The XRP price is up 10% in the last day, pumped by a 135% increase in 24-hour trading volume. It is trading for $0.6798 as of 2:02 a.m EST, after the remittance token escaped from the consolidation phase, a zone extending from the $0.4735 support floor to $0.5392.
The odds continue to favour the upside for XRP, but watch this GambleFi new boy for potential exponential gains.
XRP Price Has Bullish Fundamentals
XRP boasts a position among the few assets with regulatory clarity after Ripple’s victory against the US Securities and Exchange Commission (SEC). The financial regulator’s failure to beat the appeal deadline only served to solidify the victory for the XRP community. It pointed to the commission capitulating and had experts such as lawyer Jeremy Hogan saying the case was effectively over.
— JackTheRippler ©️ (@RippleXrpie) November 6, 2023
Meanwhile, the surge in XRP comes as Ripple dominates the crypto trading landscape in South Korea. It has outperformed even the leading cryptocurrencies, Bitcoin and Ethereum, and most of the altcoins on metrics of trading volumes on one of South Korea’s largest exchanges, Upbit.
Citing an excerpt from recent research by Kaiko, “South Korean millennials favor Ripple’s XRP over Bitcoin and Ethereum.” Notably, the research also aligned with findings from a CNF report.
The uptick for Ripple price began on Sunday and could continue through the new week as technical indicators show promise. However, a lot hinges on how the XRP holders play their hand from here on out.
— Ci$o (@CisoMusic) November 6, 2023
XRP Price Forecast With Technicals Looking Promising
After a 10% surge in the last day, the Ripple price still shows resolve to continue the uptrend that commenced in mid-October. Thus far, the remittance token boasts almost 45% in gains, with the price action defined by higher highs and higher lows.
Increased buying pressure could see Ripple price break past the 40.6968 resistance level, which was last tested in early August. A break above this level could set the tone for a stretch to the supply zone. The supply zone is an order block where rice tends to correct because of massive selling pressure. In the daily chart for the XRP/USDT chart, it extends from $0.7771 to $0.8199.
For a confirmed uptrend, Ripple price must record a decisive daily candlestick close above the midline (Mean threshold) of the supply zone at around the $0.8000 psychological level. This could see XRP flip this order block into a bullish breaker as it aims for the $0.8500 resistance level, or in a highly bullish case, extend to the range high at $0.9380. Such a move would constitute a 40% climb above current levels.
The Relative Strength Index (RSI) is above the 50 level, sustaining an overall uptrend to show more bulls are still coming in. The Awesome Oscillator (AO) in the positive territory with deep green histogram bars support the outlook, showing bulls are leading the Ripple market.
On the other hand, considering the position of the RSI above the 70 level, at 85, it shows XRP is massively overbought. With this, a correction may be imminent for Ripple price and traders should not be surprised.
This stance is also plausible considering Bitcoin price is showing signs of a pullback with multiple sell signals, worsened by a lack of positive ETF-related news. In this regard, it is worth noting that BTC’s correlation with XRP is positive, which means a pullback in Bitcoin could bring Ripple price down along with it.
A rejection from the $0.6968 resistance level could see Ripple price lose all the ground covered since the weekend, testing the $0.6242 support level. Further south, the slump could send XRP below the $0.5705 support level or lower into the consolidation phase between $0.4735 and $0.5392. In the dire case, the load-shedding exercise could culminate in a fall to the multi-month low of $0.4454. Such a move would denote a $35% fall below current levels.
This explains why enlightened investors are already looking at TGC, a new Telegram Casino project by crypto startup Jim Studios, who launched TGC as a Plinko gambling product.
Promising Alternative to XRP
Featuring among the top three cryptocurrency presale experts’ tips for November’s high profit potential, TGC is the sure fire XRP alternative. It is the powering token for the TG.Casino ecosystem, providing enthusiasts with an exclusive place for online, anonymous crypto gambling.
The $TGC presale is live – your golden ticket to exclusive rewards and benefits from casino profits.
Don’t miss out!
⭐️What’s Live from https://t.co/1CivTnIx4Z⭐️
⏰ Token Presale
💵Token Staking for Rewards
⌛️ Coming Next⌛️
📢 Huge Marketing
🪙Token Launch pic.twitter.com/TdHvbI7GV1
— TG Casino (@TGCasino_) September 29, 2023
So far, the project has already raised a staggering $1.731 million, constituting almost 70% of the $2.5 million target. Join the community of forward-looking investors who buy TGC at just $0.15 using ETH or Tether (USDT) stablecoin.
We have just reached $1.7 million raised in presale for $TGC 🎊
LFG players! We have some exciting things coming this week🤫 pic.twitter.com/uSDU3XEkv9
— TG Casino (@TGCasino_) November 5, 2023
As a testament to the popularity of the TGC project, TG.Casino has garnered more than 10,000 followers on crypto X, and counting.
TG Casino is just cruising past milestone after milestone this weekend🌟
Thank you to each and every one of our 10k followers here on X🙌 pic.twitter.com/BV5i2nfolQ
— TG Casino (@TGCasino_) November 5, 2023
The project is fully licensed and does not require any KYC processes whatsoever, giving every participant the freedom to play without giving out their information.
Visit TG.Casino to buy TGC token in the presale here.
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY