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Simon Chandler
Author
Simon Chandler
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The XRP price has slid by 0.2% today, moving to $0.5881 as the wider crypto market falls by 1% in the past 24 hours.
Despite this, XRP remains up by 2% in a week and by 10% in a fortnight, and while the altcoin is down by 1% in a month it sits on an 18% increase in the last 12 months.
And the end of the year may see XRP strengthen, with Ripple expanding testing of its new RLUSD stablecoin, having issued 485 RLUSD yesterday.
This issue follows news that Ripple plans to offer its stablecoin in Japan, while its steady accumulation of new partners also points to positive future growth.
XRP Price Outlook: Ripple’s RLUSD Stablecoin Testing Heats Up – Could XRP See a Boost to $10?
The issuance of 485 RLUSD comes as XRP looks to break through its current resistance level (red), which stands at around $0.592 today.
Based on its other indicators, it has regained some momentum in the past hour or so, with its relative strength index (purple) pushing up to 50 as of writing.
We also see its 30-period moving average (orange) remaining elevated above its 200-period average (blue), another sign that it remains in a medium-term phase of expansion.
Based on this, we might see the XRP price recover from its minor dip today to reach $0.60 in the next week or so.
It’s possible that today’s fall followed from a recent whale deposit to Bitstamp, although the past 12 hours haven’t see significant transfers in either direction.
And looking at the bigger picture, XRP has plenty going for it, with Ripple’s planned launch of its RLUSD stablecoin getting closer.
As mentioned above, yesterday saw Ripple issue 485 RLUSD as part of its tests for the token.
It began beta testing the stablecoin in early August, with the coin running on both XRP Ledger and Ethereum.
This will give it wide application, and given Ripple’s preexisting status as a network for cross-border transactions, RLUSD could become a big rival to other stablecoins once it launches.
It plans to launch first in Japan, pending regulatory approval, and then follow elsewhere, with the stablecoin targeting institutions.
While future adoption of RLUSD may not have direct implications for the XRP price, it will nonetheless boost the wider Ripple ecosystem, indirectly helping XRP.
As such, the latter may reach $1 by the end of the year, and $3 by Q2 2025.
New, Small-Cap Alts Can Show More Upside
As strong as XRP’s fundamentals are, it’s likely to remain a steady climber for the foreseeable future, so traders hunting quicker gains may have to look elsewhere.
One promising avenue involves presale coins, which often create lots of momentum before listing on trading platforms.
One token doing just this is Memebet Token (MEMEBET), an Ethereum-based cryptocurrency that has raised $285,000 in its recently launched offering.
Memebet is set to combine its own meme token with an online crypto-friendly casino, which will offer more than 1,000 games to play and a wide-ranging sportsbook.
Users will be able to place bets with the native MEMEBET token, as well as with established coins such as Pepe, Dogecoin, Bonk and Shiba Inu.
By placing bets with MEMEBET, holders will be able to receive greater play-to-earn rewards, with 20% of the coin’s overall supply – of 2 billion MEMEBET) – reserved for payouts.
In addition to a web-based platform, Memebet will also run a KYC-free Telegram casino, making it easy for anyone from around the world to join the fun.
It’s also encouraging to note that Memebet has a healthy following online, with its X account now reaching close to 14,000 followers.
Investors can get involved in the sale now by going to the official Memebet Token website, where MEMEBET costs $0.0254 per token.
This price will rise by $0.001 with every new stage of the sale, while it could easily rise much higher once it lists on exchanges.
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.
