Current market position
On July 24 this year, Ripple (XRP) was trading at $0.62826 with a market cap of $34.82 billion. Amazing, right? On the other hand, Chainlink (LINK) was priced at $13.86.
Recent performance
The past month has seen some unexpected price action for XRP. The chart shows that XRP saw a sharp rise in early July and has since climbed steadily. Despite this volatility, XRP has remained relatively stable recently.
The Chainlink price chart above shows a more consistent pattern over the same period. Since the beginning of July, the cryptocurrency has been trending upward with occasional bouts of volatility.
technical analysis
Ripple’s indicators show that the 50-day SMA is $0.498948, while the 200-day SMA is slightly higher at $0.553138. This closing price suggests that its price is hovering around the moving averages. Moreover, the 14-day RSI is 65.55.
Chainlink’s indicators show a more bearish trend: the 50-day SMA is at $14.27, while the 200-day SMA is higher at $15.77. This divergence suggests that its price is trending below its long-term moving averages.
Price Prediction
Ripple (XRP) Price Prediction
5 days: $0.730528
1 month: $0.729327
Ripple price prediction presents a mixed outlook. A slight uptick in the short term is expected over the next five days. This could be due to market speculations about upcoming events.
Unfortunately, this surge may not last long, with a small decline expected within a month.
Chainlink Price Prediction
5 days: $13.18
1 month: $23.97
Chainlink’s price prediction is more optimistic than XRP’s, which is evident at this stage. The predictions suggest a short-term drop followed by a sharp rise within a month. This is very interesting.
This positive outlook is supported by Chainlink’s solid fundamentals and the development of network upgrades.
Ripple and Chainlink price predictions show different trends. While Chainlink’s outlook continues to be positive, Ripple is more volatile and has short-term growth potential.
Factors Affecting Ripple and Chainlink Prices
The following are the factors that influence the price of Ripple and Chainlink:
Ripple (XRP)
The ongoing Ripple vs. SEC lawsuit has impacted the price of XRP.
Speculation about a possible settlement has intensified.
Rumors of possible crypto-friendly policies have fueled speculation.
A settlement could remove uncertainty and boost the price of XRP.
Chainlink (LINK)
Prices are affected by technological advances.
Adoption across various industries plays an important role.
Will not face the same regulatory challenges as Ripple.
Price predictions are more optimistic due to fewer regulatory concerns.
Ripple and Chainlink price predictions for August 2024 show different paths. While both are expected to grow, Chainlink’s predictions are significantly more optimistic.
