Is It Too Late to Buy Uniswap? UNI Price Rises 15% and This New XRP Project Could 100x This Year – Here's Why
Top decentralised exchange (DEX) Uniswap has seen UNI (native governance token) surge up +15% in a magnificent pump sending ripples through markets.
This comes amid a storm of anxiety sweeping through DeFi markets this week, following a serious exploit incident which saw Curve pools lose more than $47m to crypto thieves.
With investors racing away from DeFi protocols in response, this week has seen a surge of capital flooding into DEX projects like Uniswap - fuelling the dramatic price move.
UNI Price Analysis: How Long Will Uniswap's Curve Exploit Pump Last?
The price action triggered by Curve's smart contract exploit has left Uniswap in strong form, with UNI currently trading at $6.30 (a 24-hour change of -5.64%) as a retracement move unfolds.
Ongoing price action is in a -6% retracement, following rejection from topside resistance at $6.70.
Upside momentum comes amid a strong two-months for UNI, which has climbed +72% since June 10.
The recent move, fuelled by trader's angst surrounding Curve, has seen UNI launch away from local support at the 20DMA, which now trades below price action at $6.04.
There is also the emergence of a strong support zone at $5.75, which has seen a historical price level reinforced by convergence with the 200DMA.
Now retracement and consolidation seem to be on the cards, with the RSI signalling bearish divergence at an over-bought 59.
The MACD contrasts this, with bullish divergence reflecting the recent upside swing at 0.029.
Despite the impressive rally, UNI is facing a tough risk: reward profile at 0.65 - as risk dominates price structure.
Upside potential here has been limited by local resistance, leaving UNI bulls targeting a return to $6.66 (+6.13%).
Whereas downside risk has grown significant after UNI pushed away from moving averages, on the downside a move to $5.75 (-9.4%) seems likely.
While it could be considered too late to buy Uniswap now, smart capital has already began rotating from this pump to the next big play in the space: introducing XRP20.
How XRP20 Plans to Surge After Ripple vs. SEC Ruling
XRP20, a distinctive proof of stake Ethereum token. XRP20 is engineered to emulate the philosophy and tokenomics of Ripple (XRP), but with a particular focus on retail investors.
Despite drawing on Ripple's concepts, it's crucial to highlight that XRP20 stands alone as an independent project with no direct affiliation to the well-established XRP.
Attractively, XRP20 is currently available at a strikingly low price point, retailing for $0.000092 with more than $100k raised in the opening 24-hours.
This valuation is about 30 times lower than XRP's all-time low and thousands of times cheaper than XRP's current price of $0.70, but the allure of XRP20 extends beyond its pricing.
XRP20 Leaves XRP Staking Rewards Dead in the Water
The project proposes a unique staking reward system within a deflationary ecosystem.
With 40 billion $XRP20 allocated to staking rewards and 10 billion intended for permanent removal via a burn mechanism, the token supply will decrease over time, which could increase scarcity and add an upward pressure on the token's value.
The XRP20 presale serves as an inviting opportunity for early adoption, the project's roadmap highlights a focus on marketing and awareness, followed by a token burning mechanism and community staking.
By capitalizing on Ripple's recent legal victory over the Securities and Exchange Commission (SEC), XRP20 could attract attention from a significant investor base.
Yet it's imperative for potential investors to understand that XRP20 is not Ripple, and investment in this token comes with its own risks and rewards.
How To Buy XRP20?
- To join the XRP20 presale, investors will need a Web3 wallet, either MetaMask or Wallet Connect.
- With the required USDT and ETH crypto in their wallets, investors can connect their wallets to the presale page, specify their purchase amount, and claim their $XRP20 tokens upon completion of the presale.
Considering the potential of XRP20 and Ripple's historical price increase of 137,000%, XRP20 could offer significant gains for early buyers.
Coupled with its unique stake-to-earn mechanism, retail investors have a compelling opportunity to participate in the XRP20 project.
Be sure to follow XRP20's progress on Twitter and Telegram for the most recent updates.
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.