XRP is the sixth largest cryptocurrency by market cap and has been on a rollercoaster ride this past year. As the price goes up and down, many investors are wondering what the projected price of XRP will be and whether it can reach the $5 mark this year.
In this article, we will look at the factors that can affect the price of XRP and predict whether it can reach $5 USD or not.
Ripple’s filing with the SEC has been a source of uncertainty for XRP holders. CEO Brad Garlinghouse is optimistic that a decision could be made this year or in early 2023. Despite the lawsuit and the bear market, XRP, Ripple’s native token, has struggled to stay strong.
Despite the fluctuations in XRP price, large crypto investors (called whales) are still interested in XRP tokens.
Whale Alert Discovery: How XRP’s Recent Movement Could Affect the Crypto Market
Whale Alert, a network data provider, reported that several whales recently transferred large amounts of XRP. On January 27, more than 160 million XRP tokens were transferred between two unidentified wallets, worth more than $65.53 million, according to current cryptocurrency market prices reported by the data provider.
On January 26, Whale Alert reported the transfer of 39.5 million XRP tokens from Bitso to an unknown wallet. According to the current market value, these tokens are worth approximately $16.2 million. Recently, a significant amount of XRP tokens have been moved from unidentified wallets to crypto exchanges.
For example, 30 million XRP coins ($12.41 million) were sent from an unspecified wallet to Bitso, and 33 million tokens ($13.65 million) were sent from a mysterious wallet to Bitstamp.
According to Whale Alert, large investors seem to be buying more XRP tokens despite their price decline. For example, one whale invested about $12.19 million to buy 30 million XRP from Bitso, and another recently bought 40 million worth about $16.2 million.
XRP price prediction
As of today, the current market price of the XRP token is $0.4120 with a total trading volume of $472 million in the last 24 hours. Its price increased by 0.24% and is currently ranked 6th on CoinMarketCap with a market capitalization of around $20 billion.
XRP/USD is struggling below the $0.4150 level, finding support around $0.4045. In the event of a bearish breakout of the $0.4045 support zone, Ripple may jump further to the next support zones of $0.4045 or $0.3965.
Leading technical indicators such as MACD and RSI are trading in the overbought zone, indicating that the market is currently in a strong buying trend. Additionally, a bullish breakout of the $0.4160 level could reveal waves to the $0.4260 level.
The best cryptocurrencies with profit potential
With the growth of the crypto market, the attention of investors to altcoins is also increasing. Investing in these coins can be quite profitable for early adopters as they can collect coins before their official release.
At the moment, there are several altcoins that have made headlines and attracted investor interest.
Fight Out (FGHT)
Fight Out is an easy and inexpensive way to stay active. You can access expert personal training services at a reasonable price by purchasing their FGHT tokens, allowing even those on a tight budget to enjoy the benefits of exercise.
The FGHT presale was a resounding success, raising $3.50 million. All behavior associated with the avatar has been documented, giving you a great reference to evaluate your actions. You have very little time left to earn 60.06 FGHT for every $1 spent (in ETH or USDT).
C+Charge (CCHG)
C+Charge presents a revolutionary blockchain-based payment mechanism for electric car owners. Users will receive carbon credits when they make their first charge, with the ultimate goal of drastically reducing greenhouse gas emissions.
This revolutionary technology has the potential to completely disrupt the long-established carbon credit market, which has been dominated by a small group of individuals. This levels the playing field and allows more businesses to participate in the industry.
The voluntary lending market (VCM) is expected to reach $100 billion by 2030. C+Charge, the market leader in this field, is leading the way, having successfully raised over $439,900 in a pre-sale, demonstrating that the business is growing rapidly.
Meta Masters Guild (MEMAG)
The Meta Masters Guild has skyrocketed to $1.8 million in just a few days. This significant growth indicates a high level of public confidence in the future development of the company and its ability to generate income.
In the third quarter of 2023, Meta Masters Guild will release its first mobile game. MEMAG, their own coin, allows users to exercise governing authority, participate in staking, and purchase network items and NFTs.
They also want to create play-to-earn and Web3 games to provide even more immersive gaming experiences. Early investors have a limited time to participate in the MEMAG sale, which is currently offering 1 MEMAG for $0.01.
However, this price is expected to increase in less than two weeks, so potential buyers should act fast if they want to get the currency at the lowest price. Don’t miss out on this seven-stage bargain!
