XRP has experienced a 2% bounce in the past 24 hours, with its price reaching $0.509501. This increase aligns with a broader positive trend in the crypto market during the same period. Over the past two weeks, XRP has risen by 2.5%, although it has experienced a 4% decline in the last 30 days. However, since the beginning of the year, XRP is still up by 50%.
The positive ruling in Ripple’s case against the SEC in July has contributed to this price increase. As nothing significant has changed since then, the market’s increasing optimism could potentially drive further growth in XRP in the upcoming weeks.
Ripple Price Prediction: 2% Market Cap Growth. Is a Strong October Ahead?
After weeks of overselling and underperformance, it is tempting to conclude that XRP is on the verge of a breakout rally. The coin’s relative strength index has risen to 50, indicating that buyers are taking advantage of the discounted price. Additionally, XRP’s 30-day moving average is currently positioned below its 200-day average, suggesting a potential strong rebound. The support level for XRP has also increased in the past week, indicating a bottoming-out phase and potential for new rallies.
Although data shows that whales are still sending XRP to exchanges, this could be interpreted as a sign that they anticipate further price increases before selling.
XRP is in a favorable position, similar to its state in July when it was ruled as not a security. This resulted in major US exchanges relisting the token and Ripple expanding its business through new partnerships and trials. For these reasons, XRP is expected to continue rising once market sentiment becomes more positive, with a potential target of $0.60 in the next few weeks and a possibility of reaching $0.70 or higher by the end of the year.
Other Promising Altcoins
While XRP’s progress may be gradual from this point forward, those seeking quick gains may want to explore other options. This could include diversifying into presale tokens, such as Bitcoin Minetrix (BTCMTX). BTCMTX is a tokenized cloud mining platform that aims to make Bitcoin mining more accessible to retail investors.
The BTCMTX presale began less than a week ago and has already raised over $190,000, demonstrating increasing market confidence in the project. BTCMTX allows users to stake their Ethereum-based tokens to receive tokenized mining credits, giving them access to Bitcoin mining hashpower. By staking a sufficient quantity of BTCMTX, holders can mine and earn actual BTC, democratizing access to Bitcoin mining.
Bitcoin Minetrix has quickly become one of the most interesting projects in the cryptocurrency space, with plans to launch its stake-to-mine platform by the end of the year. The maximum supply of BTCMTX tokens is 4 billion, with 1.4 billion allocated to the presale and 15% reserved for community rewards.
Investors interested in the BTCMTX presale can visit the official Bitcoin Minetrix website and connect their wallets. The token’s price starts at $0.011 in the first stage and gradually increases to $0.01190000 in the final phase. Acting quickly will allow investors to purchase the token at its lowest possible price.
Of course, the price of BTCMTX could potentially rise even higher once it lists on exchanges later in the year.
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.
