Quick Facts:
$XRP is one of the best performers among heavy-cap cryptos this week.
For context, $BTC has surged 5% over the past seven days, while $ETH is up 4.5%. Considering the previous weeks’ bloodbath, the trend paints an optimistic picture for the market, but their gains pale in comparison to $XRP’s 9.45%.
The cross-border remittance token has managed a steady climb for most of the week, briefly touching $2.69 before retracing slightly. Keeping up with the spot market’s energy, the derivatives market has also perked up, as open interest (OI) crosses $4.5B.
Multiple factors indicate that $XRP’s recent surge might be short-lived. It could be a while before it reclaims its all-time high of $3.65, since the rise in open interest could swing either way.
For instance, the OI-weighted funding rate has declined, revealing that confidence in $XRP will be fragile in the absence of a significant broader market shift. Short positions likely anticipate another test of the key support level at $2.18.
The RSI (Relative Strength Index) is now at 51, while the current price is just slightly below the 50-day exponential moving average of 2.6852, further indicating that the recent rally is slowing down.
That partly explains the renewed activity in the derivatives market, which dropped to $3.49B on October 19 – its lowest point since late April.
With the US and China set to discuss trade frictions and the Fed rate cut looking increasingly likely, $XRP could soon capitalize on the return of risk appetite and head for $3.
Despite the crypto market simmering in uncertainty since October 10, a new crypto infrastructure coin has been attracting steady investor traction. The Best Wallet Token presale is making its way toward $17M, defying broader market trends.
Backed by a non-custodial wallet that boasts hundreds of thousands of downloads on iOS and Android devices, it’s clearly not just the token’s low presale price that’s drawing interest.
Companies like Strategy continue to buy the crypto dip, as the market is entering a promising phase supported by friendlier regulations.
While institutional giants can afford to buy $BTC and $XRP for a fortune, retail investors are playing a completely different game. For them, the smarter bets are emerging coins with much lower market caps.
Smart investors are exercising this strategy while curating their portfolios ahead of the next crypto super cycle, likely to begin in November. This reallocation is behind the growing interest in the Best Wallet Token presale, which powers the Best Wallet ecosystem.
The project is on a mission to capture 40% of the global crypto wallet market share by 2026. It’s an ambitious target but not one that is far-fetched, considering the Best Wallet app is:
$BEST tokens play a key role in fueling this ecosystem, which looks beyond crypto storage and towards driving retail crypto adoption. For holders, it unlocks privileges like early access to vetted presales, lower fees, higher staking rewards, and voting rights.
Being anchored to a thriving ecosystem with a growing user base, the token is expected to take off following its upcoming launch, making the current presale deal too good to ignore.
But more importantly, organic demand could underpin the token’s value during volatile periods.
For early investors who buy the token at $0.025865 in the current presale phase and grab the 79% staking APY, that leaves room for jaw-dropping returns.
➡️ Thinking of investing in $BEST? Take a look at our step-by-step guide to buying the Best Wallet Token before heading to the official presale website.
Being a presale, however, the price rises in stages, while the staking APY lowers as more holders join the staking pool. And the next price surge is just a day away.
So be sure to join the Best Wallet Token presale today to lock in the best deal.
As always, do your own research before investing in crypto. This is not financial advice.
Authored by Bogdan Patru, Bitcoinist – https://bitcoinist.com/xrp-price-prediction-ahead-of-fomc-rate-cut-best-crypto-to-buy
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As a crypto writer, Bogdan’s responsibilities are split between researching and writing articles and entertaining the team with his humor bordering on the politically incorrect, an aspiring Bill Burr, if you will. Thanks to his 12+ years of writing experience in just as many fields, including tech, cybersecurity, modelling, fitness, crypto, and other topics-that-shall-not-be-named, he’s become a genuine asset to the team. While his position as a senior writer at PrivacyAffairs thought him valuable lessons about the power of self-management, his entire writing career was and is an exercise in self-improvement. Now, he’s ready to sink his teeth into crypto and teach people how to take control of their own money on the blockchain. With fiat as an eternally devaluing currency, Bitcoin and altcoins seem like the best-fitting alternative for Bogdan. Bogdan’s biggest professional accomplishment, aside from securing a position as a main writer for Bitcoinist, was his 5-year run as a writing manager at Blackwood Productions, where he coordinated a team of four writers. During that time, he learned the value of teamwork and that of creating a working environment that breeds efficiency, positivity, and friendship.
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