#Cryptocurrency, #Ripple, #XRP, #CryptoAnalysis, #DarkDefender, #MemeMoguls, #MGLS, #Presale
Dark Defender, a prominent analyst operating in the Web3 area, recently provided interesting insights into the Ripple (XRP) crypto. This comes following a bearish trend in Ripple’s market price, inducing a heightened interest in the cryptocurrency market. In tandem with Ripple, Meme Moguls (MGLS) is also making strides in garnering investors’ attention as it proceeds with its upcoming Initial Coin Offering (ICO).
Despite Ripple (XRP) navigating bearish territory by slipping under the 200-day EMA and the 0.618 Fibonacci retracement level, the situation remains optimistic according to Dark Defender. The globally renowned crypto analyst shared an analysis indicating potential upward price shifts of XRP. His chart exhibits the price movements within an Elliott Wave structure, suggesting the market moves in repetitive cycles. Dark Defender identifies the progression of ABC correction patterns within a larger cycle, hinting an upcoming surge similar to the one Ripple witnessed in 2021 when its price shot up by 1,060%.
As per Dark Defender’s prediction, the XRP price may see a significant rise after the completion of the correction phase. He presented two potential scenarios for that scenario, offering a silver lining to the Ripple crypto community. In addition, an innovative Web3 platform, Meme Moguls (MGLS), is revolutionizing the current dynamics of the meme coin space by infusing Play-to-Earn (P2E) elements. The platform promotes competition in simulated trading and provides opportunities to learn various investment strategies. The Ethereum-based Meme Moguls token (MGLS) has numerous utilities within the ecosystem, including serving as an in-game currency. It offers a model that rewards players who contribute their tokens to the Meme Moguls staking pool. The global meme industry is projected to grow from $2.3 billion in 2020 to $6.1 billion by 2025. As such, MGLS is poised to tap into this growth and has raised almost $2 million so far.
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