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The global crypto market has suffered a 2.34% slump within the last day, with top crypto assets like Bitcoin (BTC) and Ethereum (ETH) dropping their gains.
On the other hand, the XRP token has defied the odds and maintained its uptrend momentum. The outcome of Ripple’s case against the US Exchange and Securities Commission (SEC) may even lead to a surge in the asset’s price if they emerge victorious.
Should investors take advantage of the Ripple asset resilience and buy for long-term gains?
XRP Defies Market Slump
At press time, the XRP coin is trading at $0.48, with an uptrend of 7.23% in the last 24 hours. The crypto asset’s bullish momentum has not relented in a while, with a surge of 30.8% in the past two weeks and 29.2% in the previous month.
This bullish streak has been good for the Ripple asset’s price and has positively influenced its technicals. The asset’s current price action sits above both simple moving average (SMA) indicators, ranging from the 50-day SMA value of $0.39 for the short term and the 200-day SMA value of $0.46 for the long term.
Its other metrics show that the XRP token has just broken through the 78.6% Fibonacci retracement level of $0.48 and is heading toward the 100% Fibonacci retracement level of $0.53.
However, the crypto asset may encounter resistance at this level or retrace before reaching it. If the rally continues and the broader crypto market recovers, the asset may hit new price heights.
XRP’s moving average convergence divergence (MACD) displays a buy position. Its relative strength index (RSI) figure of 67.66 puts the asset in the underbought region, making now a potentially profitable moment to buy XRP and rally with the market.
While XRP has demonstrated positive technical results, sustained momentum in the general crypto market may cause the asset to surpass these indicators and soar to a new price level.
XRP Sees Increase in Demand
Whale Alerts, a platform that records whale activities, recently discovered a significant quantity of XRP tokens was transferred between wallets. 50 million XRP coins, valued at $22 million, were transferred to one large address from the Mexican cryptocurrency exchange Bitso.
🚨 🚨 50,800,000 #XRP (22,840,638 USD) transferred from #Bitso to unknown wallethttps://t.co/qtoDMKhtk8
— Whale Alert (@whale_alert) March 26, 2023
The growing optimism for XRP enthusiasts regarding a favorable outcome in the Ripple v. SEC lawsuits may be one of the causes of this enormous interest.
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple, the parent company of XRP, alleging that the company issued unregistered securities in 2020.
Monica Long, the newly hired President of Ripple Labs, expressed optimism for a successful outcome later this year.
Ryan Selkis, the creator of the blockchain analytics company Messari, who had previously criticized Ripple, spoke in favor of the company and campaigned for broader adoption of the XRP Ledger (XRPL).
Other Digital Assets Investors Can Consider
While XRP has a stronghold in the crypto space, a new generation of projects is enabling a healthier lifestyle and more environmentally friendly mobility for everyone. Investors have the chance to be early adopters because these assets are still in the presale stage.
One such coin is the C+Charge native token, $CCHG.
The green energy project believes electric vehicles (EVs) are viable and wants to help with the transition. As a result, C+Charge is creating a payment system and a utility coin using blockchain to make the transition simple and rewarding.
📢 Partnership announcement 📢@C_Charge_Token 🤝 @PixiaAi
🤖PixiaAi is our strategic partner that allows EV drivers to create #NFTs of their vehicles and immerse them into the #metaverse
Join our #presale today🦾https://t.co/ixe18bPqzI pic.twitter.com/KIDVKMBRKh
— C+Charge (@C_Charge_Token) March 27, 2023
At press time, the $CCHG token price is $0.02. The digital asset has raised over $3.4 million from investors in its ongoing presale program.
The presale ends in less than 24 hours, and potential investors must take advantage of the remaining time to purchase the token.
The Fight Out native token, $FGHT, is another value-driven crypto asset investors should consider.
Fight Out is creating a fitness-gaming hybrid ecosystem by combining its play-to-earn (P2E) project with a train-to-earn (T2E) system.
Players compete using a digital NFT avatar that represents their real selves. They are also rewarded when they achieve their objectives or complete tasks.
📣 $5.9M RAISED 📣
Our presale is ending on Friday, March 31st!
This is your last chance to grab $FGHT with up to a 67% bonus!
Don't miss out 👉 https://t.co/9pikKGRjSd#Web3 #P2E #CryptoCurrency pic.twitter.com/3wgxCmArX1
— Fight Out (@FightOut_) March 27, 2023
At press time, investors can buy FGHT for $0.03. The Fight Out presale program has raised over $5.93 million so far.
There are only two days left before the presale ends. However, it’s not too late for potential investors to jump on the wave and buy the asset.
Related News
- President of Ripple “Very Hopeful” of a Victory in SEC Case Against XRP, Estimates When Decision Will Probably Be Available
- Ripple (XRP) holders beware: Ledger warns of a new wave of scams
- Ripple Price Prediction for Today, March 27: XRP/USD May Push the Price Above $0.50
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