XRP Price Jumps 2% As Rumors For XRP ETFs Resurface, But Bullish Traders Are Flocking To This Crypto For Its 226% APY

XRP Surges 2%, Ignites Speculation Amid ETF Hopes

In the past 24 hours, XRP has experienced a 2% price increase, now trading at $0.5755 as of 03:34 a.m. EST. This surge comes alongside a slight decline in trading volume to $1.2 billion.

The recent listing of XRP/USD futures contracts on Bitnomial Exchange has reignited speculation about the potential launch of an XRP ETF. As regulatory clarity surrounding XRP continues to evolve, this development has fueled optimism within the crypto community.

Technical Analysis: XRP Prepares for Rebound

According to data from GeckoTerminal, XRP has broken below a rounding bottom pattern in the past week, falling from resistance at $0.64 within a falling channel. However, XRP now aims to break above this channel, currently trading above both its 50-day and 200-day Simple Moving Averages (SMAs). This suggests an upward trend for XRP.

Additionally, the Relative Strength Index (RSI) is rebounding from the 50-midline level, now trading at 51. This indicates that XRP is currently in equilibrium but shows signs of recovery as buying pressure increases. The Moving Average Convergence Divergence (MACD) also trades above the neutral line, further supporting the bullish trend.

If the bullish momentum persists, XRP could potentially reach $0.70. Conversely, if the bears regain control, XRP may retrace towards a support level around $0.50.

Meme Coin Buzz: Pepe Unchained Raises $8.6 Million

Amidst the XRP price action, enthusiasts of the popular Pepe meme have been eagerly investing in Pepe Unchained (PEPU). This new upgrade has already garnered an impressive $8.6 million in early funding.

Pepe Unchained Aims to Revolutionize Meme Coins

Pepe Unchained is positioned to surpass its predecessor, PEPE, which has rewarded early investors with exceptional returns. Unlike many meme coins constrained by the Ethereum Layer-1 blockchain, Pepe Unchained seeks to resolve scalability, speed, and efficiency challenges.

Built on its Ethereum Layer 2 blockchain, Pepe Unchained offers token holders passive income through staking, yielding an annual percentage yield (APY) of 226%.