- Analysts highlight XRP and Floki for potential gains amid market volatility, drawing investor attention.
- XRP’s supply drops to its lowest in months, with 2.84M tokens held on exchanges, suggesting changing investor behavior.
- Crypto Tony predicts FLOKI’s price could rise significantly after a final downward move, sparking investor interest.
Despite the prevailing market volatility, XRP and Floki are capturing the spotlight with promising forecasts from analysts. In a recent X post, renowned crypto analyst JackTheRippler boldly predicted that XRP would “pump the hardest,” signaling a potentially significant price surge.
This optimistic view follows Ripple Labs’ recent legal victory against the Securities and Exchange Commission (SEC). Despite this favorable outcome, XRP has not experienced the anticipated price surge. As of now, XRP is trading at $0.474, marking an 11.43% decline this month amidst broader market challenges.
The XRP supply has plummeted to its lowest level in months, with only 2.84 million tokens held on exchanges, valued at approximately $1.34 million. This shift suggests a change in investor behavior, with fewer XRP tokens being held on exchanges. While XRP faces downward pressure, some data points offer hope.
Coinglass reports a 1.96% increase in XRP’s Futures Open Interest (OI), now at $586.25 million, although the derivatives volume has dropped by 48.82% to $578.55 million. These mixed signals in the derivatives market could contribute to XRP’s price volatility. The Relative Strength Index (RSI) for XRP stands at 38, indicating potential downside momentum. However, this could also signal a move into oversold territory, paving the way for a price rebound.
In a recent X post, renowned crypto analyst Crypto Tony shared an optimistic FLOKI forecast. The analyst indicated that a final downward move could complete the current wave, paving the way for significant gains in the coming weeks or months, contingent on the broader market performance.
In his recent analysis, Crypto Tony suggested that a final flush down in FLOKI’s price would be ideal. He explained that such a movement would set the stage for a robust upward trajectory, predicting new highs for the token. This insight has sparked considerable interest among investors and traders closely monitoring FLOKI’s performance.
As of press time, FLOKI is trading at $0.0001717, showing a 0.83% increase in the last 24 hours. Over the past week, it has seen a slight rise of 0.18%, indicating positive momentum. In the last 24 hours, FLOKI has also seen a trading volume of $244.31 million, highlighting the strong interest and activity around this token. This significant trading volume suggests that many investors closely monitor FLOKI’s performance.
