrong, popularly known as Bitboy Crypto, says that XRP could flip Ethereum in market capitalization by 2025. BitBoy cited XRP’s remarkable performance in 2018, when it rose to be the 2nd ranked crypto by market cap, pushing ETH to third.
In 2018, $XRP already flipped Ethereum once. And in 2025, it's going to happen again. Get ready for the next bull run. $XRP Army knows what's coming.
— The BitBoy (@BenArmstrongsX) October 21, 2024
Ethereum Price Aims For A Bullish Trend Reversal
The Ethereum price has been on a bearish trend in October, as the bears took control of the price on the $2,685 resistance zone, pushing ETH to the $2,351 support zone, forming a rounding bottom pattern, according to data from GeckoTerminal.
ETH recently took another correction from the resistance zone, which resulted in the price of Ethereum trading below both the 50-day and 200-day Simple Moving Averages (SMAs)
The Relative Strength Index (RSI) is currently around 37.40, slightly above the oversold region (below 30). While this is not overbought, it suggests that the asset is relatively weak but has room for an upward move if buying interest increases.
The technical indicators on this chart show a bullish outlook, supported by the golden cross at $2,508, and the potential rounding bottom pattern suggests upward momentum. The low RSI provides room for growth before any overbought conditions set in.
The Ethereum price could surge if the trend picks up, as the bulls target $3,000.
Meanwhile, Ethereum could plunge back to the $2,400 support if the bears take charge of the price, forming a formidable cushion against downward pressure.
As Ethereum price bulls aim to push ETH through a bullish rally, investors looking for new opportunities might consider a new meme coin ICO called Flockerz (FLOCK).
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 $1 Million In Blockbuster Presale
Flockerz introduces an innovative decentralized community structure, allowing holders to actively guide the project’s direction through a unique vote-to-earn (V2E) mechanism.
This feature empowers the community and rewards members for their involvement, creating a more engaged and dynamic ecosystem.
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
When a new suggestion is presented, members of The Flock vote, and are rewarded for it.
To participate in the voting process, users must buy $FLOCK tokens. The greater the number of tokens you own, the more influence you have in voting.
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 1,657%.
Investors interested in participating in the presale can visit the official Flockerz website to buy FLOCK tokens for $0.0058394 per token using BNB, ETH, USDT, or a bank card.
Buy before a price hike in less than 22 hours to secure the best deal.
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