Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
XRP Price Prediction As Ripple Co-Founder Chris Larsen Pledges Another $10M To Kamala Harris Campaign, And Analysts Say This ICO Could 100X

XRP Price Prediction As Ripple Co-Founder Chris Larsen Pledges Another $10M To Kamala Harris Campaign, And Analysts Say This ICO Could 100X

InsidebitcoinInsidebitcoin2024/10/22 15:29
By:Insidebitcoin

The XRP price dropped 1% in the last 24 hours to trade at $0.5447 as of 03:32 a.m. EST on trading volume that rose 24% to $1.1 billion.

This comes as Chris Larsen, the co-founder and executive chair of payments firm Ripple, donated $10 million in XRP to a Political Action Committee (PAC) supporting Democratic presidential candidate Kamala Harris.

Records from the  Federal Election Commission show that the Ripple executive had previously donated $1.75 million to the PAC.

XRP Price Aims For A Breakout

The XRP price action has transitioned from a bearish to a sideways/consolidating movement. This can be observed after the significant drop in early October following a rounded top pattern within the $0.65 resistance.

The price has been moving horizontally, consolidating within the $0.55 and the $0.52 range, according to data from GeckoTerminal .

However, the price of XRP now trades below both the 50-day and 200-day Simple Moving Averages (SMAs), supporting the recent downtrend.

The Relative Strength Index (RSI) is at 47.89, which is in the neutral zone (30-70). This indicates neither overbought nor oversold conditions. It reinforces the view that the market is in a consolidation phase. If RSI moves closer to 30, it would indicate oversold conditions, potentially signaling a buying opportunity.

A breakout from this consolidation zone with increased volume could signal the next big move. In this scenario, the XRP price could surge to the next resistance at $0.65.

XRPUSD Chart Analysis Source: GeckoTerminal.com

However, if the bears take control of the price at this level, the price of XRP could plunge slightly to $0.52 as it keeps moving within the sideways pattern.

As the XRP price bulls search for more buying signals, new meme coin Crypto All-Stars (STARS) has blasted past $2.5 million in its presale.

99Bitcoins, a crypto channel on Youtube with over $706K subscribers, says $STARS has the potential to soar 100X after its launch.

Crypto All-Stars Presale Heads For $3 Million

Crypto All-Stars is off to a roaring start in its presale, having already raised over $2.59 million. The project’s fundraising efforts show that investors are eager for the launch of the industry’s first platform that enables investors to stake multiple meme coins in one place.

There will be 11 meme coins that can be staked on Crypto All-Stars from launch, with rewards earned in STARS tokens: Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.

You can also earn passively through the project’s native staking mechanism, which offers an impressive 585% annual percentage yield (APY) on STARS tokens.

You can buy the token now for $0.0015188. The price will increase in less than 3 days so don’t wait too long to lock in the best deal.

Purchase $STARS from its official website here using BNB, USDT, or a bank card .

Related News

  • Best Cheap Crypto to Buy Now In 2024 – Low Cost Coins
  • A How-To Guide on Buying Cryptocurrency Safely in 2024
  • Is It Too Late To Buy GOAT? Goatseus Maximus Price Soars 182% In A Week And This Might Be The Next Crypto To Explode
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!