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The XRP price is down by nearly 2% in the last 24 hours, selling for $0.603 as of 5 a.m. EST, while its trading volume dropped by 25%.
However, Ripple’s Managing director for the Middle East & South Asia, Navin Gupta, said that the crypto industry is set to expand 100x during a discussion on the future of money at the AIM Summit in Dubai.
Gupta urged people to commit to infrastructural investments moving forward. Predicting the state of the financial industry five years from now, he said that stablecoins will blur the lines between traditional and crypto finance.
He also highlighted the significant transformative impact the crypto industry could bring in reducing transaction costs.
He said that payments had become a minor part of Ripple’s business as the company aims to expand its focus on several other emerging opportunities, transforming itself into a one-stop shop for institutions delving into the crypto sector.
At @Ripple
"…Payments are now becoming a smaller part…""Information almost became zero cost…exactly the same thing will happen to money as well"
"Don't worry about where digital assets are going, invest in picks and shovels…you can't go wrong with that…"… pic.twitter.com/l2wsiaB8zn
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) November 25, 2023
XRP Price Prognosis As Crypto Industry Prepares To Become 100x Bigger
The XRP price spent most of the past month in the bear channel, which was finally interrupted after a 3-leg push downward followed by a bullish reversal. The price then spent the last several days trading sideways, falling below the 30 EMA and 200 EMA, looking for support.
The current price is $0.60, sitting right above the support zone of $0.57. While market participants wait for a bullish signal, the price may fall further before bouncing back up.
Recent predictions of the crypto industry’s 100x growth over the following years have brought much-needed optimism to investors, but so did the increase in whale activity.
Recent market data shows that an XRP whale transferred a massive amount of 80 million XRP to an unknown wallet worth approximately $48.1k at the time of the transfer.
🚨 🚨 80,000,000 #XRP (48,113,219 USD) transferred from #Ripple to unknown wallethttps://t.co/jjEbKHLjNz
— Whale Alert (@whale_alert) November 28, 2023
The mentioned decline in price seems to coincide with a notable increase in whale activity, which led to substantial amounts of XRP being dumped onto crypto exchanges.
As for XRP’s price in days to come, analysts are largely optimistic, predicting the coin’s price to surge anywhere from $0.71 to $0.88.
XRP has seen a price decline, which has left it slightly undervalued, which could cause an opportunity for investors to buy the dip. Doing so could lead to a new price surge and potentially breach the resistance at $0.625.
After that, XRP would be free to engage a resistance at $0.65. If this level is breached, XRP could head up to $0.71.
In a more bullish scenario, the coin could see a 45% increase from its current value and head up to the $0.88 mark, although this scenario seems less likely.
XRP Price: Promising Alternative To Ripple
One of the most promising opportunities in the crypto market right now is the upcoming BTCMTX token. Joe Parys Crypto recently analyzed the project and suggested it may 100x.
Bitcoin Minetrix (BTCMTX) is a cloud mining project that aims to allow its token holders to stake BTCMTX and receive credits in return. These credits are then used for mining Bitcoin.
The project indicates an opportunity for an everyday crypto user to mine BTC without spending thousands of dollars on equipment and electricity.
Furthermore, it underscores the long-term potential of mining BTC by reminding investors that one Bitcoin mined in 2013 appreciated 27,300% in ten years.
#BitcoinMinetrix = Mining #Bitcoin Made Easily ⛏️
One #Bitcoin mined in 2013 appreciated 27,300% in 10 years. 💰#BTCMTX envisions a hassle-free $BTC mining process for all. pic.twitter.com/jS7BPYMRp8
— Bitcoinminetrix (@bitcoinminetrix) November 28, 2023
With Bitcoin Minetrix, anyone can enjoy hassle-free BTC mining for another ten years – and potentially reap similar gains.
So far, the project’s message has resonated with countless crypto users, evidenced by the fact that at its presale, it managed to raise over $4.49 million as of the time of writing.
@HIVEDigitalTech expands its global mining footprint with a new data center in Sweden, committed to green energy practices and boosting #Bitcoin production. 🌐#BitcoinMinetrix has also reached another phenomenal milestone, raising over $4,400,000! pic.twitter.com/IcCDlQn7kw
— Bitcoinminetrix (@bitcoinminetrix) November 27, 2023
The project’s token currently sells for $0.0119 and can be purchased via credit/debit card or in exchange for USDT.
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