Dear Readers,
At at time of writing this article, there are some signs of recovery seen in the crypto market.
The Global Crypto market cap stands at 1.55 Trillion USD, a decrease of 0.43% from yesterday.
The fear greed index is at 50 improved from 46 from yesterday.
The BTC which trades <40000 USD yesterday is trading back 40,000+ USD now. Currently BTC trades at 40045 USD.
Why XRP price is dropping?
While there was an anticipated positivity to reach 5 USD from the famous crypto predictor- EGRAG CRYPTO, XRP dragged a lot in the crypto slump that is being witnessed during this week.
The native coin of the RIPPLE blockchain- XRP which is ranked at No 6 according to the coinmarketcap, is continuously beaten down in the crypto market and is currently trading at 0.514 USD. With the recent bull rain, XRP lost its 5th place to Solana. Currently, XRP is trading at a 3 months low price.
XRP is being used widely for the financial transfers across the countries with lightning speed- while it is being seen as an alternative of the SWIFT Payments- where the transactions made through an intermediary bank that allows you to send/receive money in international electronic payments.
It is said that most of the XRP investors are moving away from XRP. Also various whales who have significant portfolio had in XRP is dumping it, which is considered a massive blow for XRP.
The ongoing legal tussle with SEC is also a major issue for XRP price movements.
The major indicators are showing negativities in XRP
On the technical part, the RSI is in oversold stage. The Moving Average Convergence Divergence- MACD has moved below the signal line- indicates the negative trend the the dominance of bearishness in the coin.
Most of the investors are decided to switch over to buy the Cybertime Finance (CTF) on XRPL crypto token on the XRPL. They consider this as an alternative and attractive investment for the short to medium term basis.
CyberTime Finance is a decentralised blockchain application platform designed to be a comprehensive eco-system that has farming, DAO, NFT, mystery boxes and Daopolis game.
While the CTF token can be bought both on Polygon chain and XRP Ledger. While the CTF is on the presale stage has pumped to 0.3 USD in just 2 weeks with a rally over 75 X. There is only a week left in teh presale of CTF.
Just count, if 25% of XRPs marketcap moves to CTF, then the new coin would hit around 250 USD mark.
So make a constant watch on XRP in your trading moves.
