XRP is showing signs of a bullish reversal as its indicators have turned positive in the past day. The price of XRP has increased by 2.5% in the last 24 hours, reaching $0.553, while the overall crypto market has slipped by 0.5%. Although XRP is up 3% in a week, it has seen a 5% decline in a month due to struggles with the SEC’s appeal and the inability to break through the $0.56 resistance level.
However, the broader market’s increasing bullishness could support stronger rallies for XRP in the coming weeks, especially considering its undervalued position. Today, XRP is experiencing renewed momentum, with indicators suggesting a possible test of its resistance level in the next day or so. The 30-period moving average has crossed over the 200-period average, signaling a potential breakout. Additionally, the relative strength index has touched 70, indicating new momentum and room for further growth.
Whales have also started accumulating XRP again, with the coin’s volume surpassing $1 billion. This suggests an expectation of a substantial price increase in the coming weeks. The recent appeal filed by the SEC against Ripple initially scared investors, but the formal filing clarified that the regulator is not challenging XRP’s non-security status. Instead, the focus is on programmatic sales of XRP on exchanges and sales by executives. This clarification has helped stabilize the XRP price, and optimism has been boosted by excitement over the upcoming election.
With narrowing polls, there is hope that a second Trump administration could lead to a softer regulatory regime and a change in the SEC’s stance. This could potentially result in the removal of Gary Gensler as chair of the regulator. If these circumstances materialize, the XRP price could reach $1 after a potential Trump victory, while a Harris administration may see it climb to $0.70 by year-end.
Due to XRP’s dependence on regulatory events, some traders may prefer to explore newer coins with fewer regulatory concerns. One such token is FreeDum Fighters (DUM), an ERC-20 token that recently launched its presale. With over $200,000 raised, DUM offers a unique and election-themed staking concept. Holders can stake their DUM tokens in two pools named Magatron and Kamacop, each representing the candidates in the upcoming US election. The pool with fewer participants will increase its staking yield to attract holders. FreeDum Fighters also encourages community participation through online forums, where users can debate the merits of each pool. Winners of these debates receive proceeds from weekly airdrops, incentivizing participation and growth. DUM has a maximum supply of 250 billion tokens, with allocations for presale, staking pool, liquidity, and debate rewards.
Investors can participate in the sale by visiting the FreeDum Fighters website and connecting their crypto wallets. Currently priced at $0.00005, the token will see incremental increases to $0.000075, $0.0001, and $0.000125 in subsequent stages.
Please note that cryptocurrency investments are high-risk, and this article is for informational purposes only and should not be considered investment advice.