XRP Price Movement: Analyzing Concerns; Altcoins Like Ethereum and NuggetRush Skyrocket
The post XRP Price Movement: Analyzing Concerns; Altcoins Like Ethereum and NuggetRush Skyrocket appeared first on Coinpedia Fintech News
TLDR
- Ripple faced glitches after launching its ledger and AMM, causing speculation.
- Ethereum is recovering to $4,000 amid market decline and anticipation for ETFs.
- NuggetRush, a DeFi gaming platform, surged in presale, promising high returns with its P2E model and NFT integration.
Ripple (XRP) launched its long-awaited ledger, followed by the release of its Automated Market Maker (AMM) last month. Despite the hype surrounding the developments, the Ripple ledger suffered a glitch shortly after sparking multiple speculations. XRP has traded without volatility for over nine months, so with its current position inside a support level, analysts advise paying close attention to developments concerning the Ledger issue.
Normally, the AMM is supposed to deliver passive income to Ripple users who provide liquidity. Unfortunately, the Ripple team found out that some AMM pools were working. Although they’ve not found a fix yet, XRP has continued pushing up along a support trendline since the year started. The line has been confirmed multiple times as the price bounced off it recently, pushing XRP to $0.70 last month.
As bullish altcoins recovered, XRP dropped to around $0.63, confirming the $0.74 area as a strong resistance. The area of resistance and the bullish trend line reveal an ascending triangle hinting at a potential bullish breakout.
Indicator readings, including MACD and RSI, are both neutral. The RSI is falling, barely above the 50 mark, while the MACD is dangerously close to 0. According to analysts, a reaction from its current price will confirm the token’s direction. A bullish move could be a 17% increase, while a bearish response could see XRP dipping by 15% below $0.55.
Ethereum (ETH) Delivers Bullish Recovery Despite Decline
Following the bearish performance of the overall cryptocurrency market, Ethereum (ETH) was dragged to lows, triggering panic for investors. Fortunately, it recovered alongside Bitcoin (BTC). This past week, ETH pushed back towards $4,000, continuing its bullish move to all-time highs. This year, Ethereum has skyrocketed by more than 90%, and investors are expecting more upside moves for ETH thanks to market development and fundamentals.
Thanks to Bitwise, Ethereum has lately been the focal point of the crypto community. The asset management company is pushing for an exchange-traded product made of Ethereum’s Layer-2 applications and networks. Anticipation for an Ethereum ETF is also at all-time highs, with experts predicting a December launch. The upcoming Bitcoin halving event has also played a part in Ethereum’s recent performance. Despite expectations for bullish prices, experts recommend getting in on high-performance altcoins like NuggetRush (NUGX).
NuggetRush (NUGX) Skyrockets Hinting At More Explosive Gains Soon
NuggetRush is a highly anticipated DeFi platform bringing a fresh perspective to the digital investment space. Unlike many established DeFi projects, NuggetRush draws the interest of industry-wide investors with its innovative combination of a play-to-earn gaming experience. The game has NFTs baked into it and can also be staked, offering the best crypto investment option for DeFi users. Large investors have recognized its potential to deliver life-changing returns because of these trendy features, and NuggetRush didn’t disappoint.
Throughout the presale of the NUGX token, NuggetRush witnessed high demand, which caused it to charge through multiple milestones. So far, early investors’ are up 90% as the tokens surged from $0.01 to $0.019 across all five rounds. The crypto ICO is currently in its launchpad round, and the launch will follow immediately after. Demand for presale tokens has sold more than 270 million tokens and raised over $3.6 million.
When NuggetRush launches after the crypto ICO, investors can make money by playing the P2E game. Players are tasked with mining various locations using their in-game characters that double as NFTs. Mined assets can be traded for cash on the platform’s P2P marketplace. There’s also a rare NFT collection called RUSHGEM. These collectibles can be exchanged for real gold and staked for a 20% APY.
Considering the high anticipation for the launch of NuggetRush, investors expect NUGX to explode by a hundredfold, making it the best crypto investment opportunity to make life-changing returns.
Conclusion
With the Ripple Ledger expected to be fixed soon, XRP might recover if it maintains solid implementation without further hitches. Investors seeking to avoid volatility can opt for bullish altcoins like Ethereum and NuggetRush. Although they all have bullish expectations, NuggetRush’s potential is higher than the rest. As the launch of NuggetRush is expected to deliver gains to investors, the presale tokens have started selling fast, and investors are advised to get in as soon as possible.
Related Posts
