Chainlink and XRP are both undergoing a sell-off right now, with their 24-hour trading volumes surging upwards. Meanwhile, Rollblock (RBLK) is stealing all the investors with its community-backed GambleFi protocol.
Chainlink (LINK) Investors are Selling Out
Chainlink’s price dropped to single digits last week, and many investors decided to sell out. Now, Chainlink is trading at $10.38 after a minor 1.64% recovery. Despite this uptick, Chainlink’s trading volume is still up by another 43%, hinting at a strong profit-taking sentiment.
Chainlink’s daily chart supports this bearish thesis as Chainlink has failed to breach the 50-day EMA at $11.34. With Chainlink’s RSI trending downwards, Chainlink’s price is likely to experience steeper declines before a potential correction. For now, Chainlink’s MACD and Momentum Indicator are both flashing bearish signals. If this persists, Chainlink’s price may plunge to a new low of $0.36 in upcoming weeks.
XRP (XRP) Under a Bearish Hold
XRP recorded 5.17% losses during the last seven days, bringing XRP’s current trading price down to $0.5289. During this downfall, XRP’s trading volume has increased by 48%, hinting at a profit-taking sentiment around XRP right now.
According to the XRP/USD daily chart, XRP is trading below its 50-, 100-, and 200-day EMAs. However, since XRP’s RSI is reaching the neutral level on its 4-hour chart, there may be chances of an XRP resurgence. If buying pressure picks up, XRP may target the nearest resistance at $0.6624. If not, XRP could plunge to the $0.4506 support.
Rollblock (RBLK) Races Through Presale Stage 6
Rollblock has been the source of all the hype ever since its presale launch. Within a few months, Rollblock has already raised $3.3 million with its viral play-to-earn utility token. If this bullish momentum persists, Rollblock is likely to surge 800% by the end of presale stages, setting the stage for a massive 100x rally on launch day.
Since Rollblock combines both centralized and decentralized gaming, it is leaving traditional casinos behind by a mile with its Ethereum-backed security protocols. With 20,000 early users already betting on Rollblock’s success, this new GambleFi network is expected to dominate the $500bn per annum global gambling market by 2025.
Aside from offering 150+ AI-powered casino games, Rollblock also gives traders the chance to make a huge passive income through staking rewards. Rollblock’s mission is to bring likeminded traders and high rollers together under one roof, and it does so by encouraging investors to become long-term holders and liquidity providers in its ecosystem. With a unique revenue-sharing model, Rollblock reinvests 30% of its weekly casino revenue to repurchase $RBLK tokens on the open market.
Half of these tokens are distributed as staking rewards with the highest APY in the market, and the remaining are burned forever to limit RBLK’s supply to the 1 billion hard cap. These deflationary tokenomics are the main reason why analysts are extremely bullish about Rollblock.
For now, Rollblock is in its sixth presale stage with tokens selling for as low as $0.025 each. As the casino gains new investors every day, analysts expect Rollblock to experience another demand-based price surge by the end of this week.
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