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The XRP price dropped by a fraction of a percentage in the last 24 hours to trade at $0.5158 as of 11:47 p.m. EST on trading volume that dropped 8% to $1 billion.
This comes as 10X Research head of research Markus Thielen says that the era of 100X returns may well be behind us. Thielen says that the high-risk, high-reward theory of altcoins might be changing as a result of weak narratives driving the crypto market.
Still, according to Santiment, Ripple whales (addresses with holdings ranging from 1 to 10 million XRP) have increased their holdings by 60 million $XRP in May. Such whale activity occasionally indicates bullish sentiment towards altcoins.
XRP Price Set To Soar Over The Consolidation Channel
The XRP price has been on a downtrend, breaching the $0.59 support on April 12, dropping further down to the next support region around $0.47, data from GeckoTerminal shows.
There has been a struggle for dominance between the bulls and the bears within the $0.47 and $0.54 range, with XRP trading within the consolidation channel. The bulls are aiming at a breakout, propelling the price towards a bullish rally on the upside.
The Ripple token is trading just above its 50-day and 200-day Simple Moving Averages (SMAs), signaling a potential buying opportunity for bulls as the price is expected to rise. The 50-day SMA is trending upwards and may soon cross the 200-day SMA, forming a golden cross that could drive further price increases.
The Relative Strength Index (RSI) is climbing from the 50-midline, currently at 56, reinforcing bullish sentiment and indicating buyers’ dominance.
Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish crossover. The blue MACD line crosses above the orange signal line. The green bars on the histogram above the zero line further confirm positive momentum for XRP.
XRP Price Prediction
The XRP price analysis on the 4-hour chart shows a bullish bias. The market bulls aim for a breakout from the consolidation channel to push XRP to the resistance zone around $0.6375.
However, if the bears exert pressure and take control of the price at this level, XRP could break out towards a retrace. This could prompt a downtrend to the next support zone around $0.4711.
As the XRP bulls gear up for a bullish rally, other investors are buying into the $5SCAPE presale, which has already secured over $5.95 million in funding as it races towards its $6.2 million target.
5th Scape: The Next 100X Return On Investment?
5th Scape (5SCAPE) promises to be a game-changer in virtual entertainment, with its innovative initiative merging VR, AR, and blockchain technology to create a cohesive ecosystem.
With 5SCAPE, step into a world where the only limit is your imagination. Here’s what awaits you:
Lifetime Free Access 🎁: Say goodbye to subscriptions! Enjoy a never-ending library of curated VR content that evolves with your tastes.
Exclusive In-Game Advantages 🔒: With… pic.twitter.com/AiPTd6NWer
— 5th Scape (@5th_scape) May 9, 2024
The project aims to revolutionize the VR gaming experience by offering immersive games, VR hardware, and a utility token, $5SCAPE. The team’s dedication to immersive VR gaming experience makes the project an exciting one to watch.
🌟 Unlock new dimensions with 5th Scape! Dive into adrenaline-pumping battles, precision archery, and high-speed racing—all within the limitless virtual realm. Holding 5SCAPE tokens unlocks exclusive benefits like free games, discounts, and seamless in-world transactions.
The… pic.twitter.com/LNO30KXRPW— 5th Scape (@5th_scape) April 20, 2024
Beyond VR games, 5th Scape boasts a complete suite of experiences, including movies and educational content.
Cryptonews, a prominent crypto YouTube channel, believes that $5SCAPE has the potential to surge 100X after launch.
With the listing price fixed at $0.01, buying tokens now at $0.00327 locks in gains of almost 206% before launch.
If you’re interested in participating in the 5th Scape presale, you can buy 5SCAPE tokens with ETH, MATIC, USDT, or BNB on the official website here. You can also buy directly with a bank card.
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