In recent trading sessions, Ripple (XRP) showed slight resilience, sparking optimism among traders and analysts who are bullish on its growth. Before now, some analysts have predicted that XRP will significantly surge in the coming days.
This price analysis will examine XRP’s current price movements, critical technical indicators, and expert reviews to determine whether the bulls can sustain this price level below.
XRP Recent Price Movement
XRP has been relatively calm recently, as shown in the 4-hour trading chart. Since mid-July, it has traded within a narrow range, suggesting a period of consolidation.
A slight dip occurred on July 19, pushing the price to $0.54. However, XRP quickly rebounded, reclaiming the $0.60 level. This price point acted as a support level, with the asset trading between $0.60 and $0.62 for several days.
A brief surge on July 31 saw XRP break through the $0.65 barrier, marking a new monthly high. Unfortunately, this upward momentum proved short-lived. The price experienced a sharp decline, falling back to the $0.61 level.
As of today, August 1, XRP is trading at $0.610, representing a 6.22% decrease over the past 24 hours. With a market cap of $34 billion, XRP is still the 6th largest cryptocurrency.
Despite the present bearish sentiment, experts predict XRP will surge significantly soon.
Expert Predictions About Major Ripple’s Surge
On August 1, 2024, crypto analyst Tony “The Bull” Severino highlighted that XRP’s Bollinger Bands are now the tightest ever. This indicates a potential major price shift and such tight bands have historically led to significant price movements.
$XRP monthly Bollinger Bands are the tightest ever
Tighter than before the historic 60,000% rally that ended in early 2018 pic.twitter.com/OFTTkcDxDU
— Tony "The Bull" Severino, CMT (@tonythebullBTC) July 30, 2024
For instance 2018, similar conditions preceded a 60,000% surge in XRP’s price. The current Bollinger Bands are tighter than they were before that massive rally. Severino also noted that XRP’s Relative Strength Index (RSI) recently hit a historic low.
Based on the analysis, XRP has the potential to rally 600x, but that’s if history repeats itself. A surge of 600x would push XRP’s price to climb over $363.
Another Expert is Bullish on Ripple (XRP)
On July 31, 2024, well-known trader Scott Melker shared his XRP/USDT analysis. He highlighted that XRP is touching a downward resistance line for the fourth time.
$XRP WEEKLY
Have not looked at this chart in ages, but it is in a REALLY interesting spot here. 4th touch of descending resistance here on the weekly. Rejection likely, but a breakout has this flying… worth watching, regardless of your feelings towards the token. pic.twitter.com/2iInHCkfI2
— The Wolf Of All Streets (@scottmelker) July 31, 2024
If XRP breaks this resistance, its price could rise significantly above $1 soon. This would require a 65% increase from its current price of $0.610.
Also, Melker believes this situation is “worth watching” regardless of personal opinions about XRP. Despite the optimistic predictions, these forecasts are not sure, as market conditions can change rapidly.
XRP Price Analysis: Price Above Key Moving Averages
XRP is above its 50-day and 200-day Simple Moving Average (SMA) lines. Being above both averages signifies strong investor confidence and potential for continued growth.
The Relative Strength Index (RSI) for XRP is at 59. This neutral position indicates that the coin is neither overbought nor oversold. The bullish trend, supported by the SMA lines and the neutral RSI, suggests the potential for further price increases.
However, it is essential to do research and consider market conditions before making investment decisions. While Ripple XRP is showing strong performance, investors might also consider this new project on presale.
According to experts, this project can potentially give huge returns once launched.
The Meme Games: A Hot New Presale Alternative to Ripple (XRP)
With the 2024 Paris Olympics happening, the Meme Games ($MGMES) is getting noticed by crypto enthusiasts. The project combines five popular meme coins in a fun game where participants can win token bonuses.
This exciting new meme coin has already raised over $260,000 in its presale. As many investors look to diversify, The Meme Games offers a promising alternative to XRP.
Why The Meme Games is the Best Alternative?
The Meme Games presale is gaining momentum, fueled by Olympic excitement and popular meme coin characters. Investors are also drawn to its unique blend of entertainment and high rewards.
The presale price of $MGMES tokens is currently low at $0.00915, making it an attractive entry point. However, this price will soon rise as the tokens move to the next presale stage.
Meanwhile, according to Meme Games, early buyers can win a 25% bonus on their purchases. In a race, these buyers must pick one of five famous meme characters (Dogecoin, Pepe, DogWifHat, Brett, or Turbos).
Many analysts and traders see The Meme Games as a high-potential project. Jacob Crypto Bury, a famous crypto analyst, said The Meme Games could be the next meme coin to surge in price. The analyst predicts a 10x price surge.
This sentiment is echoed by the early solid investor interest, with over a quarter of a million dollars raised in just a few days.
The Meme Games also offers high staking rewards. Built on the Ethereum network, it allows users to stake their $MGMES tokens. This will continue for two years, providing another avenue for passive income.
The project offers a high staking APY of over 705%, but it will decrease as more people stake their tokens. As the presale goes on, more investors will likely join because they expect high profits.
The good news is that Meme Games has been checked by Coinsult and SolidProof, hinting at a project worth consideration. So, investors looking for alternatives to XRP might consider joining The Meme Games presale.
Check out the best crypto presales to invest now
Our Editorial Process
Our Editorial Process
Share 
Rida Fatima Crypto Journalist 
Question & Answers (0)