Is Ripple Price Crashing? XRP Price Drops in Rankings as AI Coin Starts Trending
The overall market is complacent despite seeing slight growth following the stir generated by recent Bitcoin wallet movements relating to Mt Gox, and the XRP price has been hit particularly hard.
Notably, XRP has seen modest growth of 0.45% over the past 24 hours after a pullback from its surge in the early hours of this morning.
Although XRP has also seen some gains over the past week, up 1.0%, it has yet to recover from the 6.85% loss it has experienced over the past month.
Looking further, it seems XRP has only regressed this year, experiencing a 1.58% loss, while other leading cryptocurrencies have been thriving.
Despite this, traders still seem to be engaged with XRP. Its trading volume has increased by $10.27 over the past 24 hours to $873.31M.
XRP Price Fails To Break Key Support – Is XRP Crashing?
Although today’s sudden dip following promising momentum could be chalked up to a crash, indicators paint a different picture.
The XRP price appears to have experienced a correction following a failed retest of a key resistance level (white) at $0.4889. This, along with support (white) at $0.4659, has held XRP in a consolidation phase over the past two weeks.
XRP’s next key test will be at the 0.4806 support level (dark green). This will demonstrate whether the altcoin’s correction has ended or if there is further downside ahead.
The “correction” is underscored by the relative strength index (RSI) (purple), which has fallen from 85 to 40 over the past 5 hours. This represents a shift from an overbought state to a neutral one, as buying pressure eases and price movement cools down.
Although an RSI of 40 does air on bearishness, wider trends will provide insight into where XRP is likely to go next
Most importantly, the 30DMA (yellow) is currently trending upwards, while the 200DMA is beginning to show a promising incline for the first time in over 10 days.
This suggests that, despite the correction, BRETT displays strong short-term momentum. Additionally, the overall long-term trend is improving, reinforcing a positive outlook for the asset.
Despite these factors, any upside may be insignificant, given XRP’s proven track record of disappointing price action over the past year. Therefore, it is understandable why traders are seeking more promising opportunities.
Low-Cap Meme Coin Offering High Gains Potential
As the overall market has been complacent in recent weeks, meme coins have displayed resilience with substantial growth. Therefore, traders may find a strategic advantage in exploring meme coins set for explosive growth.
WienerAI ($WAI) is a new meme coin promising more than just a flashy mascot and community hype. It’s an AI companion cited to become “every crypto trader’s Best Friend.”
The meme coin market is over-saturated with animal-themed coins boasting little to no real utility. Something which may credit Weiner AI’s (WAI) recent success, raising almost $7 million in one of the most promising presales right now.
We've just raised $6M
Thank you to our incredible community! Get ready for more exciting adventures with this little Wiener
pic.twitter.com/O6AdG6xrhE
— WienerAI (@WienerDogAI) June 18, 2024
Touted as a “Revolutionary AI Trading partner,” WienerAI is a digital companion that gives its owner user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees.
Around 20% of $WAI’s supply is for staking, and investors are currently earning an impressive 163% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
Keep updated on WeinerAI developments by joining the community on X and Telegram.
The post Is Ripple Price Crashing? XRP Price Drops in Rankings as AI Coin Starts Trending appeared first on Cryptonews.
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Ripple (XRP) Stagnates in Price: More Upside or Downside Threat?
Is Ripple Price Crashing? XRP Price Drops in Rankings as AI Coin Starts Trending
The overall market is complacent despite seeing slight growth following the stir generated by recent Bitcoin wallet movements relating to Mt Gox, and the XRP price has been hit particularly hard.
Notably, XRP has seen modest growth of 0.45% over the past 24 hours after a pullback from its surge in the early hours of this morning.
Although XRP has also seen some gains over the past week, up 1.0%, it has yet to recover from the 6.85% loss it has experienced over the past month.
Looking further, it seems XRP has only regressed this year, experiencing a 1.58% loss, while other leading cryptocurrencies have been thriving.
Despite this, traders still seem to be engaged with XRP. Its trading volume has increased by $10.27 over the past 24 hours to $873.31M.
XRP Price Fails To Break Key Support – Is XRP Crashing?
Although today’s sudden dip following promising momentum could be chalked up to a crash, indicators paint a different picture.
The XRP price appears to have experienced a correction following a failed retest of a key resistance level (white) at $0.4889. This, along with support (white) at $0.4659, has held XRP in a consolidation phase over the past two weeks.
XRP’s next key test will be at the 0.4806 support level (dark green). This will demonstrate whether the altcoin’s correction has ended or if there is further downside ahead.
The “correction” is underscored by the relative strength index (RSI) (purple), which has fallen from 85 to 40 over the past 5 hours. This represents a shift from an overbought state to a neutral one, as buying pressure eases and price movement cools down.
Although an RSI of 40 does air on bearishness, wider trends will provide insight into where XRP is likely to go next
Most importantly, the 30DMA (yellow) is currently trending upwards, while the 200DMA is beginning to show a promising incline for the first time in over 10 days.
This suggests that, despite the correction, BRETT displays strong short-term momentum. Additionally, the overall long-term trend is improving, reinforcing a positive outlook for the asset.
Despite these factors, any upside may be insignificant, given XRP’s proven track record of disappointing price action over the past year. Therefore, it is understandable why traders are seeking more promising opportunities.
Low-Cap Meme Coin Offering High Gains Potential
As the overall market has been complacent in recent weeks, meme coins have displayed resilience with substantial growth. Therefore, traders may find a strategic advantage in exploring meme coins set for explosive growth.
WienerAI ($WAI) is a new meme coin promising more than just a flashy mascot and community hype. It’s an AI companion cited to become “every crypto trader’s Best Friend.”
The meme coin market is over-saturated with animal-themed coins boasting little to no real utility. Something which may credit Weiner AI’s (WAI) recent success, raising almost $7 million in one of the most promising presales right now.
We've just raised $6M
Thank you to our incredible community! Get ready for more exciting adventures with this little Wiener
— WienerAI (@WienerDogAI) June 18, 2024
Touted as a “Revolutionary AI Trading partner,” WienerAI is a digital companion that gives its owner user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees.
Around 20% of $WAI’s supply is for staking, and investors are currently earning an impressive 163% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
Keep updated on WeinerAI developments by joining the community on X and Telegram.
The post Is Ripple Price Crashing? XRP Price Drops in Rankings as AI Coin Starts Trending appeared first on Cryptonews.
Read More