The XRP price has held stable in the past 24 hours, rising by a very modest 0.3% following yesterday’s filing of a fake XRP ETF trust.
At $0.655239, XRP is now down by 4% in a week, but remains up by 13% in a fortnight and by 34% in the last 30 days.
The coin has made such gains on the back of positive news regarding Bitcoin ETFs, and with the market remaining largely buoyant in the wake of such news, further gains are likely.
This is particularly the case when XRP remains in such a strong position fundamentally, given recent successes in the Ripple-SEC case.
XRP Price Prediction as BlackRock Trust Filing is Debunked – Can XRP Reach $10?
XRP’s indicators have lost some strength in the past day or so, yet the coin has retained enough medium-term momentum to recover soon.
Its 30-day moving average (yellow) continues to climb steadily above its 200-day (blue), providing a classic sign of buying pressure and growth.
And while XRP’s relative strength index (purple) has dipped to 60 today, this still counts as a relatively high level, consistent with further gains.
Given that the coin’s support level (green) has made substantial headway in the past few weeks, XRP is unlikely to suffer significant falls if it dips in the near future.
Its trading volume also supports this view, remaining elevated at around $3 billion and sufficient to feed into further big price rises.
Such rises are likely to arrive once the proverbial dust has settled on yesterday’s fake XRP ETF trust filing.
Submitted to the state of Delaware, this filing caused the XRP price to surge to $0.70 yesterday, only for experts to quickly debunk it.
You can spoof the formation of an “XRP ETF” Trust.
It’s fraud, but it’s actually very easy and just costs $500.
You only need to file two documents (attached), pay the money, and you get a “placeholder” on the state website.
That’s all I can tell you-other than “good night!” pic.twitter.com/0ZuHigrxWU
— Jeremy Hogan (@attorneyjeremy1) November 14, 2023
This debunking caused the altcoin’s price to crash back down to earth, and while it still carries the weakness of its crash, such weakness is not likely to last very long.
Indeed, XRP remains in a strong position fundamentally, while the market is likely to see further rallies as its nears 2024 and potential Bitcoin ETF approvals.
For example, Ripple has secured a number of positive rulings in its case with the SEC in recent months, with the most recent update being that Judge Torres has published the schedule for reaching a settlement.
— James K. Filan (@FilanLaw) November 13, 2023
This schedule suggests that the Ripple-SEC case could finally be over by next summer, leaving Ripple and XRP free to continue growing.
For now, the XRP may reach $0.80 or $0.90 by the end of 2023.
Market-Beating Gains With New Altcoins
Because XRP may have to wait until the summer to post especially large gains, some traders may prefer to look towards other coins.
One promising area at the moment is presales, with presale coins often recording significant rallies when listing on exchanges for the first time,
While not every presale coin is likely to be successful, one of the most promising in the market right now is Meme Kombat (MK), an ERC-20 cryptocurrency that will enable users to bet on AI-generated meme battles.
Meme Kombat just blasted past $1.6 million raised in presale
There’s no stopping it! pic.twitter.com/QM7dSxgsUd
— Meme Kombat (@Meme_Kombat) November 13, 2023
Impressively, Meme Kombat’s presale has already raised more than $1.6 million, a clear sign that it’s winning investors over with its unique take on online gambling.
Not only will its platform use AI to randomize battles between popular meme characters, but it will also visualize these battles in real-time, providing users with an entertaining focus for their bets.
Players can bet against each other or against the game itself, with winnings paid out in the form of MK, which users can also stake for a passive income.
As a token, MK will have a hard cap of 120 million, with 50% of this going to the presale and another 30% to staking and battle rewards.
Those who haven’t done so yet can get involved in this presale by visiting Meme Kombat’s official website, where they can connect their software wallets and purchase MK accordingly.
The sale is selling 1 MK at a price of $0.189, yet this will rise in under three days, while it could rise much higher once the sale ends and MK lists.
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.
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