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The XRP price dropped more than 4% in the last 24 hours to trade at $1.42 as of 4:06 a.m. EST as investors decrease their exposure to the remittance token.
The drop in the Ripple price comes after former Ripple Labs executive Sean McBride ignited speculation that CEO Brad Garlinghouse might be appointed for a crypto-focused role in Donald Trump’s White House.
“There is a real and growing possibility Brad Garlinghouse will be chosen as Trump’s new Crypto Czar,” McBride wrote in a Nov. 25 post on X.
XRP Price Trying To Flip The $1.5738 Resistance
4-hour chart for XRP/USD (Source: GeckoTerminal)
The XRP price is approaching the resistance level at $1.5738, according to GeckoTerminal. In the last couple of days, the altcoin attempted to overcome this barrier. However, sellers were able to defend the mark. Should the XRP price manage to flip this obstacle into support, it could have the foundation needed to rise to the subsequent resistance at $1.8719 in the short term.
A second rejection from the $1.5738 level in the coming 12 hours could prompt traders to take profit. With this potential sell pressure, the XRP price might stand the risk of falling below a bullish trend line that has formed on the crypto’s 4-hour chart. Continued sell pressure could then push XRP down to the $1.2758 support. An extreme case could see XRP fall to $1.0159.
XRP Price Remains At Risk
Momentum currently favors sellers, as suggested by the Moving Average Convergence Divergence (MACD). With the MACD line positioned below the MACD Signal line, it seems bears have the upper hand against bulls. The consistent gap between the two lines in the last few hours warns bulls will have a tough task ahead of them if they want to flip things around.
Meanwhile, the Relative Strength Index (RSI) shows a decrease in bulls’ strength as well. RSI readings have dropped from the high 50s to the low 50s. Should this trend continue, the RSI might fall to below the 50 benchmark soon. Traders could then end up reacting negatively to this technical event, which might lead to a wave of panic selling.
As the XRP price tries to overcome a technical resistance, investors are rushing to buy a new PolitiFi token called FreeDum Fighters (DUM) for post-election meme coin gains.
A PolitiFi Token That Is Here To Stay
With the US presidential election over and Trump coming out on top, the hype around many political meme coins has plummeted. In the last 24 hours, the market cap for these cryptos dropped 2% as investors sell their holdings in PolitiFi tokens.
The opposite is true for FreeDum Fighters (DUM), which aims to become a long-term meme coin project in the nascent PolitiFi space. In the build up to the election, the project offered voters and investors a gamified and engaging way to keep up to date with all of the latest developments.
Central to the project’s ecosystem is the clash between the fictional Magatron and Kamacop, representing Trump and Kamala Harris, respectively. More characters are set to enter the ecosystem as FreeDum Fighters aims to become a long-term PolitiFi leader.
One upcoming figure is DOGE, who will be the personification of the Department of Government Efficiency. Dark MAGA, aka Elon Musk, is already present on the project’s website.
Although Trump has emerged victorious, FreeDum Fighters still offers Harris fans a way to earn passive crypto rewards. Each of the project’s characters has an associated staking pool with its own APY. Anyone who buys and stakes DUM in Magatron’s pool will unlock access to a 243.02% staking APY, while Harris backers stand to earn up to 387.19%.
These staking pools could be a great way for investors to grow their DUM bags with minimal effort, which could prove to be a smart move given the bullish predictions made by several crypto experts.
Among them is analyst and YouTuber Jacob Bury, who told his over 44.5K subscribers that the meme coin could surge 10X after its launch.
Investors Rush To Buy DUM At Presale Prices Before It’s Too Late
FreeDum Fighters has already raised over $643K through its presale. This buying frenzy is likely to go into overdrive in the coming week as the project’s ICO nears its end.
There are less than 12 days left for investors to position themselves ahead of the project’s launch and the potential 10X surge predicted by Jacob Bury.
To get in on this ground level of the meme coin, investors can acquire DUM via the buy widget embedded on its website using either ETH, BNB, BASE, SOL, USDT or USDC.
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