XRP prices have risen 1% in the past 24 hours to $0.5295, with trading volume surging 29% to $1 billion as of 00:37 am ET. The rise in XRP prices is due to the upcoming launch of the XRP Ledger Automated Market Maker (AMM), which will bring staking to Ripple. With the new XRP AMM, users will be able to provide liquidity to the AMM, creating staking pools for XRP holders. As a result, individuals will receive corresponding returns and share corresponding trading risks. Will this be a positive factor for XRP prices?
XRP price trend is in a bullish ascending triangle pattern. This month, XRP price entered a consolidation phase after facing the $0.54 resistance level. The slight downtrend in the price has seen the price using $0.50 as a support area. Moreover, XRP price is trading above the 50-day simple moving average (SMA), supporting the current bullish momentum. If the bullish momentum continues, the price will be able to overcome the 200-day SMA barrier, which coincides with the nearest resistance at $0.5358. The relative strength index (RSI) shows a rebound from the oversold area, trading above the 50 mid-line level at 57. If the current bullish momentum continues, the RSI could rise to the 70 overbought area. Moreover, the moving average convergence divergence (MACD) line (blue line) seems to be rebounding, trading within the same level as the signal line (orange line), which further supports the possibility of a possible upside breakout. The red bars further support this as they are decreasing, trending upwards. Moreover, the average directional index (ADX) is trading above the 30-25 level, showing that the current trend is quite strong.
XRP price prediction shows that the price is likely to reverse upwards as it is trading within the upper boundary of the ascending triangle pattern. With this premise, the bulls may push the price upwards with a target of $0.56. In the opposite case, the bears may apply some pressure to push the price towards the critical support area of $0.51.
While XRP’s bullish price trend is becoming clear, memecoins in the Solana ecosystem are also generating some excitement among investors. SMOG stands out among them, with investors talking about its potential as the next BONK, HONK, MYRO, or WIF, especially as they wait for the release of its much-anticipated super airdrop.
Solana memecoin SMOG has quickly risen in the Solana ecosystem through a super airdrop program that aims to emulate the past success of other Solana-based memecoins such as MYRO and BONK. Currently, SMOG is one of the most popular coins, and analysts believe that SMOG has the potential to surpass the star of other Solana memecoins.
The market is currently seeing a big surge, partly due to Bitcoin breaking through $50,000 and partly due to the Chinese Lunar New Year of the Dragon celebrations. The two-week celebrations have attracted investors looking to take advantage of this lucky season. SMOG is well-positioned to take advantage of these celebrations around the world, as the coin has a dragon theme.
The SMOG team has allocated 35% of the 140 million token supply for the super airdrop. The rest of the supply is used for marketing (50%), future exchange listings (10%), and liquidity (5%). Jupiter airdropped $700 million to investors, bringing impressive returns. The $SMOG token promises a bigger and more enticing airdrop opportunity that you don’t want to miss out on. To participate in the airdrop, you just need to buy and hold $SMOG. You can also qualify for the airdrop by following SMOG’s social media pages and performing simple daily tasks. This enticing airdrop campaign has already attracted a large number of followers, greatly boosting the popularity of this token.
Jacob Bury, a YouTube cryptocurrency analyst, said SMOG is a project that has the potential to earn a 1,000x return on investment after its launch.
You can buy SMOG tokens on its official website to be eligible for the historic airdrop soon. You can also buy them directly on JUP DEX.
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