XRP Analysis: Crypto Experts With Over 500K Followers Predict $XRP Crash to $0.45 While XRP20 Hits $1 Million Milestone
The price of Ripple ($XRP) is down by a steep 10% over the week as it pulls back from the pump following its intermediate victory over the SEC.
$XRP reached as high as $0.85 during the surge but has since crashed by almost 30% to the current $0.62 level.
As a result, crypto experts with over 500,000 followers predict continued downside movement toward $0.45.
Meanwhile, a $XRP alternative is emerging and is quickly gaining traction as the fundraising for XRP20 hits the $1 million milestone in just a few days.
What you'll learn 👉
XRP Price Analysis: XRP Price Struggling After SEC Victory
$XRP is now down by a steep 27% from the highs set following the SEC victory surge in July.
The cryptocurrency had been trading in a tight range between $0.4 and $0.55 since April 2023 but moved higher after a US Judge stated that $XRP should not be deemed as a security in its lawsuit against the SEC.
Following the ruling, $XRP exploded higher as traders rushed to get positioned, allowing the price to reach as high as $0.95.
Unfortunately, $XRP couldn’t close a daily candle beyond the resistance at $0.85 and has since dropped by almost 30% to reach the $0.62 level;
The market is attempting to hold support at $0.617, provided by a .618 Fib Retracement – often considered the golden retracement ratio in bullish markets.
Looking ahead, if the buyers can rebound from here, resistance lies at $0.65, $0.7, $0.8, and $0.85 (bearish .886 Fib).
This is followed by added resistance at $0.95, $1.01, and $1.06.
On the other side, if the sellers push beneath the .618 Fib support, support lies at $0.6, $0.55, $0.5, and $0.45. Additional support is expected at $0.4 and $0.37.
The RSI recently broke beneath the mid-level, indicating that the bearish momentum is starting to drive the market – hinting toward more downside risk.
Crypto Experts With Over 500,000 Followers Predict $XRP Crash to $0.45
Unfortunately, crypto experts across the industry are starting to predict that $XRP will continue its bearish price action – with some suggesting it crash as low as $0.45.
The support at $0.45 defended the bulls multiple times during April, May, and June 2023.
One crypto expert, with almost 500,000 followers on Twitter, believes that $XRP will see a complete retrace of the SEC lawsuit news, heading back into its previous range between $0.3 and $0.5;
$XRP I think a full retrace of the SEC lawsuit news is coming & will get acceptance back into it’s range pic.twitter.com/63UYpTIT9y
— Johnny (@CryptoGodJohn) August 2, 2023
Another analyst with 545,000 followers on Twitter has the same outlook, as he expects $XRP to head back to $0.4479 soon. The analyst managed to realize that the surge caused by the SEC news was short-lived after the market broke a trend line toward the end of July;
$XRP – back down to 0.4479 soon https://t.co/7h7VazY0MI pic.twitter.com/8DQGLYOrev
— TraderSZ (@trader1sz) August 4, 2023
It doesn’t stop there. Popular analyst Michaël van de Poppe, with 662,000 followers, also has a negative outlook for $XRP.
The analyst believes that $XRP is retracing its entire move because investors are finally getting a chance to exit after 1.5 years of holding and buyers still don’t have the confidence to step in;
What about $XRP?
— Michaël van de Poppe (@CryptoMichNL) August 6, 2023
It's retracing it's entire move.
Why is that?
– Investors finally getting the chance to get out after holding for 1.5 years.
– Buyers not stepping in due to lack of confidence.
Therefore, spot for obvious entry points.
The weekly timeframe has one. pic.twitter.com/yCwIGbnpPA
Overall, the outlook isn’t looking too pretty for $XRP, as experts across the industry expect it to head back into its previous range.
However, there is some hope for $XRP holders if the .618 Fib Retracement support at $0.61 holds.
Meanwhile, XRP Alternative XRP20 Hits Landmark $1 Million Milestone
While $XRP starts to trend lower, traders are beginning to look for alternative projects that can provide exponential gains with much smaller capital investments.
In particular, $XRP traders are starting to invest in a direct alternative of the token as they believe it has the potential to provide at least 10x returns over the next few weeks.
XRP20 only started its presale a few days ago but has already managed to hit the $1 million fundraising milestone, demonstrating the building traction behind this token.
