XRP Price Rises by 1.5% in 24 Hours, Recovery Expected
The XRP price has increased by 1.5% in the past 24 hours, reaching $0.5227. Although XRP is down by 7% in the last 30 days, it has risen by 3.5% in a week and 30% in a year. The ongoing Ripple-SEC case could lead to a final settlement this year, which may result in a strong recovery for XRP.
Indicators Show Potential Bullish Turn for XRP Price
XRP’s indicators are showing signs of renewed momentum after weeks of decline. The relative strength index (RSI) is close to touching 50, indicating potential incoming gains. Additionally, XRP’s 30-day average looks to have bottomed out in relation to its 200-day average. The trading volume has also increased, suggesting an expansionary period for XRP.
Short-Term Rally Followed by Possible Correction
Larger traders are currently sending XRP to exchanges, indicating that they may be preparing to sell after a brief rally. However, in the longer term, XRP remains in a fundamentally sound position. A final settlement in the Ripple-SEC case and a potential bull market could lead to a strong rise in the XRP price in the latter half of the year.
Exploring Smaller Cap Alts for Potential Rallies
If XRP’s slow rally is frustrating for traders, they may consider investigating newer, smaller cap altcoins that have the potential for big rallies. One example is Sponge (SPONGE), which has launched its second version of the token with improved features and staking model. Sponge V2 has already seen a significant increase in price since listing on Uniswap, and it is expected to list on other platforms soon.
Invest in Sponge V2
Investors can get their hands on Sponge V2 by visiting the official Sponge website or trading it on Uniswap. The token has already shown promising performance and is likely to rally big when listed on centralized exchanges. This presents an opportunity for traders seeking potential gains.
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