Prominent for its innovative remittance and cross-border payment facilitation through on-demand liquidity provision, Ripple XRP was the second world’s largest cryptocurrency by market capitalization in 2018.
However, Ripple now stands behind BNB in market capitalization occupying the fifth position as its price tanks over 81% from the 2018 all-time high of $3.84. Since then, Ripple (XRP) has struggled to reclaim lost glory. Despite these, XRP’s current price is still over 24789% higher than its all-time low of $0.002802.
Following a short-lived rally to $0.8434, XRP succumbed to bearish pressure and traded at a low of $0.6922. On July 31, XRP traded at $0.7018, a nearly 2% decline in the last 24 hours.
XRP’s heightened volatility has raised concern among community members who wonder when it will reach the much-anticipated $1 mark.
XRP Down – Will It Recover?
The recent price surge of XRP was initiated when the price rebounded from its prior local support level of $0.045. Following news of Ripple’s partial win against the US SEC, XRP’s price soared from $0.47 to $0.94, marking a remarkable 73% gain, the largest surge since 2021.
Over the past week, the price of XRP declined by 10% while retaining 47% of its gains in the last 30 days. XRP trades south of investors’ expectations, who thought the token would have surpassed $1 by now. But will XRP recover? Let’s explore further.
XRP Daily Chart
The daily chart above shows that the XRP/USDT pair is experiencing bullish sentiment.
Since July 13, the asset has been trading above the 200-Day and 50-Day Simple Moving Average (SMA) indicators, suggesting a potential short and long-term bullish momentum.
Meanwhile, the bears have formed red candlesticks above the 50 SMA as they exert more selling pressure on XRP to push the price lower.
The Relative Strength Index (RSI) value is at 53, suggesting that XRP is neither heavily overbought nor oversold. But it also indicates a potential upward reversal if the bulls can overcome the bears at the $0.7015 price level.
However, traders must be cautious as the Moving Average Convergence Divergence (MACD) trades below the signal line, confirming XRP’s bearish market outlook today.
The bulls must increase momentum to cross the current price level because failure to do so may empower the bears for a downtrend in the next few hours.
Key Price Level
The XRP/USDT chart reveals an intriguing pattern, with the asset currently trading above a minor support level of $0.67.
This support level serves as a critical point of interest for traders, as any price testing at this level may likely result in a bounce-off, potentially fueling a bullish move toward the key resistance level at $0.93.
A Break above this resistance could signify further upward momentum for XRP. However, traders should remain cautious, as a failure to break the resistance level might lead to more price decline.
In such a scenario, XRP could retreat towards the notable flip zone, an area of critical importance where the asset may find substantial support. Notable, there’s a strong support level at $0.47, and the price breaching this point will trigger a massive bearish sentiment.
Expert’s Short and Long-Term Price Prediction
Experts often use algorithms with an asset’s historical price movements to generate long-term crypto price predictions. Here is what expert price analytic sites say about XRP’s future price.
Gov Capital provided a bullish short-term prediction for XRP in 2023. The website anticipated a potential rise to $0.9 by August 12, followed by a decline to $0.316 by year-end.
Wallet Investor’s XRP price prediction brought unfavorable news for XRP holders, projecting a potential collapse to $0.24 around mid-April 2024.
DigitalCoinPrice’s ripple crypto price prediction suggested potential growth, projecting an average of $0.96 in 2023 and $1.23 in 2024. For 2025, the forecast hinted at reaching approximately $1.67, possibly surging to $5.02 by 2030.
Price prediction provided one of the most optimistic forecasts, estimating that XRP could reach $8.61 by 2030 and even surpass the $10 mark; according to the experts, the price of XRP will be trading at $13.14 in 2031.
Recent Development Within the XRP Ecosystem
In a recent announcement, Ripple disclosed its collaboration with Faster Payments Council and unveiled a white paper outlining its vision to revolutionize the global money movement using crypto.
Results show that global payments leaders are dissatisfied with legacy rails for cross-border payments.
