XRP Price Prediction as XRP Turns Green – $1 Incoming?
The XRP price has risen by 17.8% since falling to two-month lows on Monday when the ongoing FTX bankruptcy crisis pushed the wider cryptocurrency market down to a total cap of $859 billion. At $0.385257, XRP’s current price represents a very slight 0.3% dip in the past 24 hours, as well as a 19% drop in the last 30 days.
With the Ripple-SEC legal battle still dragging on, prospects for the XRP price in the short term remain uncertain. While previous months had brought plenty of positive developments for Ripple in its tussle with the securities regulator, last week saw the latter win an important — and similar — case against file-sharing cryptocurrency LBRY.
As such, the probability of Ripple securing a favorable outcome in its case has arguably dipped, implying that the XRP price may never fully recover. That said, if Ripple does win, XRP has every chance of passing $1 and beyond.
XRP Price Prediction as XRP Turns Green – $1 Incoming?
According to XRP’s indicators, it’s currently losing momentum and undergoing a downswing. Its relative strength index (purple) fell below 30 in the past few days, indicating strong selling, and while it has recovered a little more recently, it looks to be dipping back to 40.
Similarly, its 30-day moving average (red) is pointing downwards and may fall below its 200-day average (blue) in the next week or so, signaling a ‘death cross.’ This would portend further losses, at which point it may reach a bottom, providing a good time to buy at a discount.
As we’re now warning with pretty much every other coin in the market, the ongoing FTX crisis threatens to push XRP’s prices down further in the shorter term. The collapsed exchange is currently under administration after filing for chapter 11 bankruptcy, which potentially holds out the remote hope of returning to normal operations. However, if these bankruptcy proceedings end with FTX being dissolved and shut down, it’s likely to have yet another negative impact on the market.
On top of this, given how heavily invested FTX and related company Alameda Research was in the crypto ecosystem, it’s likely the market will witness some noticeable contagion effects. Again, this will depress prices even further for XRP and most other tokens.
XRP also faces the issue of Ripple’s case with the SEC. While previous months had brought a consensus that Ripple had a very good chance of gaining a positive outcome, LBRY’s loss has cast such confidence into doubt.
Quite a turnaround for the SEC case against Ripple $XRP, as LBRY just lost theirs and had their token classified as a security because they kept a large chunk of them to themselves.
— Tree of Alpha (@Tree_of_Alpha) November 7, 2022
Surprisingly enough the XRP price action is not reflecting this, at all.
Observing for now. https://t.co/B8CBe6DqTR
However, while some observers have played up the negative implications of LBRY’s defeat, others — including long-time Ripple/XRP-championing lawyer John E. Deaton — have claimed that it makes no real difference to Ripple’s case since the two differ significantly.
Another example of the absurdity of the SEC’s claims. Like I said, comparing LBRY motion for summary judgment and Ripple / XRP is a huge mistake. https://t.co/cfc9vHu5vl
— John E Deaton (@JohnEDeaton1) November 10, 2022
It’s therefore up in the air as to whether Ripple will prevail, with no real certainty or confidence either way as to what will happen in a few months’ time.
Alternatives for Gains
Even assuming that Ripple wins its case or settles, an outcome isn’t likely for several months yet. In the meantime, traders may therefore prefer to look elsewhere for gains, with presale altcoins proving one of the most promising sources of returns at the moment.
Indeed, even during this year’s bear market, some new coins have posted massive returns soon after listing for the first time. Last month, for instance, Tamadoge (TAMA) rose as high as 1,800% over its presale price, after listing on OKX.
This underlines the potential of new coin with strong fundamentals, something which is offered by the three coins below.
Dash 2 Trade (D2T)
Based on Ethereum, Dash 2 Trade is a trading intelligence platform that helps investors make more informed decisions by providing them with a range of real-time analytics and social trading data. Scheduled to launch in the first quarter of next year, the sale for its native D2T token has already raised over $6.3 million, while it has already announced listings on BitMart and LBANK Exchange for early next year.
RobotEra (TARO)
Another Ethereum-based platform, RobotEra (TARO) is a Sandbox-like Metaverse in which gamers can play as robots and participate in the creation of its virtual world. Scheduled to release its alpha version by the coming spring, its ecosystem will see users creating their own NFT-based land, buildings, and other in-game items, all of which can be traded with other players.
Investors can participate in the sale of its TARO token by heading over to its website, where 1 TARO is now going for 0.020 USDT (it can be bought using either USDT or ETH). This price will increase to $0.025 in the second stage of its presale, which is due to begin soon.
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IMPT (IMPT)
IMPT is a carbon credit marketplace and eco-friendly retail platform where consumers can earn tokenized carbon offsets. Such NFT-based credits can be traded on IMPT’s marketplace, while they can also be retired, helping users to build an IMPT.io score that tracks their carbon and environmental impact.
IMPT’s presale has raised over $12.8 million since beginning at the start of October, with 1 IMPT currently selling for $0.023.
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