Takeaways:

• Ripple could not hold above a key performance line and dropped to $2.20 on Wednesday.
• $XRP continues to trade below short-term support and could crash below $2.
• While it could recover in the long term, positive news for $XRP hasn’t meaningfully changed the price.
• Some traders are looking to $PEPENODE as an alternative for investment.

The future of $XRP is looking a little uneasy after it bounced off the $2.60 line and dropped below $2.20, testing the confidence of $XRP holders. This, amid signs that $XRP’s price could end up barreling down towards the $1 mark.

After hitting lows around $2.20 on Wednesday night, $XRP has recovered slightly to $2.38 and could begin pulling back to its short-term support level. However, attitudes are growing increasingly bearish on $XRP’s short-term performance as the crypto market as a whole continues to flounder.

By failing to recover at $2.60, $XRP continues to trade under the 50-day moving average and may now test $2 in the coming days. Not only is $2 an important technical barrier below long-term support but also a psychological one that could send traders spiraling into a selling frenzy.

In the long term, $XRP could recover news of additional adoption from institutional users. Ripple CTO David Schwartz recently announced that he’ll be advising Evernorth, a Strategy-style treasury for $XRP. However, the news has yet to make a significant impact on $XRP’s price.

PEPENODE – Build Your Own Virtual Mining Rig and Earn Rewards

$PEPENODE is the native meme coin of the PEPENODE project, which will let you set up your own virtual mining rig and earn crypto rewards through its gamified mine-to-earn gaming platform.

If you’ve ever wanted to experience the thrill of mining crypto but don’t fancy investing in costly hardware, never mind astronomical electricity usage and learning the technician know-how, PEPENODE fills the gap.

Crypto mining has always been heavily skewed towards whales. Early adopters got in while $BTC was cheap, and used their profits to grow large Bitcoin mining empires. As a result, mining proof-of-work tokens is unapproachable unless you’re already an expert with deep pockets.

The PEPENODE platform handles all of the asset distribution on-chain, so you’ll always be able to access your nodes and $PEPENODE – even if you want to sell the nodes you already have and cash out some of the $PEPENODE you’ve spent on them.

That’s right, the whole game revolves around spending and earning the $PEPENODE token. When you buy more expensive servers, you’ll get a better rate on the $PEPENODE you generate. You can also upgrade your existing nodes, mixing and matching to find the ideal generation rate for your server room.

Like the Bitcoin gold rush, early PEPENODE adopters will be able to capitalize on their early investments when the game goes live. The $PEPENODE presale currently offers staking rewards of up to 671% APY, which will be available after the presale ends, so you can buy more servers out of the gate.

Success in the PEPENODE economy rewards you with more than just $PEPENODE, too. Once the game is out of development, the PEPENODE devs will create a leaderboard for the top performers, where you can compete with other miners on the platform for rewards in meme coins like $PEPE and $FARTCOIN.

While the $PEPENODE presale is still in the early stages, there’s been some serious interest in the token. It’s already raised over $1.9M and climbing, pushing the presale price up to $0.0011138.

Remember though, presale prices go up in stages, with the staking APY lowers as more holders stake their tokens. Plus, the more $PEPENODE you have before the game goes live, the bigger leg up you’ll have over other players.

Buy $PEPENODE today and stake it for 671% APY.