The XRP price has risen by 1% in the past hour, with the altcoin beginning to recover after suffering a 3% loss in the past 24 hours.
At $0.683798, XRP is up by 18% in the past week and by 31% in the last 30 days, with momentum remaining very much on its side.
The coin has also gained by 100% since the beginning of the 2023, a year defined by a series of victories for Ripple in its long-running legal battle with the SEC.
And with the wider market set for an end-of-year rally, XRP could easily rise further in the very near future.
XRP Price Prediction as XRP Becomes 6th Most-Traded Crypto in the World – Are Whales Accumulating?
XRP’s RSI (purple) has dipped slightly but is still above 70, a level that signals greater momentum and buying pressure compared to its previous performance.
More bullishly, XRP’s 30-day average (yellow) is climbing further above its 200-day average (blue), and it likely won’t be until the its well above the longer term average that the coin’s current rally will peter out.
Another bullish sign comes in the form of the coin’s support level (green), which has been rising strongly in the past week or so and which suggests that XRP has consolidated at higher levels.
The technical prognosis therefore looks very good, with XRP’s elevated trading volume – at nearly $3 billion – would suggest sustained interest in the token.
Having said that, the latest transfer data reveals that some whales have been sending XRP to exchanges.
20,700,000 #XRP (14,937,116 USD) transferred from unknown wallet to #Bitstamphttps://t.co/RI6ePgfbjC
— Whale Alert (@whale_alert) November 6, 2023
However, the coin is so strong right now that it’s arguable that a few whales selling may not impact its price massively.
And looking at the bigger picture, XRP is bound to bounce back soon enough, for a couple of reasons.
Firstly, the overall market is in a position to rally more at the end of the year, pushed by the expectation that the SEC will soon approve Bitcoin ETFs.
Secondly, Ripple has enjoyed a series of victories in its ongoing saga with the SEC, all of which have improved the bull case for XRP.
Most recently, the United States Court of Appeals for the Second Circuit told the SEC that it can’t demand a big financial penalty for Ripple unless it proves that early XRP investors lost money.
Another loss this week for the SEC – the streak continues. The 2d Circuit in SEC v Govil held that the SEC can’t ask for a crippling disgorgement award w/o first proving that “investors” suffered actual financial harm. In other words, no harm, no foul.
— Stuart Alderoty (@s_alderoty) November 3, 2023
This is a big win for Ripple, and it increases the chances that the XRP price could rise strongly in the coming weeks, potentially reaching $1 in the first weeks of 2024.
New High-Potential Altcoins
While most crypto portfolios should probably include some XRP, they should also include a portion of newer tokens, which often have higher potential upside than more established tokens.
This also includes presale coins, which can often rally big once they list on exchanges for the first time.
A great example of such a coin is TG.Casino (TGC), a decentralized casino that has raised over $1.75 million since beginning its sale over a month ago.
We have just reached $1.7 million raised in presale for $TGC
LFG players! We have some exciting things coming this week
pic.twitter.com/uSDU3XEkv9
— TG Casino (@TGCasino_) November 5, 2023
TG.Casino’s presale is doing so well for a variety of reasons, with one of the biggest begin the fact that it has actually already launched its platform.
Indeed, TG.Casino now serves more than 1,000 active players, while it has also attracted over $1 million in deposits and $10 million in bets.
This contrasts favorably with many other presale coins, which take months or years to come to market with their primary products.
Another attractive feature of TG.Casino is that, as its name suggests, it operates on Telegram.
It has already tapped into Telegram’s pre-existing communities in order to quickly grow its userbase, with its own channel having 5,000 members.
When someone says TGC isn't the greatest casino on Telegram
pic.twitter.com/0rHCrxtMP4
— TG Casino (@TGCasino_) November 5, 2023
On top of this, TG.Casino boasts an exhaustive assortment of games, from sports betting markets to more traditional card games.
It pays out winnings in the form of its native TGC token, which can also be staked for a passive income.
Investors can buy the token as part of the presale at the official TG.Casino website, where 1 TGC costs $0.15.
Given TG.Casino’s early growth and success, this price is likely to seem very cheap in a few weeks, when the token lists.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
The post XRP Price Prediction as XRP Becomes 6th Most-Traded Crypto in the World – Are Whales Accumulating? appeared first on Cryptonews.
#PricePredictions #Altcoins #Ripple #TechnicalAnalysis #XRP #XRPPricePrediction [Source: CryptoNews]