After experiencing a dramatic 27.63% loss in the opening week of November, XRP was able to recover by 16% during the second and third weeks of the month, bouncing off the support level of $0.32. Currently trading at $0.38, XRP is testing the $0.3736-$0.3820 support area and trying to move higher. With the SEC vs. Ripple court decision looming and many new use cases being explored for the project, will Ripple continue to buck the bearish market trend, or return to recent lows?
Ripple Price Prediction and Technical Analysis
Exponential Moving Average (EMA)
At the moment, the price is trading below the EMA 20, EMA 50, and EMA 100 levels, which suggests that XRP could turn bearish in both the short and long term.
Relative Strength Index (RSI)
The Relative Strength Index has been moving between RSI 44.49 and RSI 51.90 for the past several weeks and the RSI is currently at 46.08. XRP should break out of this range and decisively trade above RSI 50 to signal a possible move to the upside.
Moving Average Convergence Divergence (MACD)
Although currently in a bullish crossover position, the distance between the moving averages has been gradually narrowing over the past few weeks as seen from the falling histogram. The moving averages have also started moving sideways, which indicates a neutral position. If it starts pointing down, a bearish crossover could be in the cards.
Ripple (XRP) Fundamental Analysis
Will Ripple Win Against the SEC?
Crypto analyst and influencer Miles Deutscher told his more than 250,000 followers on Twitter last Friday that even though he is not a fan of XRP, he hopes to win his case against the SEC for the benefit of the entire industry.
“If they don’t, there is likely to be a massive impact,” he said. “Anybody expecting them to lose is against crypto.”
If the SEC prevails against Ripple in its allegations that Ripple sold unregistered securities (XRP tokens) to investors, it will have a negative impact on crypto innovation not only in the US, but globally. However, if Ripple wins, it will definitely mean a significant increase in the price of XRP.
Ripple for the Gaming NFT and Carbon Credit Market
In other recent Ripple news, CTO David Schwartz said in a 29 November Interview Although he is still most excited about payments, he also has his eye on carbon credits and gaming NFTs as Ripple use cases.
“There are real problems in the gaming space that NFTs solve,” he said, highlighting that gamers tend to stick to older technology and game titles where their achievements are long overdue, and are more likely to try something new. Can be careful with. “You have to start from zero, and there is that feeling of loss. If you can take the NFT with you, you won’t have that feeling of loss, and you’re more likely to migrate to the game studio that wants you to.” Is.
Schwartz also pointed out that blockchain could solve a number of issues in the carbon market.
“We’re really excited about carbon credits,” he said. “I think just because the fit looks really cool. Right now there is a real problem of origination in the carbon credit space and making sure things don’t get issued like there aren’t two sets of carbon credits.
Other Top Altcoins to Invest In
The power of NFTs and blockchain technology to transform carbon credit markets is not an insight unique to Ripple, with another sustainable crypto project focused 100% on carbon credit trading and climate change mitigation currently garnering a lot of hype in the crypto space. Still working.
IMPT.io (IMPT)
IMPT.io has developed a state-of-the-art platform that rewards users in the form of NFT-based carbon credits. With major brands such as Microsoft, Netflix, Amazon, Macy’s, and Samsung already affiliated with the project, these credits can be sold or retired/burned for unique rewards.
To date, IMPT has raised over $18.7 million in two months and is close to completing its token presale. In these final days of the pre-sale, IMPT is making over $1 million each day and it still looks like it will make a lot more before it expires in a few hours.
The project allows users to support hundreds of environmental initiatives around the world while shopping for everyday items. A specified portion of every sale made on the platform is donated to these projects, allowing buyers to easily support initiatives fighting climate change.
IMPT token will be listed on exchanges at $0.0253, which is 10% higher than the pre-sale price. So far, LBank and Changelly have confirmed listings, with seven more exchange listings in progress.
Dash 2 Trade (D2T)
Another crypto gaining a lot of attention in the crypto community right now is Dash 2 Trade, a cutting edge analytics and trading platform that is set to revolutionize the way crypto traders trade and crypto investors invest.
Amidst the recent FTX scam, Dash 2 Trade’s tools that can help protect people from crypto scams have gained more interest. As a result, the team has announced the first launch and a small token presale for its platform. 665 million D2T tokens were earlier to be sold through 9 stages of pre-sale, but now this number has been reduced to only 262.5 million tokens in 4 stages.
Some of the features offered by the platform include buy/sell signals, social sentiment analysis to identify coins that are being talked about online, on-chain analysis of trending coins, and new strategies. Backtesting tools to try out. Scorecards will also be available for presale cryptos so investors can decide which ones are worth considering.
Most Dash 2 trade operations will require the use of D2T tokens, which is likely to result in high demand for the token. So far, $9.43 million has been raised through the pre-sale and 71% of the tokens have been sold.
Robotera (Tarot)
Another interesting project using NFTs for gaming is Robotera, where players use nft based Robot companions to explore and rebuild Taro’s destroyed planet. With in-game tools, players can create their own robots, work on terrain, and create other assets without any coding knowledge. In addition, there are many opportunities to earn money through search, community events, renting billboards or venues, and hosting events.
The project plans to merge VR and AR into games by 2023, which will make player-created worlds even more interesting. The game has multiple ways for players to contribute to the in-game economy, which gives it the ability to perform well even when the market is weak and sets it up for future success in the next bull market.
To date, Robotera has raised over $481K in sales since its pre-sale launch.
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