XRP Price Prediction As $1.2 Billion Trading Volume Comes In – Will Whales Buy? -TGN

The XRP price is down 2.5% in the past 24 hours to $0.719308 as the cryptocurrency market as a whole barely moves.

XRP is now down 4% over the past week, having lost momentum following the rally it enjoyed in the wake of the Ripple-SEC ruling.

Nevertheless, the altcoin continues to gain 53% over the past 14 days and is up just over 110% since the start of the year, largely based on increasingly positive expectations about its future and that of Ripple.

And as trading volume remains high at over $1.2 billion, XRP could easily see further gains in the coming days or weeks.

XRP Price Prediction As $1.2 Billion Trading Volume Comes In – Will Whales Buy?

XRP’s chart suggests that the altcoin is nearing the bottom of its mini-dip, with its relative strength index (purple) poised to drop below 30, something that could indicate that the coin is oversold.

XRP’s 30-day moving average (yellow) is also currently sliding downwards, although it is possible that the cryptocurrency will recover before the shorter-term average dips below the 200-day average (blue) given its continued momentum.

Perhaps the most important indicator to watch out for right now is XRP’s support level (green), which has been pushed down through a number of dips over the past few days.

If it is breached again, with the price of XRP clearly falling below $0.715 or $0.71, the altcoin could take a few more losses before restoring itself.

Negativity aside, XRP is likely to resume its medium (and long-term) rally, with the coin still benefiting from significant momentum following Ripple seeing a mostly positive outcome in its case with the SEC.

Available data seems to indicate that while some have been sold recently, whales are generally still buying and/or holding XRP at this point, likely expecting it to hold bigger profits.

Indeed, an analysis of Lookonchain found that most whales still held on to their XRP even after the price of the altcoin rose in the wake of the Ripple-SEC ruling.

As such, the market can expect XRP to return to growth sooner or later, with the coin potentially returning $0.80 in the coming weeks before reaching $0.90 or higher in the next few months.

And longer term, Ripple’s growth as a company could help take XRP even higher, possibly to $2 or $3 in the first half of next year.

New Altcoins With Short Term Potential

While XRP is probably one of the strongest coins in the market right now in terms of fundamentals, it may take some time to see a significant price increase, especially when the initial post-SEC rally appears to be over.

As such, some traders looking for faster and bigger profits may prefer newer altcoins, especially those that haven’t had their first growth spurt yet.

One of the most promising examples of such a cryptocurrency is BTC20, a new ERC-20 token that will provide an Ethereum-based version of Bitcoin that can be leveraged to earn passive income.

The pre-sale started last week and has already raised more than $1.5 million, which is a clear and irrefutable sign that investors like what they see.

The presale of BTC20 will make 6.05 million of the altcoin available at a fixed price of $1, which was a level reached by BTC itself in 2011.

And in another homage to Bitcoin, BTC20 will have a total max supply of 21 million, with the rest of the supply being hit via staking rewards over a total of 120 years.

Such features will help make BTC20 a deflationary cryptocurrency, and over time, the price of the altcoin should rise steadily.

It seems that this is exactly what investors are expecting given that BTC20 presale has raised over $1.5 and is likely to sell out in the coming weeks.

New investors can join by visiting the official BTC20 website and connecting their software wallets to the coin which can be purchased using USDT, ETH or fiat currency.

Visit BTC20 now

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.