With the crypto market experiencing high levels of volatility, XRP’s (XRP) sustained decline has traders questioning its viability as a long-term investment.
Despite its clear promise, Ripple’s native token is struggling to produce positive momentum, inching closer to the crucial $0.40 level.
While some wonder if XRP will continue to underperform, a new opportunity has emerged in the form of TG.Casino (TGC) – a presale project that’s capturing the attention of investors.
Perfect Storm of Bearish Factors Prompts XRP Price Struggles
XRP’s price struggles have heightened investor concerns, especially as it has recently slipped below the vital $0.50 mark.
Several factors have contributed to its decline, including Ripple’s search for a new CFO after Kristina Campbell’s sudden departure.
Additionally, low investor participation has also hampered XRP’s progress, with on-chain data showing the Ripple network is now hovering around just 14,000 active addresses.
Although Ripple has faced regulatory scrutiny, it did manage partial legal victories in recent months, yet these have yet to translate into sustained momentum for XRP.
As such, XRP bulls are increasingly worried that the token might be doomed, given that positive catalysts haven’t resulted in a noticeable price pump.
Given these challenges, XRP desperately needs to sustain itself above support around $0.475 to prevent a further decline to August’s low.
Will XRP Fall Below the $0.40 Level By Year’s End?
Considering the bearish wave that XRP is facing, some investors are even speculating that XRP could fall below the $0.40 threshold before the end of the year.
Should this scenario play out, it would see the token return to a level that hasn’t been seen since March – representing a 16% drop from today’s price.
The fact that XRP’s RSI is below 50 on the daily time frame indicates heightened selling pressure, which could push the price down further.
Secondly, the uncertainty stemming from the fact that Ripple will be back in court against the SEC in April 2024 adds another layer of apprehension that could discourage investors from buying XRP.
Lastly, the overall sentiment within the crypto market is extremely negative, with the Crypto Fear & Greed Index falling to 45 – indicating widespread “Fear.”
Given all these reasons, it’s becoming increasingly likely that XRP could breach the $0.40 barrier unless there’s a substantial turnaround soon.
As such, there could be more challenging times ahead for XRP holders, who have already endured a rollercoaster of emotions this year.
As XRP faces a precarious future, traders are broadening their horizons in search of projects with better prospects.
One such alternative catching the eye of investors is TG.Casino, a new presale project that looks primed for explosive growth.
TG.Casino’s TGC Token Offers Passive Income & Growth Potential at a Fraction of XRP’s Price
TG.Casino (TGC) is a decentralized, Telegram-powered casino currently in its presale phase, with tokens available for just $0.125 – significantly lower than XRP’s price.
This token forms a crucial part of the TG.Casino ecosystem, serving as both a utility token and a way for holders to generate a passive income stream.
Holders can stake TGC to earn a whopping 624% APY – far higher than most comparable staking protocols.
Moreover, TGC will serve as the heartbeat of TG.Casino, offering users access to a wide range of gaming options, from slots to traditional casino games and even a comprehensive sportsbook.
Capitalizing on Telegram’s massive user base of over 700 million monthly active users (MAUs), TG.Casino aims to provide a seamless user experience, with no KYC requirements and a full license from Gaming Curacao.
The casino also plans to allocate a portion of its daily profits to buy back TGC tokens from the open market, with these tokens then helping fund staking rewards.
Notably, 40% of these repurchased tokens will be burned – a setup designed to boost TGC’s value by reducing the total supply.
Given the market volatility plaguing established tokens like XRP, TGC stands out as a potentially more stable avenue for growth in the latter months of 2023.
With its solid use cases and rapidly growing Telegram community, TGC could be worth considering for those seeking to diversify their portfolios in the near term.