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The XRP price soared 7% in the last 24 hours to trade at $1.16 as of 02:27 a.m. EST on trading volume that plunged 56% to $10 billion.
This comes as XRP records an increase in Open Interest (OI) as long/short data shows that traders are biased towards shorts. However, an increase in both OI and prices indicates a bullish trend, as it is a signal that new money is entering the market.
Could regulatory clarity and upcoming technical changes spur more growth for the XRP price?
XRP Price Could Still Soar
The XRP price has recently experienced a sharp breakout, evidenced by a significant upward movement through a parabolic curve. This parabolic price action is characteristic of strong bullish momentum, as the bulls capitalized on the $0.55 support to push the price up, according to data from GeckoTerminal.
The price of XRP is now well above both the 50-day and 200-day Simple Moving Averages (SMAs), an indication that the bullish stance has been prolonged.
Meanwhile, the Relative Strength Index (RSI) is at 86, which shows that the asset is overbought, which could suggest that a pullback or short-term consolidation is possible. However, during strong bullish trends, RSI can remain elevated for extended periods.
The Moving Average Convergence Divergence (MACD) also supports the bullish sentiments, as the blue MACD line at 0.1331, is well above the signal line (0.0687) and the zero line, confirming strong bullish momentum. The histogram is highly positive, with the green bars on the histogram extending above the zero line, supporting the continuation of upward momentum in the short term.
XRP Price Prediction
According to the XRP price analysis, if the price sustains above $1.00 with high volume, it could test higher resistance levels, such as $1.20 and beyond.
Conversely, given the overbought RSI, a short-term pullback to $1.00 or $0.80 is plausible before another leg up.
Meanwhile, as the XRP price soars, the Pepe Unchained (PEPU) presale is another token on a tear after blasting past $35.9 million in funds raised.
YouTube channel 99Bitcoins, with over 706K subscribers, says it has the potential to soar turn $1k to $10k after launch.
Pepe Unchained Presale Enters Last 25 Days Amid Exchange Listing Speculation
Pepe Unchained continues to gain momentum in the meme coin space and is now easily the most successful meme coin presale of the year.
As its name suggests, the project aims to free Pepe from the limitations of his old, cumbersome Layer 1 server. The project will operate on its own proprietary Ethereum Layer 2 blockchain, promising a more efficient and scalable solution with faster transactions and lower costs.
This positions it as a formidable competitor to its predecessor, Pepe (that soared 763x), as it aims to become the leading frog-themed meme coin in the market.
We’ve been approached by several Tier 1 exchanges interested in $PEPU.
While this is an exciting opportunity that will boost visibility and liquidity, it also requires careful planning to ensure the best possible launch.
— Pepe Unchained (@pepe_unchained) September 18, 2024
The development team also has ambitious goals, and recently unveiled Pepe’s Pump Pad, a meme coin launchpad that will take on Solana’s Pump.fun.
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 77%.
With a countdown timer now introduced for the presale, there are only 25 days before the project is listed on tier 1 exchanges.
Could PEPU be the next meme coin to explode after potential listings on major exchanges like Coinbase or Binance?
The original Pepe itself experienced massive gains after listings on Coinbase and Robinhood last week, hinting at a similar future trajectory for a heavyweight ICO like PEPU.
You can buy $PEPU tokens from the official website here for $0.012891 using ETH, USDT, or a bank card.
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