2023-5-31 18:30 |
Amidst the ongoing turbulence within the crypto market, Ripple ($XRP) is sparking renewed optimism, with the token’s price rising 13% in the past week.
Pro-XRP attorney John Deaton and crypto analysts are now speculating that $XRP could continue its bullish ascent to the $2 level, which hasn’t been seen since January 2018.
While $XRP is soaring, new meme project Wall Street Memes ($WSM) is also making substantial strides in the market, surpassing $1 million in its presale in under four days, while AiDoge and yPredict are also being backed by traders.
Ripple Rides the Wave of Positive Legal DevelopmentsThings are finally beginning to look up for $XRP holders, with the token’s price now hovering just above the crucial $0.50 region.
Price hasn’t ventured above this region since mid-April, yet broke through it easily just hours ago, thanks to the aggressive bullish momentum that began on May 25.
Data from CoinMarketCap reveals that Ripple is now the seventh most-traded crypto over the past 24 hours, with more than $1.3 billion worth of $XRP exchanging hands.
In addition, sentiment analysis from CoinGecko demonstrates that more than 89% of users are “feeling good” about $XRP today.
One of the main drivers of this positivity is a recent legal victory. US District Judge Analisa Torres denied the SEC’s motion to seal certain records which could jeopardize their case against Ripple.
This was seen as a massive win for Ripple since the records in question related to a speech from former SEC director William Hinman, in which he categorically stated that Ethereum ($ETH) does not qualify as a security.
Ripple’s legal team can now use these documents in their defense, potentially arguing that if Ethereum isn’t classed as a security, then $XRP should not be either.
$XRP Poised to Hit $2 as Analyst Speculation MountsUnderstandably, this boost to Ripple’s case has translated into significant price gains for $XRP as the investment community clamors to get involved in the event that Ripple wins.
Should Ripple win, it would likely lead to overwhelming bullish momentum for $XRP – given that the uncertainty emanating from the ongoing litigation has been a major stumbling block for the token’s price.
This is the basis for the optimism shown by many crypto analysts – with several speculating that $XRP could soar to the $2 level, should the case’s outcome be positive. These include pro-XRP attorney John Deaton.
If this were to occur, it would represent a 293% increase from today’s price.
While the buzz around $XRP’s prospects is undoubtedly rising, bulls must still be wary of the resistance zone located around $0.54.
This zone has been rejected four times since September 2022, so breaking through will be a crucial hurdle for $XRP’s upward trajectory.
Community-Powered Phenomenon Wall Street Memes Captures Investors’ Attention & Raises $1.2mWhile Ripple’s upward trajectory continues to make headlines, it’s not the only token gaining traction.
New meme coin project Wall Street Memes ($WSM) is also piquing the interest of crypto investors worldwide, having raised a staggering $1.2 million in less than four days.
Investors have been itching to get their hands on $WSM through the project’s presale, given that the token is being offered at a low price.
Currently, $WSM can be purchased for $0.0256. However, the Wall Street Memes presale will have 30 stages, each featuring a progressively higher price – incentivizing interested investors to get involved as early as possible.
One of the biggest catalysts for the incredible reception to this presale is the power of the Wall Street Memes community. This massive community stands at over one million “degens,” spread across Instagram and Twitter.
Wall Street Memes’ community was born out of the unprecedented success of the developers’ Wall St Bulls NFT collection – which raised $2.5 million after selling out back in 2021.
Now, Wall Street Memes’ team is looking to tokenize the community and give back – allowing them to financially benefit from future growth.
With the Wall Street Memes Telegram channel seeing a massive influx of new members and the project’s roadmap laying out plans for major exchange listings in the coming months, it’s no surprise that investors are flocking to secure $WSM tokens.
Visit Wall Street Memes Presale
AI Project yPredict Building Trading & Analytics Ecosystem, Nears $2m RaisedWall Street Memes isn’t the only crypto presale making waves among the investing community right now. New AI token yPredict is also one to watch after raising close to $2m so far.
yPredict is building an “all-in-one AI ecosystem” that will provide crypto trading tools, insights, and analytics.
These include trading signals, AI-based predictive models, technical analysts, and chart pattern recognition. Payment for these features will be made in $YPRED, the platform’s native token which is currently on presale.
With over 20,000 people currently on the waiting list, the project is quickly picking up speed. The presale is now in stage six with $YPRED tokens currently selling for $0.09, allowing investors to buy in at a discounted price, as the listing price with be $0.12.
Visit yPredict Presale
AiDoge Backed to Explode on Listing After $15m PresaleAnother new meme coin making noise is AiDoge, which recently concluded its presale after raising over $15m.
AiDoge is a new meme-generation platform that allows users to create memes using AI technology and text prompts. The native $AI token is at the heart of the AiDoge ecosystem and will be used to access different features, as well as allowing users to stake tokens to earn daily rewards.
While the AiDoge presale is now over, traders still have the oppoorunity to buy now at the listing price of $0.0000336.
After attracting such huge investor attraction and being backed by many traders and analysts to explode when it lists on major exchanges in the near future, AiDoge is a solid contender to be the next big meme coin.
Visit AiDoge Presale
The post XRP Price Analysis – Ripple Backed To $2, These Tokens Could Also Pump appeared first on BeInCrypto.
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