Dark Defender, a major analyst in Web3 space, shared a perspective on the Ripple (XRP) crypto following its most recent bearish price movements.
This sent a lot of attention toward the cryptocurrency, but it’s not alone, as Meme Moguls (MGLS) has also been advancing with its crypto ICO.
Ripple (XRP) to Surge Above $5 According to Analysis by Dark Defender
The Ripple (XRP) cryptocurrency is navigating bearish territory. Following its descent below the 200-day EMA, the crypto has further dipped under the 0.618 Fibonacci retracement level. Despite this downward trend, Dark Defender, a renowned crypto analyst, offered optimism for the Ripple crypto holders.
According to the chart provided by the analyst, the XRP price movements are showcased within the context of an Elliott Wave structure, which postulates that markets move in predictable, repetitive cycles. The analyst identifies the progress of ABC correction patterns within the larger cycle. The analysis suggests that the current market structure for the Ripple price mirrored a period in 2021 when the crypto surged by 1,060%
The analyst then presented two pivotal scenarios for the XRP price, anticipating a major wave up after completing the current corrective phase.
Meme Moguls (MGLS) Introduces Unique P2E Ecosystem in the Meme Coin Space
Meme Moguls (MGLS) is an upcoming Web3 platform tailored towards completely changing how users enter the ever-growing meme coin space with the introduction of Play-to-Earn (P2E) elements. Players can compete in simulated trading and learn how to utilize numerous investment strategies.
Based on data from Statista, the global meme industry, originally valued at $2.3 billion in 2020, can expand and grow to $6.1 billion by 2025.
MGLS is an Ethereum-based meme coin that serves many utility functions in the ecosystem. It can be used as the in-game currency, and players can contribute their existing tokens to the Meme Moguls staking pool.
By doing so, they become eligible for rewards based on their share and the percentage of the annual return. The presale is structured in a way where the price increases with each phase, and it’s currently in phase five.
There is also a giveaway at the end of each presale stage that’s organized through Zelay. To access it, players must join the Telegram community, follow the X page, join the Discord, and follow the project on Instagram. In addition, they can get more experience points by subscribing to the YouTube channel and inviting their friends to Zelay. Then, community members become eligible to win up to $10,000 MGLS in rewards.
The Meme Moguls presale is picking up significant momentum. Nearly $2 million have been raised already.
Visit the Meme Moguls Website to Find Out More
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The post Ripple (XRP) Projected to Spike Above $5 According to Analyst, while Meme Moguls (MGLS) Presale Advances appeared first on CryptoPotato.
