Joel Frank
Despite a broadly subdued tone to broader cryptocurrency market trade and an upbeat tone to risk appetite in traditional financial markets, XRP is coming under heavy selling pressure on Thursday. XRP is the native token that powers Ripple’s global blockchain-based payments service, and it was last changing hands about 3% lower on the day in the $0.3450 area, an abrupt 7.5% drop from earlier weekly highs in the $0.3730 area.
That still leaves XRP around 4% above its recent lows in the $0.33s, but price predictions have become more pessimistic amid a deterioration in XRP’s near-term technical outlook. XRP failed an attempted pushback above its 21 and 50-Day Moving Averages earlier this week, and its 50DMA is now back under its 200DMA, something which technicians refer to as a “death cross” that is sometimes taken as a bearish indicator.
Price Prediction – Where Next for XRP?
XRP’s most recent drop has seen it break to the south of a pennant structure, with this important short-term breakout seemingly resulting in an acceleration of sell pressure. Bears will now be targeting a test of recent lows in the $0.33s, as well as a potential test of post-FTX collapse lows under $0.32, which would mark a near 9% drop from current levels.
If XRP did fall back to its November lows, that would mark a bearish breakout from a longer-term pennant structure, which could put the possibility of a drop back under $0.30 into play.
Where is XRP Headed in 2023?
According to a survey of fintech and cryptocurrency experts conducted recently by Finder.com, XRP is seen hitting $3.81 in 2025 if Ripple wins its lawsuit against the SEC. If it loses the lawsuit, it is seen reaching $0.98 over the same time frame. In 2020, the SEC sued Ripple for offering unlicensed securities (XRP) to investors.
That suggests that while much of XRP’s outlook in the coming years depends on the outcome of the Ripple versus SEC lawsuit, the general expectation is that XRP will appreciate in the coming years. A verdict in the Ripple versus SEC lawsuit is expected in the first of 2023. Most crypto lawyers following the case expect the SEC to settle with Ripple, which would be interpreted as a win for the crypto payments platform.
“The crypto market loves to jump on a bandwagon and XRP winning its case in a bear market could likely see herd mentality which will pump the price of this old-school top-10 coin,” remarked Craig Cobb from Tradercobb.com. He predicted a short-term rally to $1.0 should Ripple win.
Popular Ripple supporting Twitter influenced Ripple Van Winkle stated in a recent tweet that he is bullish on Ripple for 2023, given their expectation that the SEC will be defeated and XRP will subsequently be re-listed on major US exchanges.
I am bullish on #xrp in 2023
Always will come to an end
The SEC will be defeated#xrp gets relisted on top US exchanges
— Ripple Van Winkle | XRP Researcher | (@XRPNews_) December 27, 2022
Altcoins to Consider
With broader cryptocurrency markets having performed poorly in recent weeks, investors may be looking to diversify their holdings with the pre-sale tokens of promising, up-and-coming cryptocurrency projects.
FightOut (FGHT) – Presale Launches
FightOut, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised nearly $2.5 million in just a few weeks. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $11.3 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in under one month.
Calvaria (RIA) – Final Presale Stage Now
Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.6 million, with a crypto whale scooping up $97.5K in one purchase earlier this month. The presale is in the final stage, with only 16% of tokens left.
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This article was written for Business 2 Community by Joel Frank.
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