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Simon Chandler
Author
Simon Chandler
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The XRP price has dropped by 2% today, slipping to $0.5556 as the crypto market loses a hefty 5% in 24 hours.
But delisted also being down by 2.5% in a week, XRP remains up by 18.5% month, helped along by Ripple’s settlement with the SEC and with the upcoming launch of its very own stable coin, RLUSD.
In fact, Ripple CEO Brad Garlinghouse has revealed today that the launch of RLUSD – which is currently in private beta – is now only weeks away.
While the 1:1 USD-backed stablecoin won’t boost usage of XRP directly, it will help bring users into the wider Ripple ecosystem, which could have long-term advantages for the coin’s price.
XRP Price Forecast: Ripple’s RLUSD Stablecoin Launch Could Trigger Major Price Move
XRP had a poor end to August, but it has now moved into a position where it should rebound quite strongly.
Its RSI has been below 50 for much of the past fortnight, but this morning it bounced from the oversold position of 30 to around 45.
While its 30-period moving average (orange) isn’t doing too much right now, it has been below the 200-period average (blue) for well over a week.
This is further evidence that a recovery is on its way, and we may actually see a big move once XRP’s resistance (red) and support (green) levels meet.
Such a collision could occur soon, with XRP’s trading volume still remaining relatively healthy for an underperforming asset, at around $1.1 billion today.
Yet we haven’t seen a big whale purchase in nearly a month, with most large traders likelier to sell the token right now.
Yet there are fundamental reasons for thinking the XRP price will recover.
One reason is Ripple’s imminent launch of its RLUSD stablecoin, which the firm has pegged to the US dollar and backed with US dollar deposits, short-term US treasuries and other equivalents to liquid cash.
With the stable coin market dominated by Tether’s USDT and Circle’s USDC (which have both had issues of varying sorts), Ripple’s standing in the industry could help it secure a significant chunk of the stablecoin market.
And by extension, this may boost XRP users in the long term, while Ripple’s continued growth in the wake of its SEC case will also boost adoption.
When combined with a potentially resurgent crypto market from October (after Fed rate cuts), the XRP price could certainly rise strongly.
It may reach $0.7 by November, and $0.85 by the end of the year.
Bigger Gains with New Small-Cap Alts
Traders unconvinced that XRP is going to do anything significant may prefer to prioritize newer alts, particularly high-potential and viral tokens that may outpace the market.
It’s notoriously difficult predicting which no-name coin is going to do this next, but one way of narrowing the possibilities is to look for successful presales.
And probably the most successful ongoing sale at the moment belongs to layer-two project Pepe Unchained (PEPU), which has now raised over $11.8 million.
Pepe Unchained will launch a L2 network for Ethereum, providing virtually instant transactions and competitively low fees.
Its long-term goal is to become an ecosystem for meme tokens, potentially attracting usage away from Solana and other L2 platforms.
Helping it do this will be the fact that, owing to its greater efficiencies, it will offer double the staking rewards it would have as a layer-one meme coin running directly on Ethereum.
This will provide greater incentive to hold PEPU, while its utility as the payment coin for transaction fees will also magnify adoption.
As a coin, it will have a max supply of 8 billion PEPU, with its protocol allocating 30% to staking and 20% to its presale.
Also encouraging is the coin’s growing community, with its official X account boasting over 12,000 followers.
Read More: Pepe Unchained Price Prediction
Investors can join PEPU’s sale at the coin’s official website, where they can buy PEPU using either ETH, BNB, USDT or fiat currency.
It’s now selling at $0.0094982 per token, although this will rise fractionally in a day and a half.
Interested parties should therefore move quickly if they want to buy the alt at a lower price, especially when its popularity suggests it could rally big upon listing.
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.
