XRP Price Dips Despite Ripple CEO Brad Garlinghouse’s 60 Minutes Interview - Time To Pivot To Meme Coins?
Release: 2024/12/10 01:31 Reading: 836
XRP Faces Downward Pressure, Despite Ripple CEO's Appearance on CBS News' 60 Minutes
Alarm bells ring for XRP holders as the token's price seems poised for another test of the $2.24 support level, despite the appearance of Ripple CEO Brad Garlinghouse on CBS News' 60 Minutes.
Currently trading at $2.40, XRP has lost 15% from its yearly high. Adding to the concerns, whales appear to be moving their funds towards Ethereum meme coins. As XRP dips, the Pepe coin has soared to a new all-time high.
Garlinghouse's Appearance Fails to Boost XRP
Ripple CEO Brad Garlinghouse's interview on 60 Minutes failed to ignite a surge in XRP's price. While the show primarily discussed crypto's role in the election, bulls hoped XRP's mention would spark a rally.
Instead, the XRP community expressed outrage over the host's perceived misrepresentation of Ripple and the blockchain industry. Garlinghouse himself tweeted his disappointment, highlighting how the host omitted the fact that XRP is not a security, as ruled by Judge Torres last year.
Despite the unfavorable reception, XRP's mention as the third-largest cryptocurrency in the interview could attract retail investors in the upcoming bull market. Rumors also suggest that Garlinghouse may appear on Joe Rogan's podcast, further boosting potential interest.
Experts Predict Further XRP Decline
Seasoned traders emphasize the importance of securing profits during bull markets. Analysts warn that XRP spot holders may need to consider cashing out and repurchasing at a lower price.
XRP's price has approached the $2.24 support level for the sixth time in a week. With low volume and a declining high-low structure in the daily timeframe, experts fear that this retest could finally break the support.
Crypto analyst Ninja predicts a potential 30-40% correction for XRP, establishing a local bottom around $1.40 - $1.70.
Smart Money Shifts to Meme Coins
Major crypto investors are reportedly switching to Ethereum meme coins like Pepe and Floki. Pepe recently hit a new high of $0.000027, creating a promising backdrop for Pepe Unchained's launch on Uniswap on December 10th.
Meme coins, like Pepe Unchained, often have unique utility, such as the project's Layer-2 blockchain and the upcoming Pepe's Pump Pad launchpad.
With its strong community and presale performance, Pepe Unchained has attracted the attention of prominent investors who see the potential for significant returns.
Disclaimer: This article is for informational purposes only and should not be construed as investment or financial advice.
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