Ripple (XRP), BONK and PEPE Could Suffer More Losses, Cryptocurrency Traders Protect Themselves with Hidden Ethereum Token
CoinMarketCap data shows that XRP has fallen since last week. XRP is trading at $0.565, down 3.60% since last week.
Prominent tokens such as XRP (XRP), Bonk (BONK) and Pepe Coin (PEPE) are facing a bloodbath as the cryptocurrency market experiences turbulence.
In response to this, savvy cryptocurrency traders are looking for safer alternatives in order to hedge their investments. One such option is gaining traction: RCO Finance (RCOF), a lesser-known Ethereum-based token.
Amid Recent Downtrend, XRP Community Leader Exposes Misinformation
On August 14, 2024, a leading figure in the XRP community, Eri, denounced certain cryptocurrency publications for spreading misleading content that targets XRP investors. Eri, who hosts one of the leading YouTube channels on cryptocurrencies, criticized these media outlets for promoting questionable tokens like CFT through the publication of misleading reports. He highlighted a recurring false narrative that claims that the United Arab Emirates and India are using XRP to trade oil instead of the U.S. dollar.
Meanwhile, some experts are skeptical as XRP is trading near its 20-day EMA at $0.57, indicating it could swing either way. If the market turns bearish, XRP could fall as low as $0.540.
Baseball United Partners with BONK DAO for 2025 Season Amid Volatile Market Conditions
On August 16, 2024, Baseball United, the pioneering professional league focused on the Middle East and South Asia, announced BONK DAO as its official presenting partner for its inaugural 2025 season. As the Dubai-based league prepares to launch the region’s first major baseball competition, this partnership marks a significant step forward. Despite this news, BONK has been on the decline of late.
BONK’s price is currently down 14.09% from last week, trading at $0.0000176, according to data from CoinMarketCap. Despite BONK’s decline, trader interest is growing. The MACD technical indicator also shows that BONK could break out in the coming weeks, reaching $0.0000218.
On the other hand, as the Relative Strength Index (RSI) remains below its neutral line of 40, some experts have taken a bearish stance on BONK. According to them, BONK could fall to $0.0000167 in the near future.
Whale Traders Make Profits Amid Market Difficulties PEPE
Recently, several whales have sold their substantial holdings, turning their digital assets into significant profits. This trend is a reflection of a broader movement among large-scale investors to lock in profits in a volatile cryptocurrency market. On August 14, Lookonchain data revealed that a prominent trader sold 420 billion PEPE tokens, netting $3.16 billion.
Despite the impressive sell-off, the trader made a relatively paltry $30,000 after purchasing the token for $3.13 million earlier in the month. The move underscores the cautious approach some investors are taking. They are opting to take advantage of volatile market conditions rather than wait for potentially larger gains.
Meanwhile, PEPE has had a tough time in the market. It is currently trading at $0.00000719, down 14.73% from last week. Due to the recent symmetrical triangle breakout in a large red candle, some analysts expect PEPE’s struggles to continue. This implies a bearish breakout and PEPE could soon fall to $0.00000680.
RCO Finance Sparks Investor Interest
RCO Finance is disrupting the cryptocurrency world with a different vision of decentralized finance. RCOF aims to provide exceptional financial solutions that adapt to the changing needs of its users, unlike most other projects that simply replicate existing models. Recent reviews have highlighted RCOF as a promising investment, especially with its ongoing token pre-sale.
By Audy Castaneda