Ripple (XRP) Price Prediction: Stagnation In Sight And Why Wall Street Memes May Be Your Next Best Bet

Updated: 18 August 2023

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Despite impressive ecosystem developments, including Bitstamp’s August 2 update hinting at a notable partnership for XRP, the token’s price remains stagnant, struggling with bearish pressure.

Tomorrow.#XRP #XRPL #XRPLedger pic.twitter.com/aZrKAjXK5j

— Bitstamp (@Bitstamp) August 2, 2023

Data from CoinMarketCap reveals that XRP’s price has dropped nearly 5% over the past 24 hours.

Ripple XRP Trading Volume Shows Immunity To Bearish Market Trend

As of 5:35 am EST, the XRP price stands at $0.6624, reflecting a decline of 4.6% over the past day. However, the price dip has not substantially impacted XRP’s trading volume, which remains relatively strong at over $1.3 billion.

The stable trading volume reflects considerable interest and activity surrounding the token, with the trading volume rising 7.8% within the same 24-hour period.

XRP Price Projects Bullish Possibility Following Dip

In the past several days, XRP has maintained positions around a support level at $0.66380, underscoring the bulls’ pressure around this point.

At precisely 5:45 am EST, the token’s price is holding around this support level, which implies that a reversal may occur at the position. XRP’s price remains significantly above the 50-day and 200-day MAs, despite creating another red bar today.

However, the MACD indicator suggests a continuous sell move. This observation is particularly true as the MACD line sits well beneath the signal line while creating multiple red bars on the histogram.

Also, the RSI is holding at 48.6, indicating that the bears still control the market, further supporting the chances of continuous sell movements.

Following this analysis, XRP may initiate a bullish move from its position in the next few hours, given the support level at $0.66380. While this prediction may stand, investors and traders should be cautious when forecasting crypto prices, as they remain subject to sudden changes.

Wall Street Memes Positions Itself As Best XRP Alternative

Amid the unpredictable nature of XRP performance and its struggle with bearish pressure, investors might want to explore alternative opportunities in the crypto space. A good example is Wall Street Memes (WSM).

This project has been gaining attention and interest in the crypto community, presenting a fascinating option for those seeking to expand their portfolios.

Notably, Wall Street Memes caught the attention of a crypto whale, who invested 460 ETH on August 1, equivalent to about $850,000, in five different transactions.

This significant investment signals confidence in the project’s potential and has likely added to the momentum surrounding the token.

Wall Street Memes has rapidly become one of the most potent online retail investing communities, boasting a massive follower count of 1 million across various social media channels.

The project challenges the traditional capitalist narrative by providing an inclusive financial landscape accessible to investors of all economic statuses.

Through community engagement, humor, and broad acceptance, WSM is emerging as a symbol for small-time investors, empowering them to participate in crypto.

Wall Street Memes Presale Success

The native token of Wall Street Memes, $WSM, has garnered substantial interest from investors, successfully raising over $20.4 million and approaching its presale hard cap of $21.9 million.

Currently priced at $0.0328, the token is projected to rise to $0.0331 in its next stage, offering early investors an advantageous position once it is listed on exchanges.

Given this potential price increase, early investors could gain massive returns. Moreover, 30% of the token goes for community rewards, which come as airdrops for token holders in the future.

With its unique approach to finance and the growing support from the crypto community, $WSM holds promise for those seeking alternative investment opportunities beyond traditional cryptocurrencies.