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Top Crypto Trader Says Don’t Long XRP At Today’s Price, Buy New Meme Coin Alternative

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The crypto markets have seen intense volatility in recent days, with major cryptocurrencies like XRP (XRP) seeing significant price swings.

According to top trader Crypto Tony, now is not the time to go long on XRP, as the technicals suggest it could fall further before finding a bottom.

However, Crypto Tony did shout out an alternative coin called Meme Kombat (MK) that is in its presale and could see sizable gains once launched on the open market.

Crypto Tony Warns Against Longing XRP At Current Levels

One of the most prominent voices in the market recently has been Crypto Tony, who boasts an audience of over 349,000 people on Twitter.

Earlier this week, Tony tweeted that XRP was struggling to hold support and advised traders not to long XRP yet.

As shown in his tweet, Tony believes the $0.61 level has acted as resistance in the past and could see selling pressure.

His chart shows that XRP has used this level as support in the past, meaning there’s likely to be a high volume of limit orders in the area.

Until the bulls can reclaim $0.60 and flip it to support, Tony believes it’s too risky to long XRP from here.

This analysis appears to be proving accurate, with the XRP price struggling since Tuesday morning.

While some crypto advocates remain hopeful of an XRP recovery, the bearish momentum is still quite strong according to on-chain metrics.

XRP’s trading volume has sank 13% in the past 24 hours, with the token now trading 34% lower than July’s high.

DFSA Approval Provides Clarity & Legitimacy for XRP in Dubai

While the short-term technical outlook may be bearish for XRP, a recent development could support the token’s price over the longer term.

A potentially bullish catalyst came this week when the Dubai Financial Services Authority (DFSA) announced that it has recognized XRP as an approved virtual asset.

The DFSA oversees the Dubai International Finance Centre (DIFC), a special economic zone with over 4,000 companies.

By giving XRP official approval, financial institutions in the DIFC can now carry out transactions using XRP.

This is a significant step forward in terms of regulatory clarity and legitimacy for the token.

Ripple, the company behind XRP, welcomed the news, with CEO Brad Garlinghouse saying that the move demonstrates Dubai’s “pro-innovation approach.”

While the bearish sentiment may persist in the short term, this announcement could pay dividends in the future. 

New Meme Coin ‘Meme Kombat’ Tipped As Low Cap Gem

While debates rage on about whether XRP will go down or up, some newer meme coin projects are gaining traction among crypto enthusiasts.

One in particular drawing attention is Meme Kombat (MK), which markets itself as an innovative crypto gaming platform designed for meme coin lovers.

Meme Kombat combines the popularity of memes with competitive gameplay, featuring battles between meme-inspired characters.

Top trader Crypto Tony recently endorsed the project, calling attention to its doxxed team and high staking rewards.

Powered by the Ethereum blockchain, Meme Kombat uses its native MK token for battle arena betting, staking to earn daily rewards and more.

With meme coins still in high demand worldwide, Meme Kombat’s unique spin on the concept while providing real utility could help it stand out in the ultra-competitive market.

The project’s presale is currently ongoing, allowing early participants to get in on the ground floor before the platform’s official launch.

Many in the Meme Kombat Telegram community believe this could be a wise move, given the considerable buzz around the project.

Prospective investors can buy MK tokens for $0.183 through the presale at – so far Meme Kombat has raised over $1.1 million in just five weeks.

While still early in its roadmap, Meme Kombat shows clear promise and reflects the growing interest in crypto gaming.

Visit Meme Kombat


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