XRP, the Ripple payment ecosystem’s native cryptocurrency, was last trading lower by about 1.8% on Friday in the run-up to the release of US jobs data, which analysts have said could cause volatility in cryptocurrency markets should it impact expectations for how much further the US Federal Reserve is going to lift interest rates. XRP/USD was last changing hands close to $0.39 per token and almost bang on its 200-Day Moving Average (DMA). Meanwhile, prices have been able to hold comfortably above the 21DMA in the low $0.38s.
XRP Price Prediction – Quick Jump to $0.50 Likely?
XRP price predictions have been getting more bullish in recent weeks as the cryptocurrency has recovered from its post-FTX collapse lows. Ripple’s native token was last trading up nearly 24% versus these lows around the $0.32 mark. In the last few weeks, XRP has been in an uptrend and seems to have formed an ascending triangle. The ceiling of this triangle is for now the support-turned-resistance around $0.42.
Ascending triangles are typically viewed as a bullish price pattern. XRP/USD bulls will thus be hoping that, in the coming days, XRP can rally back to rest the $0.42 resistance area. A break above here could trigger a quick push above $0.50 and towards the next key area of resistance around $0.51. Whether XRP can surge to the moon will depend on more than just technicals, however.
Ripple may be able to force the SEC to settle its ongoing lawsuit against the firm, by essentially proving that the US regulatory agency had treated the project unfairly compared to other crypto projects like Ethereum. A big legal victory for Ripple could result in a huge cloud of uncertainty being removed for XRP and could lead to a big jump.
XRP Sees $900 Million in Trading Volumes in 24 Hours
According to CoinGecko, XRP’s trading volume across major cryptocurrency exchanges in the last 24 hours stands at around $915 million. That’s impressive but doesn’t mark a deviation from the usual weekly volume profile of the last few weeks. According to TradingView data sourced from Bitstamp, the number of XRP tokens traded so far this Friday currently stands at around 15 million.
By the end of the day, this might be closer to 30 million, which represents normal Friday volumes, according to the data. But it is notable that since the FTX-collapse-induced market crash in early November, XRP trading volumes have shifted significantly higher.
Coinbase Wallet to Remove Support for XRP
Early this week Coinbase announced that it would be removing support for XRP from its self-custody wallet. The largest US-based exchange cited “low activity” for making the decision and also removed support for the BCH, ETC and XLM tokens. Coinbase Wallet assured its users that remaining balances held in wallets would not be impacted.
The announcement didn’t seem to have much of an impact XRP’s price at the time but will come as a blow to users of Coinbase Wallet who also invest in XRP.
Alternative Altcoins To Consider
Dash 2 Trade (D2T)
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. D2T token sales recently surpassed $7.5 million and the sale will soon enter its fourth phase, which will see the token pre-sale price lifted to $0.0533 from $0.0513.
Visit Dash 2 Trade here
RobotEra is an early-stage sandbox-style crypto metaverse project that hopes to usurp the likes of Decentraland and The Sandbox with superior graphics and a more gamified feel. The RobotEra metaverse will feature a variety of different play-to-earn and player-versus-player games.
In just a few days since the start of its pre-sale of the TARO token that will power the in-metaverse economy, RobotEra has already raised close to $300,000. Once RobotEra has raised $1.8 million, the price of the TARO tokens being sold will jump to $0.025 from their current $0.020 level, so interest investors are encouraged to get in quickly.
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Amid the growth in popularity and importance in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider the IMPT token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprints and allows users to trade carbon credits.
IMPT tokens are currently in their second stake of presale. Over 715 million tokens have now been sold, with IMPT having raised nearly $13.5 million.
Visit IMPT Now