The project describes itself as the second coming of $XRP, bringing the legacy token onto the Ethereum blockchain with an ERC20 version.
The evolution of $XRP integrates a groundbreaking stake-to-earn component with a revolutionary deflationary mechanism, simultaneously providing passive income and increased scarcity.
The project is the latest addition to the “Meta 2.0 Version,” which has seen tokens like Dogecoin 2.0, Ethereum 2.0, and Pepe 2.0 spawning a handful of freshly minted millionaires over the past few weeks.
XRP20 wants to reignite the passion of the legendary XRP army and provide a second chance to relive its extraordinary bull run.
The tokenomics for $XRP20 is paying homage to the legacy of the original $XRP token, with a total $XRP20 supply of 100 billion tokens.
XRP20 is entirely community-orientated, with 40% of the supply sold in the presale, 40% reserved for staking rewards, 10% set aside for DEX liquidity, and 10% earmarked for burning.
The presale sells the token at a single-stage price of $0.000092, aiming for a $3.68 million hard cap.
Investors quickly rush to this token because they’re excited about how the long-term staking and burning mechanisms will play out.
The stake-to-earn feature provides utility for retail buyers, allowing them to earn a passive income through on-chain staking.
The burning mechanism helps reduce the $XRP20 supply over time, making it scarce and more valuable if the demand grows. It works through a 0.1% buy and sell tax on the network, which is sent to a burn address.
Overall, the hype is definitely building for this groundbreaking $XRP alternative, and XRP traders are certainly getting excited as they rush to get positioned.
If you ever wondered what your life could have been like if you bought $XRP at its all-time low price, then XRP20 provides that opportunity.
However, with the presale raising $1.1 million in less than a week, more than one-third of the total presale allocation has been snapped up.
Therefore, you’ll have to be quick to get positioned at presale prices or face the pain of paying higher costs when it launches and starts to trend on popular websites like DexTool.
What Other Tokens Are Investors Turning To?
It’s not just XRP20 that’s turning heads as $XRP starts to trend lower. Traders are looking for various options to park some cash as the overall market experiences a decline.
Presales are often considered fantastic methods to park cash while the market falls as they offer closed markets that don’t drop during price capitulations.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Once the presale ends, the project tends to explode as it begins trading if it has a solid team with a well-established marketing strategy.
In particular, whales and retail traders are increasingly rushing to get positioned in the last stages of the Wall Street Memes presale, which has already raised a whopping $22 million in fundraising as investors pile in.
Wall Street Memes Crosses $22 Million as Whales Experience FOMO Like Never Before
The presale for Wall Street Memes ($WSM) recently crossed an outstanding $22 million milestone in fundraising, making it one of the fastest-growing presales in 2023.
Investors are rushing to this project as they’re intrigued by its long-term prospects due to the vast cult-like community it’s cultivating, with over 1.1 million followers on social media.
In addition, the unique blend of internet culture, meme-based humor, and decentralized finance has created the perfect recipe of hype and FOMO for $WSM – two of the fundamental factors that cause meme coins to explode.
Wall Street Memes is a meme coin with a purpose. It intends to expose the traditional financial system and make a mockery of the capitalists on Wall Street through hilarious meme-based culture on social media.
The memes are so viral that they’re generating over 40 million impressions on Twitter.
They’ve even attracted the attention of Elon Musk, who’s commented on the memes several times – sparking speculation regarding his involvement in the project;
The interactions with the tech tycoon have caused a wave of investments as traders rush to get positioned in the next meme coin sensation at presale prices.
The Musk speculation even caused whales to experience the FOMO after one whale aped in with 460 $ETH – worth around $850,000;
The FOMO from whales shows the building anticipation behind this project, as investors expect anything from 10x-50x returns from $WSM as soon as it launches.
Furthermore, rumors are spreading that Binance or OKX are set to list $WSM as soon as it launches due to its enormous community presence that will generate huge trading volumes for exchanges.
As you can see, it’s unsurprising to learn why analysts expect huge returns from $WSM with whales and Elon Musk paying attention. Some state that $WSM will be at the forefront of the next bull cycle;
Overall, Wall Street Memes has hit the perfect balance between hype and FOMO – causing its presale to sell out very quickly.
With the final stages of the presale upon us, investors will need to hurry to get positioned at the lowest prices before the token is listed on major tier-1 exchanges and explodes in the coming weeks.
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