Last updated:
Author
Simon Chandler
Author
Simon Chandler
Share
Why Trust Cryptonews
The price of XRP has dipped by 4% today, retracing its steps to $1.09 as the cryptocurrency market as a whole loses 2% in the past 24 hours.
XRP is correcting a little after a very exuberant week, with speculation of a meeting between President-elect Trump and Ripple CEO Brad Garlinghouse pushing the altcoin up by 61% in a week.
And with XRP also up by 113% in a fortnight, many investors and analysts are beginning to expect that it will end 2024 in a big way.
This includes veteran trader Peter Brandt, who has recently shared his belief that if the coin can top its 2021 high of $1.96 it will go on to surge in the following months.
XRP To Reach $3 By End of 2024? Ripple Investors Are Anticipating a Huge Rally
Posting on X, Brandt noted that XRP is steadily breaking its previous highs, with its 2023 high of $0.82 already well behind it.
As we can see above, he also noted that XRP’s price chart has formed a “massive coil” over the past few weeks, meaning that it had been trading within an increasingly narrow range.
But it’s clear that the coin has now broken out of this tight range, with the election of the pro-crypto Donald Trump seemingly kick-starting a new bull market.
XRP has benefitted from this bull market more than many other major tokens, given that Garlinghouse has met with Trump in recent days.
It also helps that Trump is likely to remove Gary Gensler from his position as the Chairman of the SEC, something which could result in a softening of the regulator’s stance on Ripple and XRP.
Taken together, these factors could indeed help XRP to have a massive XRP, with a new record high certainly a realistic target for the coin.
Looking at its chart today, XRP is experiencing a short-term correction, as traders take profits from its recent rallies.
We can see its relative strength index (purple) slide below 50 today, and it may get closer to 30 before it experiences another upturn.
This suspicion finds support in XRP’s 30-period moving average (orange), which is also sinking after a sustained rise.
Based on these indicators, the alt may slip to $1.06 in the next one or two days, before more buyers come in to push it back towards $1.20.
Some analysts are even more bullish than this, of course, yet regardless of the near term XRP could hit $1.80 by the end of the year, before targeting $2.50 by H2 2025.
New Presale Tokens Set for Big Opening
XRP does look like it’s on the brink of making up for lost time, but it may be dependent on regulatory and legal developments for a major rally.
As such, some traders may prefer to look towards tokens that don’t carry so much baggage, in which case they would do well to investigate small-cap alts and some of the more promising presale coins.
One of the most bullish presales right now belongs to FreeDum Fighters (DUM), an ERC-20 token that has raised close to $600,000 In its presale.
Given that FreeDum Fighters opened its sale only a few weeks ago, this total is very promising, and suggests growing interest in the project.
And what’s interesting about the project is that it will enable DUM holders to stake their tokens in one of two pools, with each based loosely around the two candidates in this past US election.
What’s unique and interesting about FreeDum Fighters’ staking mechanism is that the least popular pool at any given time while increase its staking yield to attract holders back to it.
Not only will this ensure a balance, but it will enhance community engagement, with the project opening online forums in which users can share info and views on each pool.
Its platform will also host regular debates, with winners of debates receiving airdrops.
Investors can join its sale by going to FreeDum Fighters’ website and connecting their crypto wallets.
1 DUM currently costs $0.000085, although this will rise to $0.000125 by the sale’s final stage.
Investors should therefore get their skates on, especially if they want to make the biggest possible gains when the time comes for DUM to list.
Check Out Freedum Fighters Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
