Ripple Investors Exit as XRP Fails to Rally Above $0.65
The XRP price has faced repeated rejections at the $0.65 mark, causing panic among investors and prompting them to seek opportunities elsewhere.
This article will provide an analysis of XRP’s current price trends and look to see whether an innovative new meme coin represents a more promising investment opportunity at this time.
After years of consolidation $XRP might finally show us the rally: pic.twitter.com/X6grHg3NP7
— Yoddha (@CryptoYoddha) July 23, 2024
Despite localized rejection from $0.65, zoomed-out XRP holder sentiment remains persistently bullish despite traders across the space crying out at holders to rotate their capital into stronger plays.
As the XRP price tumbles locally, Ripple is currently trading at a market price of $0.60 (representing a 24-hour change of -0.95%).
This comes following rejection from an overhead resistance layer at $0.65 – which stopped upside movements in their tracks at $0.623 – before XRP price tumbled down below 20DMA support.
Now fighting to consolidate a foothold, the 20DMA forms a second layer of upside resistance, leaving Ripple holders targeting a move up to $0.61 on the short-time frame.
Yet, the question remains whether Ripple price has the strength to push up once more, as the RSI indicator flags struggling momentum – with an increasingly bearish reading even before testing 20DMA resistance.
This indicates a lower trip is likely, with XRP price likely to touch down at $0.575 – a disappointing move for loyal holders.
Yet, despite XRP souring on the short-time frame, an incredibly strategic play has emerged in the Pepe Unchained (PEPU) presale – which is rapidly gaining traction in what many are labeling as the biggest meme coin play of 2024.
Already standing strong at a jaw-dropping
