Quick Facts:
$XRP is one of the best performers among heavy-cap cryptos this week.
Multiple factors indicate that $XRP’s recent surge might be short-lived. It could be a while before it reclaims its all-time high of $3.65, since the rise in open interest could swing either way.
For instance, the OI-weighted funding rate has declined, revealing that confidence in $XRP will be fragile in the absence of a significant broader market shift. Short positions likely anticipate another test of the key support level at $2.18.
That partly explains the renewed activity in the derivatives market, which dropped to $3.49B on October 19 – its lowest point since late April.
Backed by a non-custodial wallet that boasts hundreds of thousands of downloads on iOS and Android devices, it’s clearly not just the token’s low presale price that’s drawing interest.
While institutional giants can afford to buy $BTC and $XRP for a fortune, retail investors are playing a completely different game. For them, the smarter bets are emerging coins with much lower market caps.
$BEST tokens play a key role in fueling this ecosystem, which looks beyond crypto storage and towards driving retail crypto adoption. For holders, it unlocks privileges like early access to vetted presales, lower fees, higher staking rewards, and voting rights.
Being anchored to a thriving ecosystem with a growing user base, the token is expected to take off following its upcoming launch, making the current presale deal too good to ignore.
But more importantly, organic demand could underpin the token’s value during volatile periods.
For early investors who buy the token at $0.025865 in the current presale phase and grab the 79% staking APY, that leaves room for jaw-dropping returns.
Being a presale, however, the price rises in stages, while the staking APY lowers as more holders join the staking pool. And the next price surge is just a day away.
As always, do your own research before investing in crypto. This is not financial advice.
