Ripple Price Prediction: XRP Registers 3% Decrease – Are Investors Bullish on its Future?

Updated: 25 August 2023

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The Ripple price has registered a 3.4% decrease in the last 24 hours, following the same trendline as Bitcoin, which has decreased by 1.57%. Has the recent drop dampened the interest in XRP, or is the community still waiting for a bull run?

Ripple Drops 3.45%

In the last 24 hours, Ripple has registered multiple red candles on the price charts, experiencing a drop of 3.45%, indicating that it is heading towards the pre-pump value it had before its partial victory over the US Securities and Exchange Commission.

At 5:15 a.m. EST, XRP was trading around the $0.5 mark, with its market capitalization experiencing a 3.19% decrease and its 24-hour volume showing a pump of 0.32%.

Despite Downtrend, Ripple’s CTO’s Tweet Excites Many XRP Supporters

While Ripple has been going through a downtrend for quite some time ever since the SEC made its intentions clear that it would be against Judge Torres’ ruling that said XRP is not a security when sold to retail investors, some positive news has come from the social media front.

David Schwartz, the CTO of Ripple Labs and Co-Creator of the XRP ledger, made a crypto tweet on n X (formerly known as Twitter) yesterday that read, “277,777,788,888,899 is the smallest number that goes to 11.”

277,777,788,888,899 is the smallest number that goes to 11.

— David "JoelKatz" Schwartz (@JoelKatz) August 23, 2023

While no one understood the tweet’s meaning, it set the XRP crowd speculating around what that means. Many said that it could mean that XRP has the potential to reach $11, which would be 4x times its all-time high.

2x7x7x7x7x7x7x8x8x8x8x8x8x9x9=
4,996,238,671,872 –>

4x9x9x6x2x3x8x6x7x1x8x7x2=

438,939,648–>

4x3x8x9x3x9x6x4x8=

4,478,976–>4x4x7x8x9x7x6 = 338,688

3x3x8x6x8x8 = 27,648 –> 2x7x6x4x8 =

2,688 –> 2x6x8x8 = 768 –> 7x6x8 = 336 –> 3x3x6 = 54 –> 5×4 –> 20 =2

2/11, 11,2

— Dark Defender (@DefendDark) August 24, 2023

Some, however, are still puzzled about what it could mean. However, it became clear that it was some attempt to mobilize Ripple’s price.

XRP Expert Analysis

One of the critical crypto experts on Twitter, Dark Defender, has come out with a daily chart analysis of the XRP token. He stated that the current XRP wave trend signal is green, which could mean it has potential resistance at $0.604 and $0.66.

He also speculated that XRP might find support between $0.52862 and $0.39169

Daily #XRP Wave Trend Signals Green.#Targets:

R: $0.60442, $0.66492 short term#Supports:

S: $0.52862, $0.39169

Above $0.93, we will hit $1.33 first then $1.88. pic.twitter.com/DpH38yojOJ

— Dark Defender (@DefendDark) August 23, 2023

Based on this speculation, XRP is still trading above its support level, which could mean it has a chance to move up.

Dark Defender also looks to the long-term potential of this token to reach the $1 mark. An upswing to that level would not be out of the norm since XRP did go up to $0.93 shortly after Ripple’s partial victory over the SEC.

XRP Price Analysis

A new green candle has formed, more significant than the previous red, which may indicate that a rebound is in the way.

However, to go up significantly, XRP has to move above its 20-day moving average – $0.51.

From a technical perspective, XRP’s current RSI is 35, and MACD is negative, indicating a negative sentiment around this token. Since the reaction on social media differs from what the price charts show, it would be better to wait a few days to make a more precise long-term forecast for XRP.

XRP Alternative – SONIK

Even though the recent candle shows signs of rebound, that can change with another long red, in light of this, a better investment option would be a crypto asset that is now available as a presale and presents an opportunity for investors to become early movers.

Bringing investors that chance is Sonik Coin. Inspired by Sonic the Hedgehog, Sonik Coin is a memecoin project that aims to become the fastest token to reach a 100 million market capitalization. However, its memecoin nature and its popularity on social media are not the only factors that could make it possible.

Sonik Coin embraces the “speed” factor that made Sonic the Hedgehog famous by embedding it in its tokenomics and utility. In terms of utility, Sonik Coin features “Stake-to-Speed.” This feature will allow investors who stake Sonik Coin a high APY. According to the Sonik Staking Page, the estimated yield is 145%, and the reward is 9145 SONIK tokens per simulated block.

The second part of Sonik Coin’s ecosystem influenced by speed is its total supply, which is 299,792,458,000, equivalent to the speed of light.

Out of this total supply, 50% has been dedicated to the presale, 40% is for staking, and the remaining 10% is for liquidity rewards.

The Sonik Coin presale is ending within the next 11 days and has already raised more than $400k. Interested parties can visit sonikcoin.com to participate in this project presale that, according to some experts, can potentially go 10x.

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