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The XRP price has risen by 3% in the past 24 hours to trade at $0.699724 as of 5:45 a.m. EST, contributing to a weekly gain of 15.2%.
After experiencing price spikes following its court victory over the Securities and Exchange Commission, XRP is now riding on the BTC bull run after Bitcoin experienced a 4.2% increase in the past 24 hours. Historically, BTC has been known to lift the fortunes of almost all cryptocurrencies.
Although the trading volume for XRP has dipped by -8.9%, the weekly performance of the altcoin is sparking optimism for an extended bull rally in its price.
XRP Price: Bulls Prepare for Break Above $0.75 Resistance
XRP’s price did not experience the anticipated surge in the past day despite the commencement of Ripple’s developer conference at this time.
$XRP pumps before Ripple Swell and then stops once the conference takes place as usual. It always has us thinking maybe this time will be different 😭
— XRPcryptowolf (@XRPcryptowolf) November 8, 2023
Although the event spans only two days, its expected impact on the altcoin remains substantial.
XRPUSD Chart Analysis. Source: Tradingview.com
XRP encounters the obstacle of surpassing the resistance zone around $0.75. The bulls find stability at the support level of $0.47, providing the momentum to propel the price beyond the crucial resistance point at $0.54, aligning with the 200-day SMA.
A breakthrough above $0.75 could validate the bullish perspective, initiating a substantial surge for XRP that could exceed the record highs observed in 2017.
With a crossover above the 200-day and 50-day moving averages on the daily chart, the price solidifies the bullish sentiment, as these moving averages now act as immediate support levels.
Although the Relative Strength Index (RSI) has slightly decreased, it remains above the overbought threshold of 70, currently resting at 77. This signifies a heightened momentum and buying pressure compared to its previous performance.
XRP Price Expected To Rise 24%
XRP is expected to see a 24% price hike, aiming for the $0.92 mark with hopes of a breakthrough. If successful, this could trigger a subsequent rally, pushing the price past the $1 mark, a 42% increase.
On the flip side, if the resistance at the $0.75 level holds firm, it might generate a bearish sentiment, prompting a downward correction toward the support zone at $0.61.
Despite good prospects for XRP, many investors are directing their focus towards BTCETF, the token linked to the groundbreaking Bitcoin ETF Token project with lucrative returns tied to the launch of spot Bitcoin ETFs (exchange-traded funds).
BTCETF Token: Innovating the Future of Cryptocurrency
The BTCETF Token sets itself apart as more than just another cryptocurrency; it stands as a forward-thinking initiative that foresees the imminent arrival of spot Bitcoin ETFs.
Prepare for the upcoming revolution in the #Crypto and #StockMarket world as #Bitcoin ETFs strive to make digital assets more accessible for all traders. 🌍
With the backing of influential figures like @BlackRock, the future of #BitcoinETF looks promising! #Crypto #Web3 pic.twitter.com/LtkZyoAmUp
— BTCETF_Token (@BTCETF_Token) November 8, 2023
It functions as an ERC-20 token on the Ethereum blockchain, seizing Bitcoin ETFs’ anticipated approval and introduction.
BTCETF also offers its community a distinctive chance to gain from these substantial developments in the cryptocurrency domain. You also have the option to stake the BTCETF token, with the most lucrative rewards reserved for early participants. As of the current moment, a total of 15,527,613 tokens have been staked.
Witnessing #BitcoinETF, the groundbreaking initiative ready to transform the #Crypto sphere with its forward-thinking approach toward upcoming #Bitcoin ETFs.
Experience the unique mechanisms and tactics that distinguish #BTCETF in the realm of virtual assets. pic.twitter.com/quNPJ28EsV
— BTCETF_Token (@BTCETF_Token) November 9, 2023
Stakers stand to receive Annual Percentage Yields (APY) reaching as high as 1954%, with rewards distributed at 119 per Ethereum block. Staked tokens and accumulated rewards become claimable seven days after the BTCETF is officially available on exchanges.
Get BTCETF Now: Presale has surpassed $100,000
You can now seize the chance to buy Bitcoin ETF Token at its most affordable rate and position yourself as a BTCETF HODLer in anticipation of the impending approval of the initial Bitcoin ETFs.
The BTCETF presale has rapidly accumulated an impressive $131,531 with a goal of $420,000. The project currently offers a single BTCETF token at $0.005.
#BitcoinETF has reached its first major milestone! 🎉
Raising more than $100K! pic.twitter.com/od7N5lhaM2
— BTCETF_Token (@BTCETF_Token) November 9, 2023
The Bitcoin ETF Token is set to advance through ten stages, each featuring specific targets. The first stage is geared towards reaching $420,000, and the tenth stage has a target of $571,200. Amid these stages, there are five milestones, and the first milestone is accomplished when the trading volume of BTCETF hits $100 million.
Explaining the first Milestone for #BTCETF! 1️⃣
$100M Trading Volume: The first recognition of BTCETF's market presence!
When total trading hits $100M, 5% of the token supply will be burned.
Transaction tax also drops from 5% to 4%.
Powerful times ahead for #BitcoinETF. 🚀 pic.twitter.com/fu2YWaGiEI
— BTCETF_Token (@BTCETF_Token) November 5, 2023
In one of his videos, Jacob Bury, a prominent YouTuber, reviewed the BTCETF token, explaining how you can buy and stake for lucrative returns.
Investors can obtain the token through Ethereum (ETH) or Tether (USDT) stablecoin by linking their web3 wallets to the official BTCETF website. Alternatively, you can buy the tokens directly using a bank card.
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