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The XRP price dropped 3% in the last 24 hours to trade at $2.47 as of 02:49 a.m. EST on trading volume that surged 78% to $5.6 billion.
This comes as Peter Brandt, a veteran who has been in the financial markets since 1975, has publicly apologized and offered an olive branch to XRP holders.
In a Jan. 12 X post, Brandt acknowledged that he had been harsh in his past criticism of XRP and its supporters.
An Olive Branch to $XRP holders
Accept it if you will, reject it if you must, but I offer it with good intent
Over the years I have taken some hard shots at you and your $XRP asset. I admit my rudeness.
You've now had your chance to return the "favor." I get it. Some of your… pic.twitter.com/KIXdbz4gpJ— Peter Brandt (@PeterLBrandt) January 12, 2025
XRP Price Aims For A Bullish Rally Continuation
The XRP price on a daily timeframe showcases a significant upward trend starting in mid-November, characterized by a steep rally.
However, after reaching a local high near $3.00, the price has entered a consolidation phase, according to data from GeckoTerminal.
This consolidation is taking the form of a falling wedge pattern, where the XRP price is compressing between a series of higher lows and lower highs. Oftentimes, this pattern precedes a breakout, and its direction is dependent on the prevailing trend and overall market sentiment.
XRP is currently hovering around $2.47, near the upper boundary of the wedge, suggesting a potential test of resistance.
The 50-day Simple Moving Average (SMA) is trending above the 200-day SMA, forming a golden cross around $0.56, which is typically a bullish indicator. Additionally, the price of XRP remains above both SMAs, reinforcing the bullish outlook for the longer term.
The Relative Strength Index (RSI) is at 57.02, indicating neutral-to-bullish momentum. This level reflects that the Ripple token is not yet in overbought or oversold territory, leaving room for further price movements in either direction.
A break above 60 by the RSI could signal the resurgence of strong bullish momentum, while a dip below 50 may hint at bearish pressure.
Meanwhile, the blue Moving Average Convergence Divergence line (MACD) is slightly above the MACD Signal line (orange), and both are hovering above the zero mark, signaling mild bullish momentum.
Ripple Token Could Still Rally
Given the bullish longer-term trend (golden cross and price’s positioning above SMAs), the breakout is more likely to extend above the wedge.
If the XRP price breaks above $2.60, it could retest the recent high of $3.00, followed by a potential move toward $3.50. On the downside, a break below the $2.26 support level could signal further correction, with the next key support near $2.00.
As the price of the Ripple token aims for a bullish rally, investment is flooding into the new presale meme coin Flockerz (FLOCK). According to 99Bitcoins, a popular crypto YouTube channel with over 721K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Presale Closes On $10 Million—Only 9 Days Left To Buy
Flockerz has surged past $9.7 million in its ongoing presale, and is now racing toward the $10 million milestone as the new meme coin’s ICO enters its final 9 days.
The project sets itself apart from other meme coins by introducing a vote-to-earn (V2E) system. This system puts decision-making power in the hands of token holders and rewards them for participating.
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
Users must buy FLOCK tokens to participate in the voting process. When a new suggestion is presented, members of The Flock vote.
Are we talking to ourselves here?! 🐦
With $FLOCK you can vote AND earn 🔥🚀 pic.twitter.com/1o6AKYL0QT
— Flockerz (@FlockerzToken) January 5, 2025
Apart from V2E rewards, users can earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 280%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at $0.0066883 each using BNB, ETH, or USDT. Alternatively, investors can also make a purchase using a bank card. Buy before the presale ends in about 9 hours to secure the best deal.
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