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Simon Chandler
Author
Simon Chandler
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The price of XRP has jumped by 8% in the past 24 hours, rising back to $2.31 as it repairs some of the damage of yesterday’s market-wide selloff.
The alt remains down by 9% in a week and by 17% in a month, yet its 330% annual gain is one of the best of any top-100 token.
And its rebound today has arrived at just the right time, avoiding a potentially damaging fall below the psychologically important $2 resistance level.
It may remain subdued for the next few days or even weeks, yet progress in avoiding or removing recent US tariffs may help improve its long-term price prediction significantly.
XRP Chart Flashing Bearish Signals – Is a 30% Crash to $1.50 Next?
While XRP’s situation became almost desperate yesterday evening, it has escaped another big selloff today.
We see its relative strength index (purple) rebound from just under 30 overnight to just over 50 today, a sign that some investors are happily buying the dip.
XRP’s 30-period average (orange) also creates this impression, given that it has flattened out today, suggesting a bottom.
And while there has been lots of selling in the past few days, there has been some buying, with one whale withdrawing 20 million XRP from Gemini on Sunday.
This highlights how buyers remain interested in the coin, despite recent dips and dives, which have stemmed from wider macroeconomic factors.
Most notably, the market has responded very negatively to US President Donald Trump’s confirmation that tariffs against Mexico and Canada would indeed come into effect next week.
This has been the major pull factor on prices, which have also been hurt by recent US inflation figures and the Fed’s lack of urgency in reducing rates.
Yet XRP’s fundamental situation remains unchanged and largely positive, with the coin looking forward to the increasingly likely approval of XRP ETFs.
Ripple also has the end of its case with the SEC to look forwards to, with the odds of a favorable settlement increasing after the regulator dropped its case against Coinbase last week.
Based on such factors, the XRP price is likely to return to $2.50 at some point in the next quarter, with an easing in the tariff situation helping to bringing it back up to $3 by H2.
New Altcoins May Bring More Positive Volatility
But while XRP remains static, many traders prefer to diversify into newer alts in the meantime, given that the best smaller cap tokens can often outperform the market, especially during bearish periods.
One of the most promising new coins right now is Best Wallet Token (BEST), which has raised in excess of $10 million in its increasingly popular presale.
As its name suggests, BEST is the native token of Best Wallet, one of the most popular software wallets in crypto.
Having launched in 2023, Best Wallet now serves upwards of 250,000 monthly active users, while also being compatible with more than 50 cryptocurrencies.
Because BEST will be the utility token of an already popular app, it should experience considerable demand when it launches in the next few weeks.
Holding BEST will confer numerous benefits upon Best Wallet users, including discounts on fees, increased staking yields, and early access to new airdrops and presales.
What’s also bullish is that Best Wallet now has over 50,000 followers on X, a sign of how big BEST could become.
Investors can buy it at a discount by going to the Best Wallet website and linking their crypto wallet (including Best Wallet itself).
BEST is currently selling at $0.024125, but it will continue to rise for as long as the sale lasts.
