Over the past week, XRP has seen a 6% increase, and in the last 30 days, it has risen nearly 6%. Since the start of 2023, XRP has appreciated by 54%, thanks to Ripple’s positive outcome in its case against the SEC in mid-July.
With the market showing signs of a potential medium- or long-term recovery, XRP may experience further gains in the coming days and weeks, supported by Ripple’s continued expansion.
XRP Price Prediction as XRP Approaches $1 – Is it Time to Buy?
XRP has been on the verge of recovery for some time, and it appears that it has finally begun a sustained rebound.
The 30-day moving average (yellow) is gradually rising towards the 200-day average (blue), indicating a potential breakout as it approaches the longer-term average.
The relative strength index (RSI) for XRP (purple) has also increased, reaching close to 60 today. This significant momentum increase suggests that there is room for further growth before XRP becomes overbought.
XRP’s current rise is attributed to the overall market rally that began over the weekend, possibly due to the US Congress agreeing on a last-minute spending bill to avoid a government shutdown.
However, it is important to note that while buyers are accumulating XRP, there is a possibility that some large holders may take advantage of the recovery to sell off some of their holdings.
Therefore, XRP may experience short-term dips before entering a longer-term recovery phase, potentially reaching $0.60 in the coming weeks.
XRP’s fundamentals remain strong, especially since Judge Analisa Torres ruled in mid-July that it is not considered a security. This ruling allowed US-based exchanges to relist the token and paved the way for Ripple to expand its cross-border transfer business more aggressively.
Ripple has made significant strides in recent weeks, forming new partnerships and completing important acquisitions such as Fortress Trust in early September.
These developments position Ripple and XRP for healthy expansion in the future, potentially regaining previous price levels. Some predict that XRP could even reach $1, with a full-fledged bull market in 2024 potentially pushing it towards $2 or $3.
Alternative Altcoins for Better Market Returns
Although XRP is expected to make substantial gains in the future, it may take time and require a fully established bull market. In the meantime, traders may find better opportunities by investing in newer altcoins that have yet to experience initial rallies, such as presale coins on the verge of listing on exchanges for the first time.
An example of such a token is TG.Casino (TGC), an Ethereum-based casino platform that has raised over $300,000 since its sale opened last week.
TG.Casino is an online gaming platform and casino that has a strong presence on Telegram, tapping into existing large communities on the social network and messaging app.
Unlike many presale tokens, TG.Casino has already launched its platform, offering a wide range of video games and traditional casino experiences, with rewards in the form of TGC, the platform’s native token.
TGC will have a maximum supply of 100 million tokens, with the presale receiving 40% of this supply. The remaining tokens will be allocated to staking rewards, DEX liquidity, and gaming rewards.
Interested investors can participate in the presale by visiting the official TG.Casino website and connecting their wallets. During the sale, 1 TGC costs $0.125.
After the presale, TGC will be listed on trading platforms, potentially leading to a surge in its price.
Disclaimer: Cryptocurrency investments carry high risk. This article is for informational purposes only and should not be considered investment advice. You could lose all of your capital.