The price of XRP ($XRP) has been a hot topic among crypto influencers lately, given the token’s high level of volatility.
While opinions are mixed on whether Ripple’s XRP can reclaim the vital $1 level, some believe that clarity around crypto regulation could be a potential catalyst for a price rebound.
Aside from speculation on XRP, many influencers have also been discussing XRP20 ($XRP20), a new token looking to capture attention through unique branding and innovative use cases.
Crypto Influencers Provide Key Insights Into XRP’s Future Trajectory
It’s been a volatile few weeks for $XRP holders, with the token’s value surging after Ripple’s legal win over the SEC, before dropping 31% in the following weeks.
At the time of writing, XRP’s price is hovering around $0.639 – erasing almost half of the gains made during July’s bull run.
XRP appears to be retesting the 50-day Exponential Moving Average (EMA) as support on the daily time frame.
A break below this level could see XRP target the 200-day EMA, which sits around $0.520.
Twitter analyst Cryptollica believes this could be the case, posting a price chart showing that XRP’s current price action mirrors what occurred between 2014 and 2017.
While Cryptollica speculates that there could be one last push down for XRP, he forecasts an extended surge afterward, pushing the price out of the large triangle pattern that it’s trapped in.
Fellow analyst CryptoinsightUK recently posted a trade setup he plans to take once the $XRP price reaches $0.585.
CryptoinsightUk predicts the area between $0.585 and $0.470 will be where the $XRP price reverses, so he has placed a long-limit order at the top of this range.
However, he does note that a break below $0.470 would invalidate his hypothesis and result in liquidation.
This bullish prediction is backed up by a Fibonacci analysis from YouTuber CoinsKid, who has over 271,000 subscribers.
CoinsKid recently released an in-depth video on $XRP’s price, noting that it’s respecting key Fibonacci levels on the weekly time frame.
As such, CoinsKid believes there may be one final push down before a surge upwards – potentially to the $1.958 level, which would coincide with April 2021’s high.
Given these analyses, some investors are expressing cautious optimism about XRP’s future trajectory, awaiting the catalysts to determine its next movements.
New XRP20 Token is Also Bullish as Presale Raises $1.5 Million & Influencers Discuss Token’s Potential
While speculation around XRP’s next move remains mixed, some influencers have also been discussing an emerging token aiming to capitalize on investor interest.
XRP20 ($XRP20) brands itself as the “next evolution of XRP,” providing buyers with a limited-time opportunity to purchase an XRP-inspired token at a fraction of its all-time low price.
Leveraging nostalgia for the original XRP token, XRP20’s presale has raised over $1.4 million to date as buyers seek to gain exposure to the token ahead of its DEX debut.
Currently, XRP20 is on offer for just $0.000092 – a price strategically set 30 times cheaper than $XRP’s all-time low price.
Aside from drawing inspiration from $XRP, XRP20 implements staking rewards and deflationary mechanisms like automatic token burns, ensuring the token has built-in utility.
As outlined in XRP20’s whitepaper, the team also plans to foster strategic partnerships to boost the token’s visibility and drive investor demand.
Crypto influencer Jacob Bury highlighted XRP20 to his 20,000+ subscribers, noting how quickly the project raised $1 million through its presale as evidence of the level of investor interest.
News outlet Cryptonews also discussed XRP20 on their official YouTube channel – even going as far as to speculate that the token’s value could 10x after it makes its open market debut.
With influencers optimistic and the presale momentum accelerating, XRP20 appears well-positioned for a highly-anticipated DEX launch.
Visit XRP20 Presale
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