REI Network Price Prediction: Is it Time to Brace for a Crash and Shift to XRP20?

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REI Network is trading in the red today as the bears exert pressure on its price. Its price gain in the past week is 11.3%, while it is up 19.2% in the past month.

The coin trades at $0.0275 at 5:32 am EST, with a 12% decline in its price within 24 hours.

REI Network Among Top Losers On CoinGecko

REI network is among the top losers on CoinGecko today, a drastic drop from its rankings yesterday. The drop is likely a reflection of the retracement of the global crypto market in the last 24 hours.

⚡️TOP GAINERS OF THE DAY!
3 August 2023$REI $TLOS $OX $UOS $DFA $WLKN $GSWIFT $LBR $XDC $METIS pic.twitter.com/wqRDV0jVzp

— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) August 3, 2023

On August 3, REI ranked among the top gainers with a 31% price gain in 24 hours. The price spike was likely due to REI’s listing on Binance.

Also, its partnership with SC Space for an NFT airdrop contributed to the surge. So, the slump today might be temporary. However, a closer look at the REI on the daily chart will yield more insight into its price action.

Will REI Network’s New Partnership Drive Price Recovery?

REI Network announced a partnership with Pira Finance on August 3. These two DeFi providers are aligned to bring financial freedom to individuals worldwide by integrating their strengths to create a limitless financial framework.

1/ Standing out as a #1 Native community-owned DEX built on Base. Pira Finance focuses on inclusivity and empowerment aligns perfectly with REI Network's vision of providing low-cost development, rapid application migration, and an ecosystem that knows no boundaries.

— REI Network｜From #GXChain! (@GXChainGlobal) August 3, 2023

REI Price Analysis

The daily chart reveals a sharp decline in REI’s price from its previous gains. The price slump is similar to its past action between July 30 – August 1, when it formed three consecutive red candles on the daily chart.

REI faces resistance at the $0.030 level but finds critical support at the $0.0274 price level. However, the bears can force a retreat to the $0.0243 support level if the sellers increase their pressure.

REI Network Price Chart

REI price is falling today as the bears continue to force a decline. Today’s price movement shows a drop in buying pressure confirmed by the Relative Strength Index (RSI) indicator descending from the overbought zone with a value of 63.54.

But the asset still trades above its 50-day and 200-day Simple Moving Average (SMA). Also, the Moving Average Convergence/Divergence (MACD) is above its signal line, confirming the presence of the bulls in the market.

However, the fading Histogram bars support the falling RSI, implying that the bears are in control. REI will likely return to the $0.0243 support level if sellers dominate the market. However, a long-term recovery is a possibility.

REI Network Alternative

XRP20 is a crypto project built on Ethereum’s blockchain seeking to give investors a chance to make a profit by purchasing high-value tokens at low rates. Most investors missed the chance to join Bitcoin, Ethereum, and XRP early but have a second chance with XRP20.

https://twitter.com/XRP20_coin/status/1687380690331963392

It relies on the power of a growing crypto community similar to the original XRP Army in its relentless pursuit of success. The project features a stake-to-earn mechanism for its users as a source of passive income. This prevents excess circulation of tokens and boosts their overall value.

XRP20 has a total supply of 100 billion tokens, with 40% for the presale, 40% for staking, 10% for DEX liquidity, and 10% for burning.

The burning mechanism is one of the high points in the ecosystem. Besides the 10% dedicated to the token burns, 0.1% of every buy and sell transaction on the network is sent to the burn address.

XRP20 enjoys growing interest from the crypto community, with over 500 followers on Twitter and a thriving Telegram channel.

XRP20 Presale

XRP20 presale is ongoing and fast approaching its 1.85 million targets. 1 XRP20 token is worth $0.000092, giving investors the best opportunity to accumulate these tokens.

https://twitter.com/XRP20_coin/status/1687022804992917504

Users can visit the site to purchase XRP20 by connecting their secure crypto wallet and completing the process with ETH or USDT.

Also, Trust Wallet or Meta Mask are some of the best options for this purchase.