XRP has overtaken USDC as the fifth-biggest cryptocurrency in the world in terms of market cap, with the altcoin’s price rising by 2.5% in the past week.
At $0.509616, XRP is down by 1.5% in the past month, yet it remains up by 50% since the beginning of the year, helped by Ripple’s largely positive outcome in its case with the SEC.
And given that XRP has declined in the past few weeks mostly because of market-wide negativity, it’s positioned nicely to rise up again in the near future.
XRP Price Prediction as XRP Overtakes USDC and Becomes Top 5 Coin in the World – Can XRP Reach $100?
XRP has been slowly gaining some much-needed strength this week, with its indicators beginning to look more promising, as if the altcoin is on the brink of a significant recovery.
Its relative strength index (purple) has climbed up to 50 and looks as though it could easily rise higher (taking the coin’s price with it), given that it has spent around a month close to 30.
In addition, XRP’s 30-day moving average (yellow) has leveled off after falling below its 200-day average (blue) more than a week ago, indicating that the coin has bottomed out and that buyers are ready to take advantage of its discounted price.
This interpretation is supported by the token’s support level (green), which has been rising steadily over the past week or so, again indicating that the recent downturn is over that XRP is ready to appreciate again.
Encouragingly, recent data suggests that whales have begun accumulating XRP again, meaning that the coin is likely to stop falling and isn’t too far from renewed growth.
Such purchases would help account for XRP’s joy over the past few days, yet the coin’s strong fundamentals would indicate that more gains are in store in the near future.
Indeed, Ripple has continued to expand it business now that it has its case with the SEC mostly behind it, with the company signing partnerships with the Republic of Palau in recent months and with the Rocky Mountain Institute.
This points to a future where XRPLedger and XRP are widely used, something which can only help the latter’s price in the longer term.
With this in mind, XRP can be expected to return to $0.60 in the next few weeks, before seeing out 2023 at around $0.75 or $0.80.
High-Potential Altcoins For High Returns
XRP may be one of the strongest altcoins in the market, but it isn’t the only promising alt, while it’s also worth remembering that its gains may be gradual, especially with the market remaining subdued.
As such, traders in pursuit of quicker gains may prefer to look at newer altcoins, particularly presale tokens that are expecting to list – and rally – very soon.
At the top of the list of such coins is Wall Street Memes (WSM), an ERC-20 meme token that has raised over $25 million since kicking off its sale in the summer.
Wall Street Memes is a product of the meme stocks movement, which was famously responsible for the 2021 GameStop and AMC rallies, shocking the stock market and world of traditional finance.
It’s because of its links with this movement that Wall Street Memes already has a strong community around it, something which will prove vital if it’s to have a long lifespan as a meme token.
Indeed, its Twitter page now has 277,000 followers, a number that comfortably exceeds the communities of most new meme tokens.
In terms of tokenomics, WSM will have a total maximum supply of 2 billion, with 50% of this going towards its presale and another 30% being reserved for community rewards.
These rewards are likely to incentivize greater engagement on the part of its community, which again will help keep the token in the pubic eye and which, in turn, will help its price.
But as promising as WSM sounds, investors now have only three days to join the presale, before the token lists on a variety of exchanges.
They can do so by going to the official Wall Street Memes website and connecting their software wallets.
1 WSM costs $0.0337, yet this is likely to rise steeply once the token is added to exchanges next week.
Visit Wall Street Memes Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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