Search Inside Bitcoins

Launchpad Coin Price Prediction: Will It Surpass XRP’s Growth with Potential 10x Upside?

Launchpad Coin Price Prediction: Will It Surpass XRP's Growth with Potential 10x Upside?
Launchpad Coin Price Prediction: Will It Surpass XRP's Growth with Potential 10x Upside?

Join Our Telegram channel to stay up to date on breaking news coverage

Launchpad XYZ’s presale has just blasted through $915,000 as the fear of missing out (FOMO) spreads among investors, especially now that the United States Securities and Exchange Commission (SEC) is going after crypto exchanges like Binance and Coinbase while labeling tokens as securities.

Meanwhile, XRP the token in the middle of a heated lawsuit, pitting Ripple the issuer, and the SEC against each other, is trading 3.5% higher on the day at $0.52. More than $1.85 billion in trading volume has come in over 24 hours according to price data by CoinGecko.

XRP Price Upholds Cup and Handle Pattern Ahead of 47% Breakout

XRP is among a few bullish cryptos in the top 100, including Bitcoin (BTC) and Ethereum (ETH). The token powering one of the most significant blockchain-based cross-border payments networks is up 4% in the last seven days, 16% in 14 days, and an impressive 35% in 30 days.

Launchpad Coin Price Prediction: Will It Surpass XRP's Growth with Potential 10x Upside?
XRP/USD 30-day chart | Source Coingape

With the formation of a cup and handle pattern on the daily chart, XRP price is looking forward to a potential 47% breakout target to $0.81.

In addition to this, the international money remittance token is trading above all the applied major moving averages including the 200-day Exponential Moving Average (EMA), the 100-day EMA, and the 50-day EMA.

The cup and handle pattern is used by traders to identify buying opportunities in a bullish market.

It consists of two parts: a cup and a handle, as illustrated in the chart below. The cup is a U-shaped formation that represents a period of consolidation after a strong uptrend, Investopedia explains.

On the other hand, the handle is a smaller downward correction that forms on the right side of the cup, indicating some profit-taking before the next breakout.

Launchpad Coin Price Prediction: Will It Surpass XRP's Growth with Potential 10x Upside?
XRP/USd daily chart | Source Tradingview

Since the cup and handle represents a continuation pattern, indicating the extension of the previous trend, traders who wish to confirm their bullish bias in XRP price and enter long positions can explicitly capitalize on the upcoming breakout by waiting for the price to break above the resistance level at the top of the cup, which is around $0.55.

Squeezing Profit from XRP Price with The Cap and Handle Pattern

Note that the cup and handle pattern allows estimating the potential breakout target by measuring the height of the cup and adding it to the pivot point—the neckline resistance at $0.55.

In this scenario, traders or investors can place the stop-loss level below the lowest point of the handle or even beneath the bottom of the cup, depending on their risk tolerance.

Validating the bullish stance is a buy signal from the Moving Average Convergence Divergence (MACD) indicator. Similarly, buyers would continue having the upper hand as long as the MACD keeps moving higher within the positive region – above the mean line at 0.00.

However, caution is advised among investors and traders as the Relative Strength Index (RSI) has recently been rejected from the overbought region. The continued movement toward the oversold region would mean increasing selling pressure.

For now, XRP price depends on support at $0.5 but if push comes to shove the token might drop to the 50-day EMA (in red) at $0.4786 or the 200-day EMA (in purple) around $0.44.

Launchpad XYZ – The Web3 Alternative to XRP

Even though Launchpad’s presale is still ongoing, and it has already collected more than $915,000. This impressive performance in a matter of weeks shows the growing market’s interest and confidence in the up-and-coming platform and its potential for investors.

The ecosystem is grounded by its – mission of facilitating the shift from Web2 to Web3. It also enables users to create and manage their software on its platform, with a focus on open-source software.

Analysts, attempting to forecast the price trend of the LPX token for the next few years, have estimated that the Web3 market, valued at around $3.2 billion in 2021, may reach a worth of $82 billion by 2032. This estimation could elevate key projects such as Launchpad’s LPX.

However, statistics show that about 54% of Americans are unfamiliar with the term “Web3.” And only 13% of those who have heard of it think they understand what it means.

These data points suggest two things – one is that Web3 has a huge market potential. The other is that many people are still unaware of Web3’s existence.

That said, this is where Launchpad XYZ comes in and offers great opportunities for its investors, not to mention paving the way for applications with high demand in the future.

Some analysts at believe that LPX would be the next Pepe to turn ordinary people into instant crypto millionaires.

Remember, the crypto and digital spaces are banking on the resurgence of NFTs. This means that Launchpad is likely to be among platforms that capitalize on the future of NFTs and their role in global economies like real estate, freelance, and entertainment.

Investors who choose to buy Launchpad LPX tokens at $0.0445 in the ongoing presale would be looking at a 21% paper gain, with the listing price set at $0.0565. However, they must hurry before the price hikes to $0.046 in a few days.

Related Articles:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next