The has risen by 1.2% in the past 24 hours, climbing back to $0.494007 on a day when the wider cryptocurrency market has also recovered a little from last week’s damage.
XRP remains down by 1% in a week and by 5.5% in the past fortnight, with the altcoin holding onto a 45% gain since January 1, in line with several other major tokens (e.g. BTC, ETH, SOL).
Given how oversold XRP has been in recent weeks, it’s highly arguable that today’s small recovery marks the beginning of the an overdue turnaround in the altcoin’s fortunes.
And with XRP’s fundamental position remaining as strong as ever, it could be in line for a big recovery once the wider market becomes more bullish in the coming weeks.
XRP Price Prediction as Price Sees 1.19% Increase in 24 Hours: Time to Buy or Just a Fluke?
XRP’s indicators are in a position from which assets can often bounce back strongly, with the coin’s relative strength index (purple) beginning to rise towards 50, after several days spent in an oversold region.
While XRP’s 30-day exponential moving average (yellow) hasn’t turned positive yet, its position below the token’s 200-day average (blue) would imply that the recent downturns have bottomed out.
This view is also boosted by XRP’s medium-term support level (green), which has been rising for several weeks, with the coin’s current price leaving it behind quite rapidly in the past couple of days.
This all suggests that XRP’s momentum is beginning to increase again and that the token may be on the cusp of a much-needed recovery.
Yet recent whale action may suggest that XRP remains in a selling phase, with the overal bearish of the cryptocurrency market still potentially dragging the coin down in the near future.
Either way, XRP’s future continues to look highly positive, given that its status as not a security was recently upheld by US District Judge Analisa Torres, who earlier this month her decision in July that Ripple’s sales of XRP on exchanges were not sales of securities.
While the Ripple-SEC case does have to go a full trial on the matter of executive culpability, the past two big decisions would arguably stand in Ripple’s favor, suggesting that the securities regulator is not going to get much, if anything, out of its crusade against the cryptocurrency firm.
For this reason, XRP’s long-term prospects remain very good, with the coin on course to return to higher levels in the coming months, particularly if the market becomes more bullish around the end of this year and the start of the next.
It could reach $0.60 or $0.70 by the end of December, with the arrival of bull market potentially pushing it much higher later on.
Other Altcoins With High Potential
The only thing with XRP is that it may take several months for the altcoin to recover its former levels, with the market potentially waiting for the resolution of the full trial between the SEC and Ripple before buying into XRP in a big way.
For this reason, many investors may opt to look at newer altcoins in the meantime, with the market currently boasting a handful of highly promising presale tokens, which could rally big once they list on exchanges.
One of these is that operates on popular social messaging app Telegram.
What’s particularly bullish about TG.Casino is that it has already launched its online casino, something which has likely helped the sale for its native TGC token raise $1 million already.
Given that this sale has been running for only a few weeks, this figure is highly encouraging, suggesting that investors are truly coming on board with TG.Casino’s vision of a decentralized, on-chain casino that’s also based largely on Telegram.
By operating and announcing/organizing games through Telegram, TG.Casino has already been able to build a healthy community of users and supporters, and it’s likely that this community will only grow bigger as the sale progresses.
As a casino, the platform already offers a wide – and regularly expanding – roster of games, including Titan, Razor Returns and a variety of classic casino games.
Its native token, TGC, will have a total supply of 100 million, with 40% of this total going to the presale, 20% to staking rewards, and 10% to gaming rewards.
Holding the coin will also provide users with 25% cashback on any losses they incur while playing with TG.Casino, with the ability to stake the token making it doubly profitable.
Investors can join the coin’s presale by going , with 1 TGC costing $0.125, although this will increase at various stages during the offering.
Of course, with the platform already up and running and attracting more users, TGC’s price could rise much higher once it becomes tradeable in the next few weeks.