Join Our Telegram channel to stay up to date on breaking news coverage
The XRP price plunged 4% in the last 24 hours to trade at $2.43 as of 02:27 a.m. EST on trading volume that dropped 2% to $13.5 billion.
This comes after the much-anticipated appearance of Ripple CEO, Brad Garlinghouse, on the CBS “60 Minutes” program.
According to the Ripple boss, the cryptocurrency industry was simply asking for “clear rules of the road,” rather than to be deregulated.
While commenting on his interview, Garlinghouse said in a post on X that 60 Minutes “shockingly left out” that a Federal judge had ruled that XRP is not a security.
XRP Price Aiming For A Bullish Trend Reversal
The XRP price has been on a sustained bullish rally since the beginning of November, where the bulls capitalized on the $0.55 support to push the price up through a parabolic rise to the $2.87 resistance zone, according to data from GeckoTerminal.
However, the bears have since taken control of the asset, with the Ripple token falling slightly within the falling channel pattern.
However, the price of XRP still trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the XRP price may still surge towards a bullish reversal pattern over the falling channel.
The Relative Strength Index (RSI) is at 47.99, close to the neutral 50 level, indicating a lack of clear momentum. It has cooled significantly from the overbought zone, leaving room for either recovery or continued decline.
A breakdown below the $2.40 support could lead to a retest of the $2.20 level. Further selling pressure might push the price toward the 200-MA at $1.40, which would be a critical long-term support zone.
However, in a scenario where the XRP bulls start buying the asset, the price may undergo some reversal, which could push XRP back to its previous resistance zone, as the bulls target $3.5, over its previous all-time high at $3.40.
Meanwhile, investors who are looking for diversification opportunities might consider the newly launched Best Wallet (BEST) presale, which YouTuber Crypto ZEUS, with over 81.9K subscriabers, says is the best crypto wallet to hold for the next bull run.
Best Wallet Presale Garners Over $3 Million In Less Than A Month – Next 1000X Crypto?
Best Wallet is a next-generation Web3 cryptocurrency wallet that combines advanced features with an intuitive, user-friendly design. It aims to set new standards in the decentralized wallet space by seamlessly integrating its functionality with its native token, BEST.
The token has already amassed over $3 million in funds raised within less than a month after its presale launched.
Did you know? You can earn $BEST tokens by completing daily airdrop quests! 💸💸💸
The more points you stack, the more $BEST you will receive! Get access to exclusive features and reduced fees when the token launches. 🔥
Remember, daily quests reset everyday at midnight. Don't… pic.twitter.com/APEuMjfNZZ
— Best Wallet (@BestWalletHQ) November 9, 2024
One of the wallets standout value-added features is its Upcoming Tokens tool. This powerful tool identifies high-potential tokens and allows users to invest in them early, often at a steep discount.
The results speak for themselves: investors who followed Best Wallet’s recommendations for CatSlap ($SLAP) saw a 55x return. Pepe Unchained ($PEPU), which had raised just $17 million when Best Wallet featured it, went on to secure over $73 million in funding and is now gearing up for a listing tomorrow, Dec. 10.
Investors can purchase BEST for $0.023025 before the price increases in about one day.
Related News
- 11 Days Left for Crypto All-Stars ICO with $10.6M Raised – Best Crypto to Buy?
- TURBO Pumps 7%, But Investors Flock To This Cat-Themed Meme Coin Rival
- Baby Doge Coin Price Soars 34% And This Might Be The Next Crypto To Explode
Best Wallet - Manage Your Crypto
- Access DeFi and Web3 Dapps Across Multiple Chains
- Comes With Your Own OpenAI Powered Chat Bot Assistant
- Get Early Access to Upcoming Token Launches & ICOs
- Integrated Decentralized Exchange To Buy & Trade Crypto
- Store Crypto And NFTs With Industry Leading Security
Join Our Telegram channel to stay up to date on breaking news coverage
