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The XRP worth plummeted 19% within the final 24 hours to commerce at $2.21 as of 11:18 p.m. EST on buying and selling quantity that surged 352% to $25.5 billion.
This comes as stories arose that Ripple Labs has moved 700 million XRP tokens into escrow, which implies that the tokens are quickly locked and can’t be used for buying and selling.
The transfer is a strategic defend towards potential declines in XRP’s worth, as the general cryptocurrency market spirals downward.
700M+ $XRP locked. 500M+ $XRP unlocked. @Ripple isn’t taking part in round. This appears like a liquidity check earlier than one thing massive drops. Are we about to witness historical past? 👀
— Hunter (@TheTeaPartier) February 2, 2025
XRP Worth On A Sustained Downtrend
The XRP worth evaluation on the 4-hour chart exhibits a transparent bearish breakdown following a chronic interval of consolidation inside a falling wedge sample.
After failing to interrupt above the higher resistance trendline close to $3.10, the XRP worth began trending decrease, ultimately breaking under each the 50-period Easy Shifting Common (SMA) on the 4-hour chart at $2.9872 and the 200-period SMA at $2.7918, in keeping with GeckoTerminal knowledge.
The value of XRP has now collapsed to $2.2171, marking a big loss in a short while, with a big quantity spike confirming robust promoting strain.
Furthermore, the Relative Power Index (RSI) is at 11.12, which is deeply oversold (<30). Such excessive oversold circumstances typically result in a short-term bounce, however the broader bearish momentum could restrict any restoration makes an attempt.
The Shifting Common Convergence Divergence (MACD) is in adverse territory (-0.0758 for the MACD line and -0.1694 for the sign line), displaying a robust bearish crossover. This means that momentum stays in favor of the bears, and no indicators of a reversal are current but.
Ripple Token Worth Prediction
With the XRP worth breaking under key assist ranges, additional draw back is probably going except patrons step in aggressively. The subsequent main assist degree to observe is round $2.00, and if this breaks, XRP may see $1.80 and even decrease within the brief time period.
Given the extraordinarily oversold RSI, a aid bounce may happen, doubtlessly pushing XRP again towards the $2.50-$2.60 resistance zone. For a real pattern reversal, the Ripple token should reclaim the $2.80-$3.00 vary and maintain above it.
Because the XRP worth plummets, buyers are additionally shopping for a brand new meme coin referred to as Meme Index (MEMEX). In accordance with crypto analyst and YouTuber Jacob Bury, who has over 54.9k subscribers, MEMEX has the potential to be the subsequent 10x crypto.
Meme Index Presale Raises Over $3.29 Million
Discovering promising alternatives amongst a whole lot of weekly launches stays a big problem within the crypto and meme coin markets.
Meme Index addresses this via its decentralized index platform, designed to categorize and group meme cash primarily based on how dangerous of an funding they’re. Since its December 2024 launch, the MEMEX token presale has already raised almost $3.3M.
🚨 Meme Index is dwell in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled entry to the $120 billion meme coin market.
Meme Index provides unique entry to indexes that cater to each danger… pic.twitter.com/GsiBBuZOzX
— Finest Pockets (@BestWalletHQ) December 27, 2024
The platform provides 4 distinct funding baskets—Titan, Moonshot, MidCap, and Frenzy—catering to numerous danger appetites.
These baskets vary from together with established tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) to that includes rising, high-potential, and high-risk meme cash.
By holding MEMEX tokens, buyers acquire entry to those curated portfolios, simplifying the method of investing within the meme coin sector.
A standout function of the Meme Index is its staking program, which is at present providing an annual proportion yield of roughly 692%.
You should purchase MEMEX tokens on the official web site for simply $0.0158443 to take part within the presale.
Purchase MEMEX right here to lock in the very best deal earlier than its worth will increase in 44 hours.
Associated Information:
Latest Meme Coin ICO – Wall Avenue Pepe
- Audited By Coinsult
- Early Entry Presale Spherical
- Non-public Buying and selling Alpha For $WEPE Military
- Staking Pool – Excessive Dynamic APY
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