The XRP price tumbled 5% in the last 24 hours to trade at $0.6068 as of 05:51 a.m. EST on trading volume that dropped 31% to $2 billion.
This comes amid a bull vs bear struggle for ascendancy on the XRP price, with bears gaining most ground and the bulls struggling.
According to data from GeckoTerminal, the current price hovers between $0.58 and $0.63, reflecting cautious market sentiment.
Data also shows that bulls are struggling to push the XRP price past the $0.66 resistance level. Despite a promising 25% surge over the past month, the momentum seems to be cooling.
Could the XRP bulls still finally overcome the $0.66 resistance?
XRP Price Aims For A Major Breakout
The XRP price is currently trading in a sideways pattern as the bull vs bear struggle intensifies.
The 50-day Simple Moving Average (SMA) at $0.6115 suggests difficulty maintaining upward movement. However, the 200-day SMA at $0.5319 offers strong support for the price, which offers bullish prospects for XRP.
The Relative Strength Index (RSI) is on a downtrend, dropping below the 50-midline level, currently at 43, indicating that sellers are gaining momentum.
XRP Price Chart Analysis Source: GeckoTerminal.com
If the selling intensifies, the bears could drive the XRP price further down to the $0.5319 support level, currently held by the 200-day SMA, an 11.99% drop from the current price.
Conversely, exceeding the $0.66 resistance could spark a climb, with the bulls targeting $0.70. With the RSI dropping towards the oversold level, the asset may soon become undervalued, which may be a buying signal.
With the token also trading above the 200-day SMA, the price of XRP could finally overcome the sideways pattern to break out of the current resistance.
Meanwhile, as the bull vs bear struggle over the XRP price intensifies, bulls are in the ascendancy when it comes to the new Base meme token Base Dawgz (DAWGZ), which has rocketed past $2.7 million in funding for its presale.
Base Dawgz Presale Garners $2.7 Million – Best Meme Coin To Buy Now?
DAWGZ aims to challenge Base meme coin titan Brett, which has exploded 14,497% from its all-time low, according to CoinGecko.
We pushing for 3M this week $DAWGZ? pic.twitter.com/FDXspxqcis
— Base Dawgz (@BaseDawgz) July 28, 2024
While Base Dawgz calls Base chain home, it offers seamless interoperability within different blockchains, spanning Ethereum, Solana, Binance Smart Chain, and AVAX.
To ensure that users can easily soar through the decentralized world without limits, Base Dawgz leverages the latest Web3 technology, including Wormhole and Portal Bridge.
Users can benefit from the project’s staking system, which offers a huge 1,035% annual percentage yield (APY) on your investment. The team says 20% of the total token supply is set aside for staking.
Staking $DAWGZ is the best way to make some extra cash while you wait for the presale to end 🤑
If you're chasing nirvana or an active thrill-seeker, this is for you. pic.twitter.com/ggM1ibSgZd
— Base Dawgz (@BaseDawgz) July 22, 2024
According to ClayBro, a crypto analyst on YouTube with over 130K subscribers, $DAWGZ could soar by 200% after launch.
If you are interested in participating in the presale, you can buy DAWGZ tokens for $0.007061. Don’t wait too long though because a price hike is coming in less than five days.
You can buy DAWGZ tokens on the official website here using ETH, USDT, BUSD, or USDC.
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