Crypto news and price analysis for Monero (XMR), Ripple (XRP) and Pepe Coin (PEPE)

What’s the news and price performance of crypto assets Monero (XMR), Ripple (XRP) and Pepe Coin (PEPE)? 

A look at their most recent performance below. 

Analysis of Monero (XMR), Ripple (XRP) and Pepe Coin (PEPE)

It is worth mentioning that Monero (XMR) is a cryptocurrency created in April 2014 that focuses on privacy, decentralization, scalability, and fungibility. In addition, its original name was BitMonero and then it simply became its current name. 

Ripple (XRP), on the other hand, is a real-time funds transfer system, a network for currency exchanges and remittance sending, created in 2012 by Ripple Labs, then OpenCoin.

Finally, the PEPE memecoin, launched on 17 April, has reached a market capitalization of $139 million in a very short time. However, the founders stressed that it is a meme coin with no intrinsic value or expectation of financial return. 

Monero continues upward trajectory in bear market: comparison with Ripple and Pepe Coin 

Based on the latest data, it can be seen that given the rising buying momentum, the latest analysis of the price of Monero (XMR) suggests a bullish trend for today. As we know, the value of the coin continued to decline during the past week, a factor that had a negative impact on the market. 

In fact, sellers were in control of XMR as it had difficulty gaining support. However, during yesterday’s trading day, the bulls came back and recovered perfectly. Thus, even today the trend is in favor of the buyers as the price rose during the day, reaching $157.44.

It is worth noting that although the increase is minimal, the crypto Monero still continues an upward trajectory in a market that is largely bearish. Hence, since the price of Monero covered a higher movement during the previous 24 hours, the daily price analysis supports a bullish trend for the market. 

However, it is still slightly below its moving average (MA) value, which is at a position of $157.98 after crossing the SMA 50 curve, which is another bearish indication. 

The coin’s value has risen 0.85% over the past day, while trading volume has increased more than 16.9% for today, indicating modest value gains. In essence, experts predict that the next price events will be bullish, given the size of the region between the Bollinger bands. 

We see that the lower band shows a value of $152, with stronger support, and the upper band shows a value of $165, reflecting resistance, as price continues to rise. 

In addition, the SMA 20 curve is trading below the SMA 50 curve, despite the fact that bullish people are in a leading position. Finally, the relative strength index (RSI), which indicates a market link between buyers and sellers, is currently trading with a horizontal slope of 49.

Ripple races toward success despite market turmoil 

As we have seen, the recent collapse in the price of Ripple (XRP) has attracted the attention of investors and analysts, specifically raising questions about the future of Ripple and its native crypto.

However, there are key factors highlighted behind Ripple’s price volatility and growth prospects in the European market that could shed light regarding XRP’s continued success despite short-term market turmoil.

In any case, it is undeniable that XRP, like other cryptocurrencies, has experienced significant price fluctuations in recent days. Ripple’s recent price collapse can be attributed to factors such as low trading volumes in the cryptocurrency market and regulatory pressure.

Which has even seen trading volumes on the world’s largest cryptocurrency exchange, Binance, measured against a bearish market. As a result, the price of XRP has also been significantly affected by the bearish sentiment prevailing in the broader market. 

According to some, this has also been fueled by regulatory ambiguity as a result of the failure of the chairman of the Securities and Exchange Commission (SEC) to respond to congressional requests.

In any case, experts say it is Europe that represents a huge market opportunity for Ripple, with a growing number of financial institutions adopting its technology.

Technology that includes a progressive regulatory environment in the region, high demand for cross-border payment solutions and strategic partnerships with major financial players. All factors that position Ripple well to capitalize on the potential of the European market, offsetting any short-term challenges posed by XRP price volatility.

Pepe Coin: the memecoin which became a valuable digital asset 

As anticipated, Pepe Coin is a new memecoin entering the market as a competitor to existing memecoins. PEPE’s market capitalization has risen to about $146 million with over 24,500 unique holders since it started trading, which was a few days ago. 

Specifically, according to CoinMarketCap, the price of PEPE has increased by 1000% in the past two days. On the surface, PEPE might seem like just another hype-generating memecoin, though a full on-chain analysis shows its astonishing development. 

Indeed, as pointed out by analyst An Ape’s Prologue, the price increase has led to huge gains for the memecoin whales, who have amassed nearly 30 trillion PEPE, worth about $10 million across thirteen accounts.

This all translates immediately to the fact that Pepe Coin has had a huge impact on the growing meme economy. Once again how popular memes can evolve into digital assets with real-world value and attract thriving communities. 

Pepe Coin brings to light, once again, the growing influence memes are having on today’s online and financial landscapes. Indeed, PEPE is a living example of the social significance memes have in today’s culture as a result of their incorporation into the mainstream.