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XRP Ledger (XRPL) is a decentralized, open-source technology created by Ripple. The protocol along with its native coin, XRP, is used to build solutions that address inefficiencies, including remittance and asset tokenization.
The digital asset use cases make it one of the movers in the cryptocurrency market, ranking 6th on the global crypto market chart.
However, It hasn’t been easy sailing, with various regulatory difficulties impeding progress. Although these could all be put in the past this year, giving a pathway towards continuous upward momentum.
The Ripple asset’s recent uptrend is defying the crypto market movement, generating a bullish trend despite the broader crypto market slump. Will investors buy XRP in hopes that it will keep up the surge when the general crypto market rallies?
XRP on an Upward Trajectory
At press time, the XRP coin price is $0.37 after seeing an uptrend of 0.99% in the last 24 hours. The digital asset resurgence came after a decline of 0.4% downtrend in seven days and 48% in the last year.
It’s no surprise that the technical analysis displays a slight bearish trend because of these past declines in values. Its simple moving average (SMA) indicator is at $0.38 for the 50-day short-term prediction and $0.47 for its 200-day SMA for the long-term prediction. Both of which are above the crypto asset’s current price action.
Regarding the technical analysis, XRP encountered resistance at the 61.8% Fibonacci retracement of $0.38. The crypto asset dropped and met support at the 50% Fibonacci retracement level of $0.36.
However, it rebounded and is heading back to the 61.8% Fibonacci retracement and could either meet resistance at this level or breakthrough.
The Ripple asset’s moving average convergence and divergence (MACD) value signal a sell position. However, the signal is weak, and the trail could flip to the blue line, indicating a buy signal.
On the other hand, its current relative strength index (RSI) value of 45.85 puts the digital asset in the underbought region, making now a potentially profitable moment to buy XRP.
While XRP’s technical performance leaves little to be desired, a broader crypto market recovery could see the asset break through these indicators and surge to a new price level.
Ripple Aims for Positive Result in SEC Lawsuit
Many crypto enthusiasts have been on edge since a decision has not yet been made in the Ripple vs. SEC dispute. However, Ripple CEO Brad Garlinghouse believes that the company will be favored when the decision is made in the first half of 2023.
https://twitter.com/dwdrum/status/1631760196866572288?s=20
Attorney John Deaton, the creator, and host of CryptoLaw, also supported the motion. Deaton tweeted that he is confident Ripple will prevail and that the current Supreme Court will end the U.S. Securities and Exchange Commission’s (SEC) egregious overreach.
The SEC filed the case in December 2020, alleging that Ripple sold its XRP coin as an unregistered securities for $1.3 billion.
The blockchain payments business has long challenged the assertion, claiming that XRP does not meet the infamous Howey test’s definition of an investment contract.
Alternate Value-Driven Coins to Consider
While XRP has a stronghold in the cryptocurrency space, a new generation of projects is enabling a healthier lifestyle and more environmentally friendly mobility for everyone.
Investors have a once-in-a-lifetime opportunity to be early adopters because some of these tokens are still in the presale stages.
One such recommended altcoin is the C+Charge native token, $CCHG.
C+Charge is creating a robust peer-to-peer electric vehicle (EV) payment system on blockchain technology. The eco-friendly project believes the most environmentally friendly options for transportation are electric vehicles, and it makes taking part in the EV revolution simple and rewarding.
$CCHG is currently trading at $0.018 per token. Nevertheless, the price will rise to $0.019 after the fifth of the eight scheduled stages ends in a few hours.
🏬@marksandspencer has introduced its plan to install 900 #EV charging points in the next two years in 70 stores
“At M&S, we’re reshaping the business for sustainable future growth in every sense.”
Join our #presale and be a part of this revolution⬇️https://t.co/ixe18bPqzI pic.twitter.com/P5vzTHb45d
— C+Charge (@C_Charge_Token) March 7, 2023
Investors willing to add the CCHG coin to their portfolio can use ETH, BNB, and USDT.
The popularity of the crypto asset is growing, and the project has raised more than $2.59 million for its presale so far.
Another outstanding digital asset to consider is FGHT, the Fight Out native token. $FGHT is an ERC-20 token that powers the Fight Out ecosystem – a Move-to-Earn (M2E) platform with a Play-to-Earn (P2E) base that allows users to compete in the metaverse.
Time is running out to get in on the #FightOut presale bonus!
There’s less than 4 weeks left for you to secure your spot ⏰
Don’t miss out – Buy $FGHT now!
👉 https://t.co/9pikKGRRHL#Presale #Cryptocurrency #AltGem pic.twitter.com/7ebi1Umx60— Fight Out (@FightOut_) March 7, 2023
Players are also offered rewards in cryptocurrency and NFTs to encourage and improve their fitness.
At the time of writing, the FGHT token price is $0.026. The price will increase every seven days until March 31, when it will be listed on crypto exchanges for $0.0333.
So far, $FGHT has raised over $5.29 million in its ongoing presale, and interested investors can purchase with a credit card, ETH, or USDT.
Related News
- XRP Price Finds Support At $0.366 On SEC vs. Ripple Ruling, But Is It Enough To Fuel A New Bull Run?
- Ripple Price Prediction for Today, March 4: XRP/USD May Spike Above $0.40 Level
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