Ripple Chairman Sees “Breakout Moment”, So Consider Bitcoin Alternatives That Could Reap 10X Profits

adminDecember 23, 2023

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XRP price has risen 0.6% over the past 24 hours to trade at $0.6211 as of 5:30 AM ET, with trading volume up 7.5% to $1.44 billion.

And Ripple Chairman Monica Long is optimistic about future prospects, predicting a “breakthrough moment” for the cryptocurrency industry, especially DeFi, in 2024.

1/ In 2024, cryptocurrencies will break the speculative hype cycle that has defined the industry’s booms and busts since the invention of Bitcoin, before the next ‘crypto summer’. As an industry, we will break the cycle by laying the foundation for real utilities at scale.
— Ripple (@Ripple) December 19, 2023

Ripple’s president argues that now is the time for the industry to focus on building compliance tools for the decentralized environment, which he calls “the next frontier of blockchain innovation.”

3/ Compliance and transparency: In 2024, being compliance conscious will not be enough. The industry must make compliance a top priority to keep customers and users safe and regain the trust lost due to major industry headwinds. The industry needs to build compliance tools…
— Ripple (@Ripple) December 19, 2023

XRP Price: Ripple Price Prediction

The price of Ripple is currently $0.62, but the project experienced a significant price surge two weeks ago, reaching almost $0.70. Some believe that XRP is preparing for another attempt to reach this level and potentially go higher.

Some experts recommend HODLing because they believe Ripple could reach $1. This prediction stems from the fact that the price of the coin has consolidated after rising for quite some time.

However, the coin needs to break through the strong resistance at $0.6254 before it can surge further. If successful, the price can proceed to rise.

However, if it fails, another rejection is possible, which is likely to be support at $0.6102, and if the first rejection fails to prevent the price from falling further, it is likely to be support at $0.5868.

XRPUSDT December 22

The chart above shows the tightening of the Bollinger Bands. This is a bearish signal that suggests another price rejection could occur soon.

However, the coin’s RSI score is currently showing some neutrality, meaning the currency is neither overbought nor oversold.

In other words, XRP is at a crossroads and the price could go either way. That said, the $0.6 support level strengthens the lower boundary of the triangle pattern the coin has formed over the past few weeks, while the 200-day moving average remains nearby.

This means that prices are more likely to break an uptrend pattern by rising rather than spiraling down.

Nonetheless, XRP is in a sensitive position with high uncertainty, so we recommend watching it closely in the short term.

A promising alternative to Ripple

For investors looking for more upside potential, Bitcoin Minetrix (BTCMTX), currently in pre-sale, is a strong candidate.

Bitcoin Minetrix is a cloud mining project that allows users to mine Bitcoin without buying expensive mining equipment or paying huge electricity bills.

Instead, all users need to do is purchase and stake BTCMTX tokens, the native cryptocurrency. In return, they receive credits that can be used to mine BTC.

With Bitcoin block reward halving expected in April 2024, demand for Bitcoin mining is at an all-time high. This is not only because the rewards will be halved, but also because the BTC price is expected to start a new upward trend in about June-June. This is 12 months after the halving occurred.

Bitcoin Minetrix allows anyone to participate in the accumulation process by purchasing cheap tokens and staking them.

Additionally, the project strives to restore users’ faith in cloud miners by being fully decentralized and transparent.

why #Bitcoin Metrics Shines:
Easy startup process.
Cost-effective operation. 💵
The space is unrestricted and unobstructed. 🚀
No need to worry about reselling. 🔄 pic.twitter.com/AkPWpo7KdV
— Bitcoin Minetrix (@bitcoinminetrix) November 26, 2023

That belief has been lost over the years due to the numerous fraudulent cloud miners. Decentralization and transparency of projects are very important to prove that they are different, safe, and trustworthy.

Since it’s still in pre-sale, it’s also an ideal moment to buy BTCMTX, which is selling for $0.0124 each and rising in price within 5 days.

This is one of the best presales and has already raised over $5.8 million of the $6.637 million target, with the token price expected to skyrocket once it closes.

Anyone interested in purchasing now can exchange it for ETH or USDT or purchase with a credit or debit card.