• XRP has seen modest growth of 1.1% in the past 24 hours, possibly due to hints from a former Ripple executive that smart contracts will be added to the XRP Ledger in the near future.
• XRP is currently trading at $0.35, with a potential buy signal on the daily chart. If XRP breaks out from the falling trend line and 200-day Exponential Moving Average, it could reach $1.
• Altcoins such as FightOut (FGHT), Dash 2 Trade (D2T), and C+Charge (CCHG) are offering quick gains to investors who are looking for safer bets.
The cryptocurrency market has seen modest growth in the past 24 hours, with XRP rising 1.1%. This could be due to hints from Matt Hamilton, a former director at Ripple, that smart contracts will soon be available on the XRP Ledger. Smart contracts are digital agreements that are governed by predetermined guidelines and do not require further human intervention. If this news pans out, it could give XRP a major boost and propel it to reclaim the third position in the market.
Currently, XRP is trading at a price of $0.35, just above the support area of $0.30 it has maintained since June. Bulls are pushing for a pre-Christmas breakout as XRP price lifts, and the Moving Average Convergence Divergence (MACD) indicator may validate a buy signal in the short term. For a safe bet, traders should wait until XRP price crosses the first falling trend line (dotted) and cracks resistance at the second trend line (continuous line) in confluence with the 200-day Exponential Moving Average (EMA) (in purple) around $0.45.
The outcome of the case between Ripple and the United States Security and Exchange Commission (SEC) will determine the ultimate direction of XRP price. Both parties have filed their final submissions, and a win for Ripple will mean a win for XRP price. However, a win for the SEC could extensively harm XRP and change the course for many crypto assets in the market.
For investors who are looking for safer bets, there are newer projects in their presales that offer quick gains. FightOut (FGHT) is a move-to-earn app that rewards users for engaging in a wide variety of workouts, including boxing, weightlifting and yoga. Dash 2 Trade (D2T) is a trading intelligence platform that will provide real-time analytics and social trading data when it launches early next year. C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations that is running on Binance Chain.
Altogether, XRP is on the path to $1 after maintaining support at $0.35 for nearly six months. The outcome of the Ripple vs. SEC case will determine the ultimate direction of XRP price, but investors have the option to invest in newer projects to lock in quicker gains. FightOut (FGHT), Dash 2 Trade (D2T), and C+Charge (CCHG) are all offering promising technologies and fundamentals that could shape the crypto industry’s future.