XRP Price Holds at $0.6 as SEC Appeal Nears, But Here’s Which Cryptocurrency Big Traders Are Buying for Huge Gains

XRP price has decreased by 3% in the last 24 hours. Trading at $0.6047 As of 03:49 AM ET, trading volume was down 50% to $2.6 billion.

This comes as the US Securities and Exchange Commission (SEC) is hinting at an imminent appeal after 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 consider appealing certain aspects of the case.

After a steady rise this week, XRP is now trading in the $0.60 range. Can XRP rise above the coin’s resistance level?

XRP price will continue to rise

XRP price fell from the $0.65 resistance level to the $0.47 support level from August 1 to August 6, according to data from Gecko TerminalHowever, bulls took advantage of this support to push the token back into the resistance zone, resulting in the formation of a complete rounded bottom pattern.

Now, the XRP price is targeting a rise above the pattern, with the remittance token trading above the 50-day and 200-day simple moving averages (SMA).

Moreover, the Relative Strength Index (RSI) has risen from the midline level of 50 to the current level of 62, indicating continued buying pressure from bullish investors.

The Moving Average Convergence Divergence (MACD) indicator also crossed above the neutral line recently, indicating that the price of XRP is currently in an uptrend.

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

If this bullish momentum continues, XRP price could rise above the current resistance and target $0.80.

However, if the bears take control of the price at this level, the XRP price may undergo a correction, with the $0.50 level acting as an immediate support level.

As XRP price appears to continue to rise, investors are rushing to buy the new Ethereum Layer-2 token Baby Unrestricted (PEPU)which just surpassed $7.8 million in pre-sale funds raised.

Pepe Unchained: The New Meme Coin Joining the Ethereum Layer 2 Ecosystem

Pepe Unchained (PEPU) has quickly become a hot topic in the crypto world, with its pre-sale surpassing $7.8 million.

This new token, which is a successor to the original PEPE, operates within the layer 2 ecosystem, aiming to address the scalability, speed, and efficiency issues that layer 1 blockchains like Ethereum often suffer from.

Baby is getting ready to browse his own layer 2 blockchain – the first of its kind! 🐸🌊 pic.twitter.com/T41V8wNDBh

— Pepe Unchained (@pepe_unchained) August 8, 2024

Unlike its predecessor, which was plagued by high gas fees and network delays, Pepe Unchained promises a more efficient and cost-effective version of PEPE.

This shift to layer 2 technology is a big draw for investors, who are also attracted to the token. Betting programand offers a generous annual bonus of 258%.

Prominent cryptocurrency analysts, such as those at 99Bitcoins, suggest that $PEPU could see a 100x increase after launch, further adding to the hype.

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

Buy $PEPU from its official website here Using ETH, USDT or bank card.

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