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Junior Content Creator
Harvey Hunter
Junior Content Creator
Harvey Hunter
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Over the past 24 hours, the XRP price has remained moderately unphased after some fluctuation, holding steady with a 0.08% gain.
Meanwhile, a technical pattern brewing since March 2020 is on the cusp of a breakout.
Indeed, this negligible movement is a step back from the Fed rate cut-fueled growth observed last week, with XRP retaining just a 0.53% gain since last Tuesday.
However, this may indicate that XRP has corrected and found its footing following significant volatility.
Although XRP may not be as hot right now, with its trading volume down another 3.17% to $909.3 million over the past 24 hours, stability may be what the altcoin needs before its next move.
4-Year Triangle Breakout Nearing: How Far Can XRP Price Rise?
A closer look at the XRP price chart reveals that technical indicators have become increasingly bullish, in favor of an upward breakout from the 4-year symmetrical triangle pattern.
Most significantly, it seems that XRP has found comfort in its new bullish lean, as its Relative Strength Index (RSI) remains firm in its position above the neutral line, currently at 60.
Although this is neutral, it exhibits a strong bias towards buying pressure.
This sentiment is mirrored by the Chaikin Money Flow (CMF), which is gradually moving away from negative territory week on week.
It is now at -0.06, just half of what it was at the start of the month.
Meanwhile, as the MACD line maintains a comfortable lead above the Signal line, it seems that bulls are in control, making a breakout in the near term credible.
Despite this correction, XRP has decisively maintained its position above the 200EMA support after reclaiming it at $0.52, a strong demand zone since early July.
For the XRP price to continue its upward trajectory, the price must break the $0.60 level and reclaim the 200 SMA as support.
A clean break above these levels would signal the potential for a larger rally and a shift in market sentiment.
The extent of such a move could trigger a 225% rally in the coming months, reclaiming the past high of $1.97.
However, with fundamental catalysts stacking up for cryptocurrency space and Ripple honing in on the stablecoin and custody market, the potential for even further growth is considerable.
This Fleeting Opportunity Could Rally Twice As Hard
Although a $2 XRP is certainly an appealing prospect, emerging opportunities hold the potential for truly substantial gains.
Strategic investors may find an advantage in diversifying into newer low-cap meme coins that have the potential to rally exponentially.
The most prominent of which is a new Solana GameFi token Mega Dice ($DICE) the native token to the Mega Dice platform – a top brand in the crypto casino domain, boasting over 10,000 active players monthly and exceeding $50 million in monthly wagering.
The platform offers utilities such as casino cashback, airdrop rewards, and NFT perks for holders. Something that may be credited to its instant success, raising over $1.8 million in its presale so far.
But this opportunity is fleeting. With a launch date on the DEX Radium set for September 30th, there is a very real chance that once DICE hits exchanges, it may never be this low again.
The team looks to the success of Rollbit ($RLB) as a baseline. Given its superior feature set, $DICE buyers are confident that Rollbit’s peak 8,000% return for its early investors is more than achievable.
As the GameFi industry surges forward, crypto gambling emerges as one of its fastest-growing and most innovative subsectors, boasting an estimated market value of $250 million in 2023.
Join the Mega Dice community on X and Telegram to stay up to date on the latest announcements.
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.
