The Ripple (XRP) court case goes well but may have some years to go before completion. Filecoin (FIL) is consolidating after a rally sparked by the chain becoming a fully-fledged layer one. Collateral Network (COLT) is bringing a whole new dimension to P2P lending and DeFi and is already seeing 40% price gains during its presale phase. Let’s have a look at these projects.
How high could Ripple (XRP) go?
According to StormGain, if both the crypto market and the Ripple (XRP) commercial ventures are strong, we could see the value of Ripple (XRP) rise to several dollars per token and perhaps even reach $5 in a few years. They note that a $10 price prediction for XRP still seems optimistic, but the prediction is possible for 2025 or 2030. This is, of course, dependent upon Ripple (XRP) winning its lawsuit against the SEC.
The latest news in the SEC vs. Ripple (XRP) case has revealed that much of the argument for XRP as a security was linked to the performance of Bitcoin and Ethereum, which then invalidates the claim by the SEC that the Ripple (XRP) efforts were responsible for XRP’s performance. However, to the dismay of many who have been anticipating a prompt ending to the case, the Ripple (XRP) lawyer said that the case could go on until 2026.
In the short term, WalletInvestor, predicts a price of $1.24 by May 2022. Coinpedia predicts that the Ripple (XRP) price for 2023 could range from $0.585 to $1.104. The price of Ripple (XRP) has risen, outperforming many top cryptocurrencies in the past 30 days, and currently is trading at $0.52.
Filecoin (FIL) Virtual Machine and Mainnet are Bullish for FIL
After a major rally on February 19th due to the release of the Filecoin (FIL) Virtual Machine (FVM), the price of FIL corrected and is currently consolidating, but Filecoin (FIL) is still up by 22% over the last 30 days. Filecoin (FIL) has been consolidating in a narrow range between $5.34 and $6, following Bitcoin’s lead. Despite some short pullbacks, traders have not vacated their positions, indicating an expectation of an upswing.
However, technical indicators for Filecoin (FIL) suggest a likely retracement or consolidation in the short and mid-term. The 200-day Moving Average (MA) and 20-day Exponential Moving Average (EMA) are moving parallel, and the RSI, OBV, and ADX are fluctuating near equilibrium, reinforcing the likelihood of a retracement.
Filecoin (FIL) could retest the lower boundary of the range if sellers clear the mid-level hurdles and the ascending trendline. We could see a bullish breakout above $6 for Filecoin (FIL) if BTC reclaims $29k and surges into the $30k zone, with immediate bullish targets at $6.50 and $7.26.
The interoperability of the FVM Mainet with Ethereum’s smart contracts is key for the chain’s usage and long-term development, contributing to Filecoin (FIL) holders staying enthused as the chain now becomes a layer one.
Collateral Network (COLT) offers the potential for market-beating gains
Collateral Network (COLT) is a new platform that allows anyone to borrow cash quickly. In order to get a loan, borrowers use their physical assets as collateral. A representation of the physical asset is minted as an NFT by Collateral Network (COLT), which is backed 100% by the physical asset, and further fractionalized, enabling lenders to lend small amounts of money to fund the total amount of the loan.
In practice, anyone with luxury goods such as art, fine wine, jewelry, cars, and even valuable NFTs like Doodles or a BAYC are eligible for a loan. The Collateral Network (COLT) team assesses, values and stores the physical item for the duration of the loan. Besides, the Collateral Network (COLT) model does not require any credit checks, so borrowers’ privacy is protected.
Lenders benefit from a fixed interest for the money they lend, plus the potential to have a stake in something that goes up in value. As traditional banks pay lenders very low interest, and more and more banks are revealed to be on the brink of collapse, Collateral Network (COLT) is an exciting use case of DeFi.
COLT is the native token of Collateral Network (COLT), and it has several benefits, including fee discounts, access to better interest rates, governance rights, staking abilities and access to Collateral Network (COLT) auctions for distressed assets in the event of loan defaults by borrowers. The COLT token is currently at $0.014, with a 35x predicted surge during the presale.
Read more about the COLT presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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