XRP Price Prediction as XRP Rallies Toward $1 Level – Time to Buy?
The XRP price has risen by 1% in the past 24 hours, with its move to $0.523743 coming as the cryptocurrency market as a whole increases by just over 3% today.
XRP is now up by 6% in a week and nearly 6% in the last 30 days, with the altcoin also having appreciated by 54% since the beginning of 2023, a year which saw Ripple gain a largely positive result in its case against the SEC in mid-July.
And with the wider market seemingly beginning what may be a medium- or long-term recovery, XRP may be in for further gains in the coming days and weeks, helped onwards by Ripple’s ongoing expansion as a company.
XRP Price Prediction as XRP Rallies Toward $1 Level – Time to Buy?
XRP had been threatening to recover from recent losses for a long while, and it now seems that it has finally begun what may be a sustained rebound.
Its 30-day moving average (yellow) has just begun rising ever so slightly towards its 200-day average (blue), and it’s likely that it will begin climbing more steeply in the next one or two days, with its crossing of the longer-term average potentially signaling a breakout.
Likewise, XRP’s relative strength index (purple) has risen close to 60 today, representing a marked increase in momentum after several weeks spent close to 30, in what was a very oversold position.
And what’s encouraging about the RSI’s rise is that it still has plenty of space to continue rising before XRP becomes overbought.
XRP is rising today because of the market-wide rally that began over the weekend, possibly as a result of the US Congress agreeing a last-minute spending bill that would avoid a damaging government shutdown.
Regardless, it seems that buyers have begun accumulating XRP again, although newcomers should be mindful that some whales may potentially use the current recovery to dump some of their bags.
In other words, XRP may dip one or two times in the short-term en route to a longer term recovery, which could end up with the altcoin returning to $0.60 in the next few weeks.
The coin’s fundamentals certainly remain good enough for it to post a sustained recovery, given that it continues to benefit from the fact that Judge Analisa Torres declared in mid-July that it is not in itself a security.
This ruling enabled US-based exchanges to relist the tokens, while it has also paved the way for Ripple to resume expanding its cross-border transfer business a little more aggressively.
Indeed, the past few weeks have seen the company sign a number of new partnerships and make some important acquisitions, including that of Web3 infrastructure provider Fortress Trust in early September.
Such developments put Ripple in a good position to expand healthily in the coming months and years, and with it XRP could easily regain many of its former levels.
This includes $1, with the appearance of a full-blown bull market in 2024 likely to push the altcoin up towards $2 or $3.
Alternative Altcoins for Market-Beating Gains
XRP is likely to mount some serious gains sooner or later, yet holders may have to wait until a fully-fledged bull market before this actually happens.
In the meantime, many traders may be better off buying into newer altcoins, which still have yet to have posted initial rallies, including presale coins that could easily surge once listed on exchanges for the first time.
A good example of such a token is TG.Casino (TGC), an Ethereum-based casino platform that has raised more than $300,000 since opening its sale last week.
TG.Casino is an online gaming platform and casino that also has a big presence on Telegram, using the social network/messaging app to tap into some of the large communities that already operate and communicate there.
In contrast to some of the more unfortunate examples of presale tokens that essentially amount to vaporware, it’s encouraging to note that TG.Casino has already launched its platform.
On it, gamers and gamblers will be able to play a wide variety of video games and more traditional casino-style experiences, with rewards being earned in the form of TGC, the platform’s native token.
TGC will come with a total maximum supply of 100 million tokens, with 40% of this supply going to the presale, 20% going to staking rewards, 20% going to DEX liquidity, and 10% to gaming rewards (another 10% will go to marketing and affiliates).
Interested investors can join the sale by heading over to the official TG.Casino website and connecting their wallets, with 1 TGC costing $0.125 for the entirety of the sale.
Once the offering has ended, TGC will list on trading platforms, where it could potentially surge.
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.
