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XRP price has increased 0.6% in the last 24 hours to trade at $0.6211 as of 5:30 a.m. EST, while trading volume climbed 7.5% to $1.44 billion.
And Ripple President Monica Long is upbeat about future prospects, predicting a ”breakout moment” for the crypto industry in 2024, especially DeFi.
1/ In 2024, crypto will break the speculative hype cycles that have defined the booms and busts for the industry since Bitcoin’s invention – before the next ‘crypto summer.’ We as an industry will break the cycle by paving the foundation for real-world utility at scale, which…
— Ripple (@Ripple) December 19, 2023
Ripple’s president insists that this is the time when the industry needs to focus on building compliance tools for decentralized environments, which she called “the next frontier of innovation in blockchain.”
3/ Compliance & Transparency: In 2024, it’s not enough to be compliance-conscious – the industry must be compliance-first to keep our customers and users safe, gaining back the trust we’ve lost following some major industry blowback. The industry needs to build compliance tooling…
— Ripple (@Ripple) December 19, 2023
XRP Price: Ripple Price Prognosis
While Ripple’s price is currently at $0.62, the project had a massive price surge less than two weeks ago, which took it up to nearly $0.70. Some believe that XRP is preparing for another attempt to reach this level and potentially go further up.
Some experts believe Ripple can reach $1, so they encourage HODLing. This prediction comes from the fact that the coin saw a reasonably long increase, after which the price consolidated.
However, before the coin surges further, it will have to pass a strong resistance at $0.6254. If it succeeds, it can proceed with the price ascension.
However, if it fails, another rejection is possible, likely to be a support at $0.6102, and then the one at $0.5868, should the first one fail to keep the price from dropping further.
The chart above shows the tightening of Bollinger bands, which is a bearish signal suggesting that another price rejection might come very soon.
However, the coin’s RSI score shows a certain degree of neutrality at the moment, meaning that the currency is neither overbought nor oversold.
In other words, XRP is at a crossroads, and its price could go either way. With that said, the $0.6 support level enforces the lower boundary of the triangle pattern that the coin has formed over the last few weeks, and its 200-day moving average remains nearby.
This suggests that the price is more likely to rise and break the uptrend pattern than to start spiraling down.
Even so, XRP is in a delicate position, with a high degree of uncertainty, so keeping a close eye on it in the short term is recommended.
Promising Alternative To Ripple
For investors in search of more upside potential, Bitcoin Minetrix (BTCMTX) is a strong candidate that’s now in presale.
Bitcoin Minetrix is a cloud mining project that allows users to mine Bitcoin without buying expensive mining rigs or paying massive electricity bills.
Instead, all that users need to do is purchase their native cryptocurrency, BTCMTX token, and stake it. In return, they receive credits, which can be used to mine BTC.
With Bitcoin block rewards halving expected to take place in April 2024, Bitcoin mining demand is at an all-time high, not only because the rewards will be cut in half but also because BTC price is expected to start a new bull run some six to twelve months after the halving takes place.
https://www.youtube.com/watch?v=OBkoeUag56s
Bitcoin Minetrix allows anyone to join the accumulation process simply by purchasing and staking a cheap token.
Furthermore, the project is fully decentralized and transparent, seeking to bring back the users’ faith in cloud miners.
Why #BitcoinMinetrix shines:
Effortless initiation process.
Cost-effective operations. 💵
Unrestricted space and disturbance-free. 🚀
No worries about resale. 🔄 pic.twitter.com/AkPWpo7KdV
— Bitcoinminetrix (@bitcoinminetrix) November 26, 2023
That faith has been lost over the years due to numerous fraudulent cloud miners. The project’s decentralization and transparency are crucial in proving it is different, safe, and reliable.
Since it is still in its presale, this is also an ideal moment to buy BTCMTX, which sells for only $0.0124 apiece with a price rise coming in less than five days.
This is one of the best presales and has already raised more than $5.8 million of its $6.637 million target, and once it ends, the price of its token is expected to skyrocket.
Anyone interested in purchasing it now can do so in exchange for ETH or USDT or buy it with their credit or debit card.
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