{"id":432258,"date":"2023-08-23T11:01:24","date_gmt":"2023-08-23T11:01:24","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=432258"},"modified":"2023-08-23T11:01:24","modified_gmt":"2023-08-23T11:01:24","slug":"ripple-price-prediction-xrp-falls-1-whales-new-favorite-or-temporary-pause","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-price-prediction-xrp-falls-1-whales-new-favorite-or-temporary-pause","title":{"rendered":"Ripple Price Prediction: XRP Falls 1% \u2013 Whales’ New Favorite or Temporary Pause?"},"content":{"rendered":"

After a 1% decline at yesterday’s close, <\/span>Ripple (XRP)<\/span><\/a> saw a 0.2% rise, reaching $0.53 by 3:18 a.m. EST. <\/span><\/p>\n

While this might be a positive sign for buyers, the monthly overview shows a significant 28.5% drop.<\/span><\/p>\n

\"XRP\/USD
XRPUSD Chart Analysis. Source: Tradingview.com<\/figcaption><\/figure>\n

As seen in the chart above, XRP is trading within an ascending triangle, with the upper barrier proving resilient, forcing the price to pull back. <\/span><\/p>\n

If the bears are persistent, they may drive the price to the lower barrier of the triangle.<\/span><\/p>\n

The price indicators for XRP also highlight an increase in selling pressure. The price trades below the 50-day and 200-day moving averages. <\/span><\/p>\n

If these Simple Moving Averages (SMAs) continue to exert their influence, a more significant decline could likely occur. This could encourage bearish traders, potentially leading to a substantial drop toward the critical support level at $0.29.<\/span><\/p>\n

The downward path of the relative strength index (RSI) adds to the prevailing bearish sentiment. The RSI is currently at the oversold threshold of 30. This underscores the likelihood of further selling pressure and a potential rebound.<\/span><\/p>\n

Optimistic investors must display additional resilience as the price is projected to decrease further, eventually finding stability at the key support level of $0.31. <\/span><\/p>\n

During this period, the bullish camp might find an opportunity to consolidate their efforts and recover their losses, making it an attractive buying point. <\/span><\/p>\n

This effort could involve pushing the price toward the crucial resistance point of $0.65.<\/span><\/p>\n

As Wall Street Memes approaches the final stages of its presale project, a new wave of millionaires could emerge. <\/span><\/p>\n

The token is currently available at a low price point and holds the potential for substantial returns once it is listed on exchanges. This positioning makes it a compelling alternative to XRP.<\/span><\/p>\n

$WSM Presale Approaches Final Stretch<\/h2>\n

Wall Street Memes (WSM) <\/span><\/a>stands out with its notable appeal in meme-based tokens, emerging as a prominent and competitive player. <\/span><\/p>\n

Its presale round has attracted attention from experienced investors and those new to the world of cryptocurrencies.<\/span><\/p>\n

\n

Great advice (Credit @gabagoolmarx<\/a>) pic.twitter.com\/mPAqm0SpjJ<\/a><\/p>\n

— Wall Street Memes (@wallstmemes) August 22, 2023<\/a><\/p><\/blockquote>\n