The extreme bull market euphoria has driven even the often-tepid XRP to form 100% weekly green candles.
The XRP price secured its first weekly close above $1 since October 2021. However, a long-short ratio below 1 and the formation of a descending wedge raise concerns about the possibility of a bullish continuation.
Meanwhile, smart money investors are expecting a rally in penny crypto to end the year. For instance, there is a strong uptick in demand for Slerf, Pepe Unchained, Flockerz and other low-cap meme coins.
XRP Price Prediction – What’s Next, $2 or $0.66?
Donald Trump’s landmark victory in the recent U.S. presidential election has fostered a favourable environment for XRP, boosting investor confidence in regulatory clarity and driving hopes for mainstream adoption.
With Trump’s win, there is now a strong possibility of Chair Gary Gensler’s exodus from the US Securities and Exchanges Commission, with his replacement expected to be strongly pro-crypto.
High odds Gary Gensler resigns Monday.
Both of the last SEC chairmen resigned on the third Monday of November.
— Felix Hartmann (@FelixOHartmann) November 18, 2024
The Gensler-led SEC recently appealed Judge Torres’ initial ruling, asserting that XRP’s parent company, Ripple, violated the Securities Act through its programmatic sales. A pro-crypto chair could potentially broker a favourable agreement with Ripple, bringing an end to the commission’s prolonged legal battle with the company.
It is not without any reason that Robinhood recently listed XRP on its platform after notoriously de-listing the cryptocurrency following the SEC’s lawsuit.
There have also been reports that Ripple and its CEO Brad Garlinghouse have met with President-elect Donald Trump and his team, which has also boosted the XRP price and improved its long-term prospects.
BREAKING: @Ripple CEO Brad Garlinghouse just made waves on **FOX NEWS ! 
Donald Trump held a meeting with Ripple. Let that sink in. 
#XRP IS ABOUT TO MELT FACES—GET READY!
pic.twitter.com/HjFBoPWnzv
— Savant
(@XRPSavant) November 15, 2024
However, smart money investors are being careful of a short-term correction in the token price. For instance, its price chart is creating a falling wedge, which could result in a pullback to $0.92, XRP price prediction from popular trader CryptoBull reveals.
If Bitcoin sees a period of extended downside, the XRP price could retest the key multi-year $0.66 S/R level. Meanwhile, the long-short ratio for XRP-tracked derivatives has dipped below 1, signalling that traders are anticipating a short-term correction in the token.
However, the broader overall trend remains distinctly bullish. Experts believe that any dip below the $1 mark presents an excellent opportunity to buy the dip, considering that the XRP price is still trading 70% below its all-time high of $3.84.
3 Penny Cryptos That Could Explode Next
The macro environment remains highly conducive to strong growth in risk assets. A Republican supermajority in the United States, monetary easing in major economies including the United States and China and the increased adoption of Bitcoin has resulted in extreme market euphoria.
Unsurprisingly, penny cryptos, low-cap meme coins and new crypto launches are in high demand.
In this article, we list three trending penny cryptocurrencies that could explode next and deliver outsized returns to end the year.
Pepe Unchained (PEPU)
Pepe Unchained is one of the most-hyped low-cap meme coins and has already raised over 35 million in its presale phase.
Pepe is celebrating 35M today!
With just under 26 days left in the presale don't miss out on your chance to get in on the ground floor! 
pic.twitter.com/6eTaUVUZSs
— Pepe Unchained (@pepe_unchained) November 17, 2024
There is a significant possibility that the PEPU ICO will raise over $50 million before its highly-anticipated launch on December 13th.
The meme coin is adding over $1.5 million to its presale figure daily, thanks to a strong whale interest in it. A deep-pocketed investor now has over 100 ETH invested in PEPU, worth over $300k.
Pepe Unchained is a high-utility project and is aiming to be a key player in the meme coin supercycle. It is launching a Layer-2 ecosystem designed specifically for meme coin trading, a two-click launchpad called Pepe’s Pump Pad on Ethereum and a native staking protocol, with PEPU at the core of the ecosystem.
Unsurprisingly, experts are bullish on PEPU’s upside potential, with some even eyeing up to 700x gains.
Visit Pepe Unchained Presale Flockerz (FLOCK)
Flockerz is another strong candidate for the next penny crypto to explode.
The FLOCK presale has already raised over $2.2 million, signalling strong upside potential for its launch.
The Flock has a big reason to celebrate today!
2 million and counting! Let's keep this flock growing strong, nothing can stop us now! 
pic.twitter.com/4DKl7rgBid
— Flockerz (@FlockerzToken) November 16, 2024
The meme coin was in high demand from the very start of its ICO. However, it saw a major boost following Binance’s push for more decentralized projects in the meme coin sector.
Indeed, Flockerz has branded itself as “the people’s meme coin”, thanks to its DAO governance and vote-to-earn platform. All FLOCK holders will be members of the Flocktopia DAO and decide the direction of the project with their votes on all key issues including marketing initiatives, new feature launches and exchange listing.
In exchange, they will receive free FLOCK tokens. Moreover, presale Flockerz buyers can already stake their coins and earn an annual reward rate of over 900%.
Owing to its unique value proposition, there is growing speculation among prominent traders that FLOCK could be the next 100x meme coin.
Visit Flockerz Presale Slerf (SLERF)
Slerf, one of the most remarkable presale launches in crypto history, is gearing up for another explosive rally.
For the uninitiated, the SLERF developer accidentally burned the entire presale token supply. While disastrous for the presale buyers, it meant that a project with widespread popularity had no early buyers that could dump their holdings on late joiners.
Unsurprisingly, the meme coin price skyrocketed by 5000% in an hour.
The sloth-based meme coin is now all set for a major comeback. The SLERF price is up by 130% over the past two weeks, despite a 13% correction today. Moreover, it has a market capitalization of just $178 million.
$slerf has been full beast mode since OP, the strength is undeniable pic.twitter.com/vuCdreTsrG
— Bluntz (@Bluntz_Capital) November 17, 2024
Legendary trader Bluntz believes that Slerf could see an explosive rally in the coming week and could offer up to 5x returns.
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