XRP Price Predictions:
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🔴 Warning of a bearish reversal in XRP price
A double top pattern is forming at a price of $3.66, raising concerns about the end of the recent bullish wave.
The Altcoin Season Index has dropped from 59 to 43, indicating a decline in overall momentum in the altcoin market.
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🟢 Potential supporting factors for continued upward movement
Despite the decline, the overall bullish trend for XRP remains intact, and the price at $2.79 may be a strong support point.
Momentum indicators:
The RSI shows a recovery from an oversold condition.
The MACD is approaching a positive golden cross.
If support holds at $2.79, the price may return to test $3.66, with a potential rise of 30% towards $4.
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⚖️ Regulatory and legal incentives
The GENIUS Act has been signed, and the CLARITY Act is expected to be passed in October.
These laws differentiate cryptocurrencies based on their degree of decentralization, which may give XRP the legal green light.
Institutional demand remains low, awaiting clarity on regulations, due to the legal battle with the SEC.
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🔍 XRP in the shadow amidst new narratives
Despite the gains, XRP has not been at the forefront of the "hot narratives" like meme coins and new projects.
Example: Token6900, a meme coin project that offers no utility or promises, yet attracts investors with the spirit of "escaping the traditional financial system".
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