— Ripple (@Ripple) July 28, 2023
The white paper highlights how Ripple aims to transform cross-border payments, addressing the discontent among global payment leaders with conventional payment systems.
This report sheds light on the expectations of leading payment providers regarding the transformative potential of the crypto and blockchain industry in modernizing payment technologies.
This development could have a positive impact on the native asset XRP. The partnership with Faster Payments Council and the release of the white paper indicate Ripple’s efforts to transform the global money movement using crypto.
It may boost investors’ confidence and drive interest and demand for XRP.
Wall Street Memes Presale Next Meme Big to Skyrocket 100X
The goal of the meme coin project Wall Street Memes is to resurrect the historical culture of the old Wall Street neighborhood.
The project connects with the cryptocurrency sector by utilizing meme power and uniting inexperienced investors. Its native token, WSM, has quickly gained popularity among meme coins.
WSM presale is ongoing, successfully drawing fervent interest from traders and investors.
Their social media account is flooded with more than 1 million followers and has drawn much interest from the cryptocurrency community. Due to this widespread influence, there are many hopes for the token’s value to rise significantly.
Moreover, due to its distinctive attributes and broad appeal, the WSM project has a high prospect for success in the crypto industry.
Features of the WSM Project
Investors and developers are more drawn to the primary characteristics of the Wall Street Meme Coin.
The meme currency movement is led by Wall Street Memes, which personifies comedy, online culture, and meme-driven trends. The initiative uses the influence of memes to engage its members in a fun and lighthearted manner.
Also, WSM’s fundamental message is anti-capitalism, rejecting Wall Street’s traditional power and aiming for a more just financial system. The key objective is empowering small investors and encouraging financial independence for people from all walks of life.
Furthermore, the success of Wall Street Memes depends on its community-driven ethos. The project promotes a sense of strength and solidarity in their journey by valuing different viewpoints and emphasizing the community’s collective power.
Elon Musk’s Endorsement Boosts Wall Street Memes’ Popularity
Wall Street Memes has caught the attention of Elon Musk, a renowned figure in the meme coin domain.
The billionaire CEO of Tesla and SpaceX engaged with several tweets from Wall Street Memes‘ Twitter account, significantly elevating its brand recognition.
These interactions with Musk have indirectly endorsed the Wall Street Memes brand, sparking increased excitement and interest among the rapidly growing $WSM community.
Endorsements from influential figures like Musk can profoundly impact a meme coin’s price potential, leading to optimistic prospects for the $WSM project.
Additionally, the Wall Street Memes team has enlisted Aaron CryptoNoob and Crypto Jamie, notable crypto personalities, as brand ambassadors.
Their active social media promotion further amplifies $WSM’s visibility and reputation in the crypto sphere. A prominent YouTuber named Satoshi Stacker, boasting more than 280,000 subscribers, recently published a video where they analyzed the potential of $WSM.
In the video, they proposed that Wall Street Memes could compete with well-known meme coins such as PEPE and Shiba Inu.
Presale Performance Amazes A Lot of Investors
The success of WSM’s presale has been outstanding, comparable to the early achievements of fellow meme coins like PEPE and Sponge.
Out of a speculative hard cap of $19,954,489.73, it has so far raised almost $18.8 million, eliciting enthusiastic comments from investors with high hopes for its future success.
With the next phase beginning in about 32 hours, the token will be offered at a slightly higher price of $0.0328 from its current price of $0.0325.
With 80% of the tokens going to community awards and active promotion, WSM’s tokenomics aims to give back a sizeable portion of its liquidity.
Investors are keen to participate in the presales primarily because of their grasp of WSM’s system of tokenomics.
Following the presale, WSM will list on several exchanges, bringing in more investors and fostering the development of the neighborhood.
As Wall Street Memes presale draws near completion, early investors who missed the PEPE and SpongeBob revolution are rushing to join. Others are advised to engage with WSM before it sells out.
The first step for prospective investors is to link their digital wallets to the token’s website and convert their ETH or USDT into WSM. Additionally, customers can purchase the token on the website using their bank cards. Token claiming comes up after the presale ends.