The XRP price rose 1% in the past 24 hours to trade at $0.5295 as of 00:37 a.m. EST on trading volume that surged 29% to $1 billion.
The XRP price increase comes as Jack Straw, a top influencer on X (formerly Twitter), says that the incoming XRP ledger automated market maker (AMM) will bring staking to Ripple. With the new XRP AMM, users will be able to donate liquidity to the AMMs, creating a staking pool for XRP holders.
XRP Ledger – #XRP Staking coming
XLS 30D pic.twitter.com/lUuJlMS3TH
— Jack Straw (@JackStr42679640) January 16, 2024
See Also⚠️*THIS INDICATOR ALWAYS FLASHES BEFORE AN XRP PRICE EXPLOSION | AN XRP CHRISTMAS MIRACLE IS READY⚠️"VAGUE RESPONSE" About XRP Adoption By Ripple President TRIGGERS ALARM FROM XRP HOLDERS????WARNING: XRP & FLARE IS ABOUT TO MAKE US FILTHY RICH | WEF & RIPPLE READY FOR THE FINANCIAL RESET????????????*RIPPLE/XRP CHART REVEALS EXPLOSIVE MOVE IS ONLY DAYS AWAY.... CRYPTO LAWS COMING IN 2024*????????
As a result, individuals will receive a proportionate amount of earnings while sharing the accompanying exchange risk. Will this be a positive for the XRP price?
XRP Price Trends On A Bullish Ascending Triangle Pattern
The XRP price has been in a consolidation phase this month after facing a downtrend from the resistance level at $0.54. The slight price downtrend saw the price use the $0.50 mark as the support zone.
Additionally, the XRP price is trading above the 50-day Simple Moving Average (SMA), supporting the current bullish momentum. If the bullish momentum is sustained, the price will be able to overcome the 200-day SMA hurdle, which coincides with the nearest resistance at $0.5358.
The Relative Strength Index (RSI) indicates a rebound from the oversold regions to trade above the 50-midline level at 57. If the current bullish momentum is sustained, the RSI could rally to the 70-overbought region.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) seems to be rebounding to trade within the same level as the signal line (orange), which further supports a likely breakout to the upside. The red bars further support this, as they are reducing, heading for the upside.
Furthermore, the Average Directional Index (ADX) is trading above the 25 level at 30, which shows that the current trend is very strong.
XRP Price Prediction
The XRP price indicates a likely reversal to the bullish side, as it trades within the upper boundary of the ascending triangle pattern. With this, the bulls may drive the price higher, targeting $0.56.
In a reverse scenario, the bears could exert some pressure, driving the price down to the critical support zone at $0.51.
As the XRP price bulls look for some clarity, meme coins in the Solana ecosystem have been creating some investor excitement. SMOG stands out, with investors talking about its potential as the next BONK, HONK, MYRO or WIF, particularly as they await the release of its highly anticipated supercharged airdrop.
Solana Meme Coin SMOG Sparks Investor Excitement With Huge Airdrop Plan
Solana meme coin SMOGhas rapidly risen among the ranks of the top-performing altcoins in the Solana ecosystem. It aims at emulating the past successes of other Solana-based meme coins like MYRO and BONK.
Currently trending among the most popular coins, analysts believe that SMOG has the potential to surpass the other Solana meme coin stars.
Markets are currently surging, attributed in part to Bitcoin blasting through $50k and partly because of the Chinese Lunar New Year of the Dragon celebrations. The two-week festival has been known to attract investors that aim to leverage the lucky inferences of the season.
SMOG is well positioned to take advantage of these festive celebrations happening globally, as the token has a dragon theme.
Buy $SMOG, Receive The Biggest Airdrop Ever
The SMOG team has allocated a whopping 35% of its 1.4 billion token supply for the supercharged airdrop. The other supply goes to marketing (50%), future exchange listings (10%), and liquidity (5%).
Jupiter airdropped a monumental $700 million to investors, resulting in substantial returns. The $SMOG token pledges an even larger and more enticing airdrop opportunity you don’t want to miss out on.
To join the airdrop, all you have to do is buy and hold $SMOG. You can also be eligible for the airdrop by following SMOG’s social media pages and performing easy daily tasks. The enticing airdrop campaign has already attracted a huge number of followers, significantly boosting the token’s popularity.
Jacob Bury, a YouTube crypto analyst, says SMOG is a project that has the potential to yield a 1000X return on investment after launch.
You can buy the SMOG token on its official website to be eligible for the historic airdrop soon. You can also buy directly on JUP DEX.
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