Traders who caught the moves in XRP price have made remarkable returns in a short period. One of the Ripple millionaires who made over $1 million in profits has ventured PNUT.
XRP Price Pauses For Breather After Rally
Ripple’s XRP price is trading at $1.07 on Wednesday, holding its spot as the top-performing cryptocurrency among the top 20 by market cap. It has surged over 50% in the past week. On the daily chart, the XRP price is near the local support level of $1.04. If the daily candle closes below this level, it could signal a breakdown, potentially pushing the price down to the $1 zone.
However, the rally in the XRP price may continue, fueled by speculation that the ongoing Ripple lawsuit with the US SEC could end soon, especially if SEC Chair Gary Gensler steps down. XRP price recently spiked above $1 after Gensler hinted at a possible resignation.
PNUT Drops Below $2 After Going Viral
Peanut the Squirrel (PNUT), which became viral recently, has fallen below the $2 zone after reaching a high of $2.5. The recently launched PNUT went viral due to an internet incident on a Squirrel, and its market cap climbed to $2 billion. PNUT has corrected nearly 40% from the top, dropping to the $1.6 support level.
However, the PNUT price volume in the correction has subsided significantly, showcasing the low strength of the selling. If the current support breaks, it might fall to the next major support of $1. At the same time, the recent high will be the local resistance for PNUT.
