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XRP (XRP) is down by 25.2% this week following the Crypto Summit’s announcement of stablecoin legislation. This announcement garnered mixed reactions, failing to ignite enthusiasm in the crypto community and leading some of the market’s most popular coins into a steep decline. Amidst the sluggish market, can XRP still reach $5 soon?
As XRP tries to break $5, the new altcoin JetBolt (JBOLT) is gaining surging momentum, with over 340 million tokens already sold since its early bird phase started. JetBolt continues to wow crypto whales and enthusiasts with its zero-gas technology powered by Skale Network, which offers an innovative solution in the blockchain space.
Can XRP break out of its current bearish trend? And what’s driving the whale mania around JetBolt? Let’s discover.
XRP (XRP) is trading at $2.20 today, having seen a 6.3% drop in the last 24 hours and a 9.0% decline this month. Despite these setbacks, many market observers are still wondering if XRP could still hit $5 in the near term.
However, some less bullish analysts suggest that the coin may be on the brink of a further 30% decline, especially if XRP forms a "head and shoulders" pattern. If this bearish pattern plays out and XRP reaches its neckline, the coin could face a 24% correction, bringing the price down to $2. On the other hand, if XRP breaches the third wave, the price might fall further to $1.50.
Despite the bearish forecast, some XRP analysts remain optimistic that the coin could still acquire support at the neckline. If the weekly close takes place at the center of three waves, XRP could still break out from this bearish pattern. XRP is currently testing resistance at $2.82, with a key support of $1.83. If XRP breaks above the first resistance, it will encounter another resistance at $3.13.
So, can XRP hit $5? If the coin surpasses major resistance levels and milestones, sustains bullish momentum, secures more whale activity, and acquires more development news from the Crypto Strategic Reserve, XRP could hit $5 by mid-2025. Additionally, if Ripple possibly resolves its ongoing legal case against the Securities and Exchange Commission (SEC) and gains another spot exchange-traded fund (ETF) approval, it could further support this goal. However, market volatility and the longstanding legal battle against the SEC could still prevent XRP from reaching $5 soon.
While XRP attempts to hit its ambitious $5 goal, the new altcoin JetBolt (JBOLT) is rising to the top of crypto conversations with its trailblazing presale, having sold over 340 million tokens so far. JetBolt isn't just any emerging token, as it offers a perfect blend of cutting-edge blockchain features and innovative solutions of zero-gas technology.
Powered by the ultramodern Skale Network, JetBolt’s zero-gas technology completely removes gas fees for all on-chain transactions. With this advanced Skale tech, developers can seamlessly work on decentralized applications (dApps), blockchain gaming, and other Web3 projects without the burden of paying sky-high gas charges.
Apart from its gas-free transaction edge, JetBolt offers a more streamlined login experience for its token holders through its sleek Web3 wallet, which utilizes biometric and facial recognition features.
On top of that, JetBolt also comes with lightning-fast transactions and near-instant finality, providing a more seamless experience for all.
JetBolt also harnesses the power of artificial intelligence (AI) to deliver crypto news. This AI-powered utility displays blockchain news and stories, as well as Web3 content, automatically categorizing them based on bullish, neutral, or bearish sentiment.
More than its tech features, JetBolt also offers enthralling and irresistible perks, drawing more attention from whales and buyers. Early adopters can get more tokens by purchasing Alpha Box packages—treasure chests that grant up to 25% bonus tokens. What further fuels JetBolt's buying frenzy is its daily price increases during its ongoing presale, creating a sense of urgency for buyers to get a slice of JBOLT tokens.
With its zero-gas tokens, AI tech, and impressive presale momentum, JetBolt is rapidly gaining traction in the Web3 space, emerging as one of the most exciting next-gen altcoins to watch.
Despite the current sluggish trend, analysts are still optimistic that XRP could reach $5 if the coin acquires favorable market conditions and avoids bearish patterns. As XRP tries to overcome the challenging factors in reaching $5, the new altcoin JetBolt (JBOLT) continues to surge with its presale that has already sold over 340 million tokens to this day. With its cutting-edge zero-gas technology, a Web3 wallet, and AI utility, more whales and altcoin buyers are drawn to JetBolt.
This piece is not trading or financial advice. All cryptocurrencies are highly volatile and the crypto market can shift rapidly. Please do your own research (DYOR) and assess the risks before acquiring or trading any cryptocurrency.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
