Ripple Price Prediction: XRP Sees Momentum Loss in Favor of XRP20 Coin

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Ripple XRP’s performance in the crypto market is causing a stir as investors are concerned about the momentum loss. Although, as of 5:53 am EST, XRP is trading at $0.64, up by 4.6% in the last 24 hours.

Despite this good turn, the persistent downtrend of the asset’s movements cannot be overlooked, with potential buyers monitoring its price action.

General Market Outlook of Ripple XRP

Significant declines have been observed in XRP’s price action, showing 7.3% and 8.2% losses over the past 7 and 14 days, respectively.

The trading volume is up by 0.23% in the last 24 hours, but from market analysis, it’s unlikely to guarantee bullish continuity.

The primary concern now is overturning the resistance and recovering its gains. Meanwhile, as investors observe XRP through technical analysis, ongoing developments could incite changes.

Notably, Ripple’s recent alignment with the International Swaps and Derivatives Association (ISDA) and partnerships with Centigrade, among others, are linked to the boost in trading volume.

We’re thrilled to partner with @CentigradeEarth to bring transparency, trust, and integrity to carbon markets. https://t.co/JwgkdjiFgi

— Ripple (@Ripple) August 7, 2023

Technical Indicators Showing XRP Price Potential

XRP/USD is trading higher than its 50-Day and 200-Day Simple Moving Averages (SMAs), implying a possibly strong and steady market position.

This analysis indicates a positive pattern, possibly hinting at the coin’s price continuing to rise. Also, the 50-Day SMA could serve as a potential support level should the market lose its momentum to the bears.

Additionally, the red histogram bar of the Moving Average Convergence Divergence (MACD) is weakening, suggesting a shift in sentiment from bearish to bullish.

However, the Relative Strength Index (RSI) is at 42, near the oversold area, indicating sellers are dominant. If the RSI falls below 30 (oversold region), it could mean a potential change to bearish momentum.

While the analysis above shows positive market sentiment, traders must consider other technical tools before making investment decisions. Meanwhile, a possible alternative like XRP20 is all over the crypto space, advertising its attractive features to willing investors.

XRP20 Could Be the Favorite Alternative for Ripple XRP Investors

The Ethereum-based XRP20 is a project aimed at XRP coin supporters, the XRP Army, and people who missed out on the earlier phase of XRP. The token operates separately from XRP and has no connection to Ripple Labs.

Even though XRP20 is a new crypto in the presale stages, it brings something extra. Based on features and tokenomics structure, XRP20 differs from the original XRP in several ways, offering specific benefits to potential buyers.

First is the staking feature letting you stake your tokens. This means so much to the community, as users can earn rewards for holding tokens. Another is a new aspect where a small portion (0.1%) of each transaction is burned.

When someone buys or sells tokens, 0.1% of the total transaction amount is withdrawn from circulation. This ongoing reduction in the number of tokens available will make XRP20 scarce over time, helping to increase its value.

Additionally, XRP20 takes a proactive approach by regularly burning tokens, gradually removing 10% of the total tokens from the market.

For the initial distribution, 40% of the tokens are set aside for the general public to purchase. Another 10% of the total tokens are reserved to ensure enough liquidity on decentralized exchanges (DEX).

XRP20 Presales Still in Green Zone as It Reaches $1.5 Million

The ongoing XRP20 presales have a set soft cap of $1,850,000 and a hard cap of $3,680,000.

So far, the funds collected have accumulated over $1.5 million, with progressive strides since its launch.

The presale has already passed the halfway mark toward reaching its soft cap, and it’s expected that fundraising will gain even more momentum as investors rush to secure the remaining tokens.

Currently, the price for one XRP20 token in the presale is $0.000092, which according to research, is thirty times lower than the XRP’s launch price. Hence, the low price is a marketing strategy to invite potential investors.

The project’s roadmap focuses on four significant aspects, one of which is the ongoing presales and token distribution. After this stage, the prelaunch marketing and awareness campaigns immediately begin, before burn activation and postlaunch community staking. As XRP20 concludes its presales soon, investors should take note of the project’s goal of scarcity and be ready to embrace a deflationary approach to sustainability.