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XRP price has increased by 0.6% in the last 24 hours to trade at $0.6211 at 5:30 a.m. EST, while trading volume increased 7.5% to $1.44 billion.
And Ripple President Monica Long is optimistic about future prospects, predicting a “watershed moment” for the crypto industry in 2024, especially DeFi.
1/ In 2024, cryptocurrencies will break the speculative cycles that have defined the industry's booms and busts since the invention of bitcoin, ahead of the next “cryptocurrency summer.” We, as an industry, will break the cycle by laying the foundation for real-world utility at scale, which…
– Ripple (@Ripple) December 19, 2023
Ripple's president insists this is the time the industry needs to focus on creating compliance tools for decentralized environments, which she called “the next frontier of blockchain innovation.”
3/ Compliance and transparency: In 2024, being compliance conscious will not be enough: the industry must prioritize compliance to keep our customers and users safe, regaining the trust we have lost following some major industry setbacks. The industry needs to create compliance tools…
– Ripple (@Ripple) December 19, 2023
XRP Price: Ripple Price Forecast
While Ripple's price currently sits at $0.62, the project saw a massive price surge less than two weeks ago, taking it to almost $0.70. Some believe that XRP is preparing for another attempt to reach this level and potentially go higher.
Some experts believe that Ripple can reach the dollar, which is why they encourage HODLing. This prediction comes from the fact that the coin experienced a reasonably long rise, after which the price consolidated.
However, before the coin rises further, it will have to overcome a strong resistance at $0.6254. If you are successful, you will be able to continue the price increase.
However, if it fails, another rejection is possible, probably support at $0.6102, and then $0.5868, if the first fails to prevent the price from falling further.
The chart above shows the tightening of the Bollinger Bands, which is a bearish signal suggesting that another price rejection could occur very soon.
However, the RSI score of the coin shows a certain degree of neutrality at the moment, meaning that the coin is neither overbought nor oversold.
In other words, XRP is at a crossroads and its price could swing in either direction. That said, the $0.6 support level reinforces the lower boundary of the triangular pattern the coin has formed in recent weeks, and its 200-day moving average remains nearby.
This suggests that the price is more likely to rise and break the uptrend pattern than to start spiraling down.
Still, XRP is in a delicate position, with a high degree of uncertainty, so it is recommended to keep a close eye on it in the short term.
Promising alternative to Ripple
For investors looking for greater growth potential, bitcoin Minetrix (BTCMTX) is a strong candidate that is now up for pre-sale.
bitcoin Minetrix is a cloud mining project that allows users to mine bitcoin without purchasing expensive mining rigs or paying huge electricity bills.
Instead, all users need to do is purchase their native cryptocurrency, the BTCMTX token, and stake it. In exchange, they receive credits that can be used to mine btc.
With bitcoin block rewards expected to halve in April 2024, bitcoin mining demand is at an all-time high, not only because the rewards will be halved but also because the price of btc is expected to start a new bull run in six to six months. twelve months after the halving occurs.
https://www.youtube.com/watch?v=OBkoeUag56s
bitcoin Minetrix allows anyone to join the accumulation process by simply purchasing and staking a crypto-investments-top-picks-explosive-growth-calsona-j8nhe”>cheap token.
Furthermore, the project is fully decentralized and transparent, and seeks to regain users' faith in cloud miners.
Because #BitcoinMinetrix shines:
Effortless initiation process.
Profitable operations.
Space free of restrictions and without disturbances.
Don't worry about resale. pic.twitter.com/AkPWpo7KdV
—Bitcoinminetrix (@bitcoinminetrix) November 26, 2023
That faith has been lost over the years due to numerous fraudulent cloud miners. The decentralization and transparency of the project are crucial to demonstrate that it is different, secure and reliable.
Since it is still on pre-sale, this is also an ideal time to buy BTCMTX, which is selling for just $0.0124 each and a price increase in less than five days.
this is one of crypto-presales-2024-unveiling-most-anticipated-calsona-gxcce/”>best pre-sales and has already raised over $5.8 million of its $6.637 million goal, and once it is completed, its token price is expected to skyrocket.
Anyone interested in purchasing it can now do so in exchange for eth or USDT or purchase it with their credit or debit card.
Related news:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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