XRP Price Stalls At $0.6 As SEC Appeal Looms, But Here’s A Crypto Top Traders Are Buying For Exponential Gains

The XRP price dropped 3% in the last 24 hours to trade at $0.6047 as of 03:49 a.m. EST on trading volume that plunged 50% to $2.6 billion.

This comes as the U.S. Securities and Exchange Commission (SEC) hints at a looming appeal after District Judge Analisa Torres ordered Ripple to pay a $125 million fine, while the SEC had sought a much larger penalty of $2 billion. The SEC may still be considering appealing certain aspects of the case.

After a sustained surge this week, XRP now trades within the $0.60 range. Can XRP surge above the currency resistance?

XRP Price To Continue Rallying

The XRP price dropped from the $0.65 resistance to the $0.47 support from August 1 to August 6, according to data from GeckoTerminal . The bulls, however, capitalized on this support to push the token back to the resistance zone, forming a complete rounding bottom pattern.

XRP price aims for a rally above the pattern, as the price now trades above both the 50-day and 200-day Simple Moving Averages (SMAs).

Additionally, the Relative Strength Index (RSI) trades from the 50-midline level to the current level at 62, an indication of sustained buying pressure from optimistic investors.

The Moving Average Convergence Divergence (MACD) also crosses above the neutral line, showing that XRP is currently on an uptrend.

The green bars on the histogram also extend above the zero line, showing that XRP is moving with positive momentum.

If the momentum continues, the price of XRP could soar above the current resistance as it aims for a new target of $0.80.

XRP Price Chart Analysis Source: GeckoTerminal.com

However, if the bears take control of the price at this level, the XRP price could go through a correction, with the $0.50 level acting as the immediate support level. 

Meanwhile, investors are also piling into the new Ethereum Layer-2 meme token Pepe Unchained (PEPU) , which has just blasted past $7.8 million in funds raised in its presale.

Pepe Unchained: The New Meme Coin on Ethereum’s Layer-2

Pepe Unchained (PEPU) is quickly becoming a hot topic in the cryptocurrency world, with its presale surging past $7.8 million. 

This new meme token, a successor to the original PEPE, operates on Ethereum’s Layer-2, aiming to address the scalability, speed, and efficiency issues that often plague Layer-1 blockchains like Ethereum.

Unlike its predecessor, which struggled with rising gas fees and network delays, Pepe Unchained promises a more efficient and cost-effective platform. 

This shift to Layer-2 technology is a significant draw for investors, who are also enticed by the token’s staking system , offering a substantial 258% annual reward.

Prominent crypto analysts, like those at 99Bitcoins, suggest that $PEPU could see a 100X increase post-launch, further fueling the buzz.

If this interests you and you want to participate, $PEPU tokens are available at $0.0089461 each. With a price hike coming in less than four hours, buy immediately to lock in the best deal.

To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.

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