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- Hey fam—did you join yesterday’s [Show Your Alpha Points] event? Still not sure how to post your screenshot? No worries, here’s a super easy guide to help you win your share of the $200 mystery box prize!
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XRP could not hold on: "One of the worst performances"
Amid the rise in the crypto market, it is striking that the price of XRP fell below $0.60.
It was surprising that XRP did not accompany the crypto rally that started with the US Fed cutting interest rates after four years. Ripple's coin XRP, which won its legal battle with the SEC that has been ongoing for years, was shown as one of the "worst-performing" cryptocurrencies.
While XRP has only experienced a 3% increase in the last week, it has lost 4.22% of its value since the beginning of 2024.
Cryptocurrency analyst Bill Morgan made striking comments about XRP.
Critical resistance for XRP in the midst of speculation!
According to analyst Bill Morgan, the $0.60 level is of great importance for XRP. The analyst who commented on the level said the following:
The inability to break 0.60 dollars means that the price could soon fall below the 20-day EMA (exponential moving average). The price level in question has been a strong resistance point
Morgan, who emphasizes the weak outlook for XRP, also addressed the speculations that have become the focus of debate. Many community members are speculating that XRP price will rise to three-digit levels after the SEC victory. Morgan, warning investors against these speculations, advocated monitoring whether the $0.60 resistance will be broken.
David Schwartz, one of the Ripple executives, had stated that he had no idea about which factors increased the XRP price. Denying the price manipulation allegations, Schwartz also said that he was an XRP investor himself and would raise the price if he could.
According to CoinGecko data, XRP lost 1.55% of its value in the last 24 hours. The popular altcoin has a market value of $33.143 billion.
This article does not contain investment advice or recommendation. Every investment and trading move involves risk and readers should conduct their own research when making a decision.