XRP is the sixth-largest cryptocurrency by market capitalization and has been on a roller coaster ride in the past year. With its price going up and down, many investors are wondering what the XRP price prediction will be and if can it reach the $5 mark this year.
In this article, we will look at the factors that could affect XRP’s price and make a prediction of whether it can reach $5 or not.
Ripple’s lawsuit with the SEC has been a source of uncertainty for XRP holders. CEO Brad Garlinghouse is optimistic that a resolution could be determined this year or early 2023. Despite the lawsuit and the bear market, XRP, Ripple’s native token, has been attempting to remain strong.
Despite seeing fluctuations in XRP price, large crypto investors (aka whales) are still interested in XRP tokens.
Whale Alert Discovery: How A Recent XRP Move Could Impact The Crypto Market
Whale Alert, a provider of on-chain data, reported that several whales have transferred large amounts of XRP recently. On January 27th, a transfer of over 160 million XRP tokens occurred between two unidentified wallets, amounting to a value of more than $65.53 million according to the current cryptocurrency market prices reported by the data provider.
On January 26th, Whale Alert reported a huge movement of 39.5 million XRP tokens from Bitso to an unidentified wallet. According to the current market value, these tokens are worth an estimated $16.2 million. A noteworthy amount of XRP tokens have recently been moved from unidentified wallets to crypto exchanges.
For instance, 30 million XRP coins ($12.41 million) were sent from an undetermined wallet to Bitso and 33 million tokens ($13.65 million) were transmitted from a mysterious wallet to Bitstamp.
According to Whale Alert, large investors seem to be acquiring more XRP tokens despite its declining price. For example, one whale invested around $12.19 million to purchase 30 million XRP from Bitso while another purchased 40 million worth approximately $16.2 million recently.
XRP Price Prediction
As of today, the XRP token has a live market price of $0.4120 with a total trading volume of $472 million in the last 24 hours. It has experienced a price rise of 0.24% and is currently ranked 6th on CoinMarketCap with a market cap of around $20 billion.
The XRP/USD has been struggling under the $0.4150 level while gaining support near $0.4045. In case of a bearish breakout of the $0.4045 support zone, Ripple can slip further until the next support areas of $0.4045 or $0.3965.
Leading technical indicators such as MACD and RSI are trading in a buying zone, indicating that the market is currently in a strong buying trend. In addition, a bullish breakout of the $0.4160 level could expose a ripple toward the $0.4260 level.
Top Cryptocurrencies With Potential For Profits
As the crypto market grows, so does the attention of investors to altcoins. Investing in these coins can be quite lucrative for those who get in early as they can collect coins before their official release.
Currently, there are a few altcoins that have been making headlines and garnering interest from investors.
Fight Out (FGHT)
Fight Out is a simple and inexpensive method to remain active. You can receive access to experienced personal training services at a reasonable cost by acquiring their FGHT tokens, allowing even those on a tight budget to reap the advantages of exercise.
The FGHT presale was a smashing success, raising $3.50 million. All avatar-related behaviors have been documented, giving you a great reference to judge your actions against. You only have a short time left to earn 60.06 FGHT for every $1 spent (in ETH or USDT).
Furthermore, the market prognosis shows that FGHT prices will grow as the sale progresses, so act immediately to take advantage of this chance.
C+Charge is introducing a revolutionary blockchain-powered payment mechanism for EV owners. Users will obtain carbon credits when they make their initial charge, with the ultimate goal of drastically lowering greenhouse gas emissions.
This revolutionary technology has the potential to totally disrupt the long-established carbon credit market, which has been dominated by a tiny group of individuals. It levels the playing field and allows many businesses to participate in this industry.
By 2030, the Voluntary Credit Market (VCM) market is anticipated to be worth $100 billion. C+Charge, a market leader in this field, is leading the way, having successfully raised over $439,900 during its pre-sale, demonstrating that the business is fast developing.
Meta Masters Guild (MEMAG)
The Meta Masters Guild has skyrocketed to $1.8 million in just a few days. This remarkable rise indicates that the public has a high level of confidence in the company’s future growth and profit-generating ability.
In the third quarter of 2023, Meta Masters Guild will release its first mobile game. MEMAG, their own coin, allows users to exercise governance powers, engage in staking activities, and purchase network items and NFTs.
They also want to create play-to-earn and Web3 games to deliver even more engaging gaming experiences. Early investors have a limited time to participate in the MEMAG sale, which currently offers 1 MEMAG for $0.01.
This price, however, is expected to grow in less than two weeks, so potential buyers should act quickly if they want to receive the currency at the lowest possible price. Don’t pass up this great deal with seven phases!