Bulls eye 30% profit for Christmas

XRP price is trading within a key demand zone after gaining more than 2% over the past 24 hours and trading at $0.3915. Global payment tokens have surged nearly 10% over the past week to a market cap of $19.69 billion.

Cryptocurrency market capitalization increased 2.02% over the past 24 hours to $838.02 billion, with the top cryptocurrency gaining early in Asian trading hours on Tuesday. The total volume of the crypto market reached $47.81 billion during the same period, he increased by 4.09%. data From Coin Market Cap.

Total cryptocurrency trading volume in the decentralized finance (DeFi) sector is currently at $3.13 billion, accounting for 6.55% of the total 24-hour trading volume of the cryptocurrency market. Currently, the volume of all stablecoins is $45.92 billion, accounting for 96.04% of the total 24-hour cryptocurrency market volume.

24 Hour Price Fluctuations for Top Cryptocurrencies

At the time of writing, the flagship cryptocurrency, Bitcoin, was trading at $16,493 after gaining 1.7% over the past 24 hours. Similarly, the most valuable altcoin, Ethereum, followed the lead of the pioneer cryptocurrency, rising 3.5% on the day to take him just above $1,213.

Other top cryptocurrencies by market cap are also flashing green, with exchange crypto Binance Coin (BNB) up 3.28% to $304 on the day and Dogecoin (DOGE) up 7.89%. It’s now $0.1027. Cardano (ADA) was up 1.96% and Polygon (MATIC) was up 2.5%, trading at $0.3117 and $0.8417 respectively.

top 10 ciphers

Fantom (FTM), Huobi Token (HT), and Chainlink (LINK) were the top 100 cryptocurrencies leading the crypto market recovery on Tuesday. FTM price jumped 13.28% to $0.2151, HT price jumped over 10.59% to $6.90, and LINK price jumped nearly 8.71% to $7.40.

Cello (CELO), Convex Finance (CVX), UNUS SED (LEO) Three of the top 100 coins that have lost the most value in the last 24 hours. His CELO, who was the top gainer the day before, has lost more than 3.37% and he is trading at $0.621. CVX is down 2.91%% to trade at $3.99. At the same time, the price of LEO fell by more than 2%, trading at $3.81.

China’s easing of Covid-19 restrictions could start a recovery

Cryptocurrency prices appear to be recovering after protests over another Covid 19 lockdown in China. Demonstrations that began late last week were reportedly sparked by complaints from Chinese citizens who felt Covid restrictions were too strict and called on China’s President Xi Jinping to step down.

It was an unusual event for the world’s most populous country, with government officials and security services attempting to quell protests in at least eight cities.The uprising is seen as a direct threat to the ruling Communist Party. .

Destroying China – Protesters in Shanghai bravely rallied to demand the end of the Communist Party and the resignation of President Xi.

China has 1.4 billion citizens and over 500,000 “quarantine cells” all focused on China…

pic.twitter.com/eOLzpp18lx

— Bernie Tweet (@BernieSpofforth) November 27, 2022

Protesters are opposing the Chinese government’s famous zero-Covid policy, which is still in place more than three years after the pandemic. As a result, public disobedience has emerged in mainland China since President Hu Jintao took office more than a decade before him.

Demonstrations have now spread to other cities, including the capital Beijing and numerous university campuses. They represent the broadest expression of dissatisfaction with the ruling party by Chinese citizens in decades.

The global economy is still struggling to recover from the impact of stringent Covid-19 regulations set by governments around the world. As such, what happens in China, the world’s second largest economy, will have a significant impact on global financial markets, including digital assets. This is because investors move to protect their investments. Stocks and cryptocurrencies are risk-on assets, so they showed bearish price action in response to the uprising in China.

However, a long-awaited recovery may be underway as the Chinese government moves toward normalization at home. A press conference was held in Beijing on Tuesday by the Joint Prevention and Control Mechanism of the State Council of China. It was widely expected that China would announce the lifting of its zero-corona policy at a press conference.

according to the media reportthe board seems to have relaxed some of its rules by confirming that “high-risk areas” are only “limited to individual buildings” rather than entire neighborhoods or cities. “The chain of transmission is unclear and only after a thorough evaluation can larger areas be designated as high-risk,” the association said.

Regarding the changes to the Covid Zero Policy, council spokesperson Mi Feng said:

“Since the beginning of the COVID-19 epidemic, the Chinese government has adjusted prevention and control, research, summary and policy according to the characteristics of the virus subspecies and the practical understanding of clinical treatment. …We have studied and constantly adjusted our prevention and control measures to best protect the interests of our people and minimize the impact of the epidemic on our economic and social development.”

Market participants expect the development to ease tensions among investors who have been selling off risk-on assets after news of the Chinese protests broke. A recent communication from the State Council could provide a bullish push for cryptocurrencies, including XRP.

XRP price is poised to take big profits

XRP price broke resistance at $0.40 on Nov. 24, but buyers did not have enough strength to sustain higher levels. As a result, cross-border remittance tokens fell below the above levels.

Note that XRP was trading at $0.3915, just on the edge of the critical demand zone that extends from $0.377 to $0.393 (green band). Recall that this demand area served as a starting point when the cryptocurrency surged a staggering 42% from $0.39 to a high of $0.55 between September 21st and 23rd.

Demand pressure from this sector could provide the necessary headwinds to propel XRP prices higher. Additionally, the latest developments from China bring much-needed volatility and spark a sustained recovery. There is a possibility.

In such a scenario, the XRP price bulls will attempt a higher push to gather liquidity for a buy stop above the high of $0.5119. Such a move constitutes a 31.4% uptick from current prices, which could limit XRP’s rise.

XRP/USD daily chart

On the downside, moving averages and the Relative Strength Index (RSI) are on the downside, suggesting that XRP price action is still in favor of the bears. A price strength of 46 means that sellers are slightly stronger than buyers.

As such, the price of XRP is likely to drop from the current price and break below the $0.377 support level acceptable to the lower bands of the demand zone. If this happens, it would invalidate a bullish thesis in development that could see the token slide to the $0.3193 support floor, allowing buyers to regroup and buy XRP at a discounted price.

Even if market participants are waiting for a directional bias in cryptocurrency prices, they may be looking at other investment options to not only increase their return potential but also have the opportunity to diversify their cryptocurrency portfolios. It is important to consider

Dash 2 Trade and RobotEra are part of projects that are currently in pre-sale and will offer promising returns with future growth potential once they are listed on exchanges in the near future.

dash 2 trade (D2T) is a decentralized exchange built on the Ethereum blockchain and is expected to launch early next year. So far, the team behind D2T has raised his $7.4 million, with 85% of the tokens already sold during Stage 3 of the presale. In the fourth and final stage of the presale, the D2T price will rise to $0.0533.

Robo era (TARO) is an Ethereum-based sandbox metaverse slated for alpha release in Q1 2023 that allows players to build and play as robots in virtual worlds based on NFTs. robot age Nearly $274,000 was raised in an ongoing presale, crossing the $250,000 milestone.

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