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Despite the recent price stagnation, the price of ripple has not shown much interest in moving either way. An analysis of nearby support and resistance levels and an evaluation of probable scenarios would, however, be beneficial.
Analysis of the XRP/USDT Price
A price consolidation has occurred below the 200-day moving average and around $0.5 against USDT. Over the last few days, it has failed to close above the said moving average.
RSI values have been below 50% for a while, indicating that the momentum favors sellers. In other words, it’s more likely that the bearish trend will continue toward the $0.43 level or even lower.
Analysis of the XRP/BTC Price
The stock price has gradually declined after breaking below the 2200 SAT level and the 50-day moving average during the last couple of weeks.
RSI is also trending below 50%, and the market is likely to test the 200-day moving average in the 1900 SAT support area and 1800 SAT static support level. While the trend is considered bullish overall as long as the price trades above the 200-day moving average, investors can be optimistic at this point.
BTC Alternative
Currently, BTCBSC, the native cryptocurrency for the Bitcoin BSC ecosystem, is selling for $0.99, the same price Bitcoin retailed for in 2011. There has been an increase of almost $740,000 in sales in the presale.
In addition to not being a fork of Bitcoin, BTCBSC does not fall under the pump-and-dump umbrella because it shares its name with Bitcoin. In contrast, the BEP-20 token only generates daily income from price gains on BTCBSC. As well as providing passive returns, it offers ultra-high annual percentage yields (APY).
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APY of 640% has been achieved on the staked BTCBSC tokens, totaling $410,629 tokens. 69 percent of the total supply will be reserved for staking, with reward distribution occurring block by block. Here’s your chance to join the community of stakers for high APY.
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