XRP on the Verge: Consolidating Prices Signal an Impending Move
There’s a lot happening in the crypto space right now, especially as major tokens signal potential moves. XRP is consolidating within a narrowing price range.
Meanwhile, Ethereum whales have quickly accumulated over $1.6 billion in ETH. A new meme coin project, Moonshot MAGAX, is now drawing investor attention with a unique meme-to-earn ecosystem that could transform the meme coin space.
XRP Price Steadies Near $2.90 Before Breakout
XRP (XRP) is now trading around the $2.90 mark and is caught inside a symmetrical triangle pattern, with the key values between $2.85 and $3.05. This suggests that a breakout is approaching, and whatever happens determines XRP’s movement in September.
On August 29, XRP saw $57 million in its net outflows, showing that there’s weak accumulation despite all the positive news, like when Gemini announced an XRP credit card for retail adoption.
From a technical perspective, XRP’s support is clustered near $2.85, forming the lower boundary of the triangle. Analysts are saying that as long as it breaks past $3.05, it could trigger a rally toward $3.20 or even $3.50. But if XRP drops below $2.85, there’s the risk of accelerating losses to $2.70 or even $2.50.
Ethereum Whales Trigger a Rally After Hitting ATH
Meanwhile, Ethereum’s price action is being shaped by whale behavior. In the past week, large ETH holders withdrew roughly 598,000 ETH from exchanges, a haul worth about $1.6 billion. In fact, accounts holding up to 100,000 ETH bought about 312,000, and mega whales with over 100K ETH accumulated 286,000 ETH. This level of accumulation hasn’t been seen in months.
It suggests that there’s a lot of confidence in ETH right now. What’s more, institutional players are active. BitMine Immersion Technologies recently executed an OTC deal for 106,000 ETH worth around $470 billion, boosting its holdings to 1.3 million ETH. This is about 8.3% of Ethereum’s circulating supply.
Analysts are arguing that these moves show long-term interest in ETH. Looking ahead, if this whale accumulation continues, experts say that ETH could trade between $4,000 and $5,200 by 2025, although it will depend on broader market conditions.
Meme-to-Earn Ecosystem Attracts Investors to MAGAX
While the established tokens like XRP and ETH remain in focus, there’s a new project, Moonshot MAGAX, which has surprised many with its meme-to-earn model. Unlike meme coins that rely mostly on viral momentum, MAGAX combines AI-powered detection systems, smart contracts, and creator rewards into a functioning ecosystem.
Creators and promoters who produce viral meme content are automatically rewarded with MAGAX tokens, and Loomint AI uses systems to filter out authentic engagement from spam. MAGAX supports community governance and staking, so all the token holders have a say in the project’s development.
The deflationary mechanics, like token burns and staking locks, will keep the MAGAX token scarce as participation grows. And smart contracts enforce transparency, ensuring that referral programs and booster rewards aren’t manipulated.
MAGAX is set up as a meme coin with impressive utility and solves challenges like fake virality on social media and the lack of creator monetization.
Moonshot MAGAX Presale Nears Stage 2
Now that it’s in the presale stage, MAGAX is offering tokens at the lowest price they will ever be. Stage 1 pricing is set at $0.00027, and it’s already over 80% complete. With Stage 2 expected to increase the price, investors are buying in as quickly as possible.
With the predictions that MAGAX could trigger 166x ROI once it’s listed, now’s the best time to invest in the token. It represents one of the more unconventional projects in the crypto space today, standing out from other meme coins.
Be part of the Moonshot Magax Presale Community:
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