The has gained by a very slight 0.2% in the past 24 hours, as speculation emerges that Ripple is preparing for a possible initial public offering in the US.
Such rumors emerged after observers noticed , a role which would imply that the cryptocurrency firm is seriously planning for an incoming IPO.
This would be big news for XRP, although the altcoin has barely moved today, with its current price of $0.489862 also representing a 0.5% rise in a week.
Yet given how unjustifiably oversold the altcoin has been recently, it’s likely to make a big recovery soon enough.
XRP Price Prediction as Rumors Emerge of Possible Ripple IPO – Could XRP Reach $100?
XRP remains in a weakened position as far as its indicators are concerned, yet the flipside of this is that it’s becoming increasingly likely that a rebound will follow soon.
For one, its 30-day exponential moving average (yellow) dipped below its 200-day average (blue) more than a week ago, with the distance between the two now suggesting it’s due to rise again.
It’s a similar thing with XRP’s relative strength index (purple), which remains close to 40, another sign that the coin has been sold too much recently and is selling at a discount compared to recent levels.
In other words, XRP’s discounted price should make it more attractive to buyers, who are likely to swoop in sooner or later to take advantage of its low price.
It’s also worth pointing out that its support level (green) has been rising modestly in recent weeks, implying that it may have bottomed out and is now ready to mount a recovery.
Of course, such a recovery is dependent on some positive spark, with the news of Ripple’s IPO-related job listing having little effect right now on demand for XRP.
Still, what this posting indicates is that Ripple isn’t far away from announcing its own US-based IPO, and when it does XRP is going to surge.
This means that now is probably the perfect to buy XRP cheap, before it returns to $0.60 or higher.
And in the longer term, it’s going to exceed such prices, with an IPO likely to give Ripple to resources and backing to expand its business more aggressively.
This can only be good for XRP, which is used as part of Ripple’s core cross-border transfer business.
For this reason, XRP can be expected to reach $1 again in the first few months of next year, before potentially rising towards $2 in the months that follow, especially if crypto enters another bull market.
New Altcoins With Strong Fundamentals
XRP is arguably one of the strongest coins in the market in terms of fundamentals, yet it isn’t the only potentially profitable altcoin around right now, with a number of newer tokens also showing plenty of promise.
One of these is , a tokenized cloud mining platform that has raised more than $1.7 million in its presale, which has been running for only a few weeks.
This is an impressive figure for a new project, which has been attracting investors by virtue of its unique concept.
Namely, Bitcoin Minetrix will enable its users to mine Bitcoin (BTC) by staking its native BTCMTX token, which provides holders with tokenized mining credits that can then be used to access Bitcoin hashpower.
By doing this, users who stake enough BTCMTX will be able to earn newly minted BTC in return, which will come in addition to newly minted BTCMTX (which they’ll receive for staking).
This means that BTCMTX could be a highly lucrative token to hold, especially if Bitcoin Minetrix as a platform attracts enough adoption and thereby causes the token’s price to rise.
Yet investors can buy it at a discount now by going to the , with the sale making 1.4 billion BTCMTX available (out of a total of four billion).
1 BTCMTX currently costs $0.01110 and will climb to $0.01190 by the sale’s tenth and final stage, at which point it will list on exchanges and possibly rise even higher.