XRP Price Prediction: XRP negative sentiment has reached its highest level in years after the Bitfinex hack fiasco as analysts say this GameFi pre-sale could be the best cryptocurrency to buy right now.

adminJanuary 16, 2024

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The price of XRP has fallen 1.6% over the past 24 hours, trading at $0.5719 as of 1:20 AM ET, with trading volume down 2%.

This comes amid growing negative sentiment towards Ripple’s XRP, with behavioral analysis tool Santiment naming it as the cause of the failed Bitfinex hack.

📊 After trying (and failing) @bitfinex There is a high level of negative sentiment towards hacking using ‘partial payment exploits’. $XRP. that much #altcoinIn 2024, the price/performance ratio was medium. with low price #RSIOn the other hand, there is upside potential. #FUD high. https://t.co/QOPIKzD7sC pic.twitter.com/M6u59SUVlN
— Santiment (@santimentfeed) January 15, 2024

A vulnerability in the XRP Ledger, a partial payment feature that is considered not only a standard but also a secure financial tool, was exploited in an attempt to exploit it. According to Tether CTO Paolo Ardoino, the bad guys took advantage of a loophole in the popular cryptocurrency exchange Bitfinex.

Someone attempted an attack. @bitfinex Through “partial payment exploits.”
The attack failed because Bitfinex correctly handles the ‘delivered_amount’ data field. https://t.co/EiGw9UQmmq
(Updated with better gif) https://t.co/8I7vlO05ou pic.twitter.com/DxOnJLLkhU
— Paolo Ardoino 🍐 (@paoloardoino) January 14, 2024

Initially, reports circulated that approximately $15 billion worth of XRP, or nearly 50% of XRP’s $31 billion market capitalization, was involved in the attack. This was after on-chain service WhaleAlerts reported the transaction attempt early Monday.

🚨 26,200,000 #XRP (15,163,719 USD) was transferred from an unknown wallet to: #bitstamphttps://t.co/Xi07pdHALL
— Whale Alert (@whale_alert) January 14, 2024

However, Ripple CTO Stuart Alderoty confirmed the failure, saying the loot was worth only a few cents. He enlisted the help of Bitfinex and Tether (USDT) CEO Paolo Ardoino, who effectively neutralized the attack attempt.

The statement “billions of XRP moved” is misleading, with the actual amount transferred being only a few cents. thank you @Bitfinex and @paoloardoino Effectively neutralizes exploit attempts.
What happened here is not a flaw or vulnerability in the XRP Ledger. part time job… https://t.co/qucpX7yJ7B
— David “JoelKatz” Schwartz (@JoelKatz) January 16, 2024

Another reason the transaction failed to execute was because the sender did not have sufficient liquidity, blockchain data from the transaction shows.

This tweet is misleading. The transaction in question did not transfer 25 billion XRP.
that much @whale_alert The code is misunderstanding what this transaction does and is reporting it incorrectly as a result.
It was a partial payment, but it actually only moved a few cents. See https://t.co/co4sMIIesO.
— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) January 14, 2024

XRP Price Outlook After Failed Attack on Bitfinex

Ripple price is still consolidating along the upward trend line, which is bullish as it fuels a recovery rally. However, the odds are in favor of the bears, highlighted by the fact that the Relative Strength Index (RSI) is below the 50 level and the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) are in negative territory. This could push XRP price down 5% to test the $0.5442 support level.

In a worst-case scenario, the price of

XRP XRP

TradingView: XRP/USDT 1-day chart

Conversely, given that the price of This makes it impossible to effectively drive down prices. This means that the bulls will regain control over the Ripple price.

Increasing buyer momentum could lead to XRP price extending northward, overcoming resistance posed by the 25-day and 50-day exponential moving averages (EMA) at the $0.5925 and $0.6005 levels, respectively. Further north, the price may clear the downward trend line as the price of the payment token gathers sell-side liquidity (SSL), which keeps it above the downward trend line. This is a move that could reach the $0.6500 level.

In a very optimistic case, the XRP price could reach the psychological level of $0.7000, which would be a 20% upside move from current levels.

Meanwhile, investors looking for the next big thing have started buying MK, a new GameFi token that analysts say has 10x growth potential. It ranks as one of the best meme coins you can buy right now, while also being one of the top three presales you can buy.

A promising alternative to XRP

MK is the ticker of the Meme Kombat ecosystem, positioning itself as an innovative gaming platform for gaming enthusiasts. Project participants will battle in an arena represented by a meme character of their choice.

Meme Kombat aims to be one of the best fighting games in the market, especially in the web3 gaming space⚔️
What is your favorite fighting game of all time? pic.twitter.com/zlbIjXz3AW
— Meme Kombat (@Meme_Kombat) January 14, 2024

Meme Kombat is in pre-sale and has raised over $6.9 million.

We raised $6.8 million. $MK Pre-sale and 1000 Discord members⚔️
Congratulations fighters! pic.twitter.com/LXTzhNScON
— Meme Kombat (@Meme_Kombat) January 14, 2024

The token is currently selling for $0.279, and token holders have the opportunity to stake their shares. Stakers earn up to 136% Annual Percentage Yield (APY).

Meme Kombat Steak