Litecoin is Going to Zero as LTC Price Drops 10% in a Week While This New XRP Project Just Raised $1.3 Million – 100x Potential?
Litecoin has endured a month of bleak downside price action that has left LTC trading low, but could a consolidation zone poise the price to explode? Find out in this Litecoin price analysis.
The collision course with lower trendline support was triggered by rejection from a local high at $115 on July 2, and a tumultuous -25% bleed-out followed.
LTC Price Prediction: Is Litecoin Going to Zero?
With Litecoin trading low at a current price of $84 (a 24-hour change of +0.25%), bag holders are left fighting for life as 6-days of consolidation at lower trendline support appears to be attempting to push up.
Price action hasn’t seen price levels this low since July, and while there are numerous historical bounces in this zone – all might not be over just yet.
In a significant loss to Litecoin technical structure, the critical loss of support from both the 20DMA and 200DMA during the catastrophic -12% downside move on August 2 could spell disaster.
Worse still, the 20DMA has plummeted below the 200DMA, forming a dreaded death cross pattern which adds a very bearish atmosphere to the chart.
The RSI provides some relief, having cooled-off significantly during the consolidation around $80, this key indicator is now reading at 39.5 – a strong oversold signal.
However, the MACD tempers this analysis, with bearish divergence at -0.67.
Despite the bleak technical structure, all is not over for Litecoin just yet, with a risk: reward profile reflecting the fact that LTC is in the bottom of its well-established trading channel.
To the upside, Litecoin is targeting a reclamation of solid footing above moving average support around $92.25 (+9.85%).
On the downside, risk is limited at a lower support zone around $75 (-10.6%).
This leaves Litecoin with a risk: reward profile of 0.92, a bad entry, characterised by larger risk.
But while LTC is facing a troubled chart, an emerging XRP off-shoot project is exploding after the success of Ripple against the SEC.
XRP20 Creates Storm in Markets On Promise of Ripple Staking Rewards
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 markets, and the traction has grown huge as XRP20 surges over $1.5m raised,
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, XRP20’s $1.85m presale is sure to sell out.
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.
Staking for Ripple? XRP20 Brings Utility to the Retail Holders That Supported Ripple
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.
