The crypto community welcomed Ripple’s historic victory in the high-profile lawsuit filed by the Securities and Exchange Commission (SEC) with open arms. While most of the market turned green amid the craze, XRP was one of the key beneficiaries of the news.
Now that the coin is relieved from the allegations of being an unregistered security, investors are flocking to hoard it before it’s too late. The growing speculations around how regulatory clearance can influence the token’s future have led to a 71.5% surge for XRP on the weekly chart.
XRP seven-day price overview. Source: CoinMarketCap
Is $1 Within Reach?
At the time of this writing, XRP is selling for $0.8, strengthening the predictions of it breaking past the strong barriers ahead for $1. If the momentum continues, and it makes it past the key resistances, it can potentially make a ‘mega move’. The surge will reflect in the broader market, particularly benefitting high-cap cryptocurrencies like BTC, ETH, and ADA.
As of now, the market is dominated by bullish sentiment for XRP. But there are multiple resistance levels to cross for the coin, including at $0.85 and $0.9. Although it has emerged past the key barrier at $0.75 resistance, it remains to be seen whether $0.85 will be generous to the coin factoring in the recent events.
But if the market retraces, the price correction will be less pronounced. A slip to $0.685 is expected, while anything lower than $0.63 hints at bears taking over the market. The broader market movements will play a key role in determining the downward momentum.
Ripple Fear and Greed Index, 20 July 2023, CFGI.io
Historically, massive bull runs that run contrary to the broader market are followed by a correction phase. XRP won’t be an exception to the rule. The price correction will begin soon, urging investors who are late to join the party to exercise caution.
On the other hand, the price correction will be short-term, given the magnitude of the recent development and how it can impact the future course of the project. Despite the volatility and retraces ahead, XRP is one of the most preferred high-cap cryptocurrencies. The victory against the SEC opens a promising opportunity for XRP to break past the threshold at $1 and lay new ground for further growth.
Evil Pepe Grips the Meme Coin Market
Evil Pepe took over the meme coin market on Thursday.
“We’ve all been there. You’re tracking the latest trending shitcoin and know it’s probably gonna rug. You just lost your previous trade, so you know you should leave it alone. But you ape in anyway…That’s Evil Pepe,” explains the website.
The blatantly honest confession sent the market into a frenzy as soon as the word about the project got around.
With Pepe hype subsiding, meme coin investors are seeking refuge in the new Pepe knock-off, which stands out in the crowded market with a creative theme. Pepe, having experienced a significant decline of 64.52% from its all-time high over the last few months, is struggling to get back on its feet.
Given that meme coins are short-term sensations, most meme coin investors look for greener pastures every few weeks. The new meme coin that taps into the Pepe hype has witnessed an overwhelming social media reception, as a result.
In the hours that followed the social media and presale launch, the project generated substantial hype within meme coin communities. It is also interesting to note that the presale raise stands at $135,393.05 out of its targeted $1,996,002 within hours of going live.
The fast progress of the presale and the rising social media hype hints at an early sell-out of the meme coin before the word spreads across the broader crypto market. Another factor that gives large upside potential to Evil Pepe is its low initial market cap. The well-executed marketing campaigns will, however, determine the course of the project.
#EvilPepeToken is going to change the landscape of Pepe tokens. We set the #Presale for 14 days, but it wont last that long.
He’s coming for you and your degen heart
Website: https://t.co/tSzIy5cOXV
Telegram: https://t.co/38fXn8r38y#PRESALE #Live #ERC20 #Ethereum #Pepe pic.twitter.com/8NuycuwX8K— Evil Pepe (@evilpepe_token) July 19, 2023
In contrast to numerous Pepe knock-offs spawned into the market in the past, Evil Pepe has a strong creative foundation. The campaigns cater to the tastes of the average meme coin investor.
The growing euphoria around the project and the effective marketing strategies can help Evil Pepe surpass Pepe’s record of a 7000% surge in August.
BTC20 – Bitcoin on Ethereum – Launches Token Presale
BTC20 is the latest cryptocurrency predicted to revive the altcoin market. The project launched this week setting the stage for massive social media action.
Promoted as the “Bitcoin on Ethereum,” the project has become a phenomenon as expected.
Imagine having the chance to go back in time to 2011 and buy Bitcoin when it was priced around $1, and then benefit from its meteoric rise over the years. For many crypto investors, this would be a dream come true.
That’s what BTC20 is about. Plus, the attractive staking rewards.
BTC20 aims to provide that opportunity to those who missed out on the early days of Bitcoin. It is a Proof-of-Stake (PoS) ERC-20 token, currently available for purchase at a presale price of just $1 per token, with a presale supply of 6.05 million tokens – similar to Bitcoin’s early stages.
The new project allows early investors to earn substantial passive income through the stake-to-earn system. While BTC mining is energy-intensive, the stake-to-earn system is more economical and profitable. That is another feature that attracts investors to the project, apart from its lower entry point and the large room for growth.
$BTC20: User-friendly and powerful
$BTC20 is built on #Ethereum, the most-used #Blockchain after #Bitcoin. With its smart contract functionality and versatility, using $BTC20 becomes a seamless journey
Get your hands on the ‘new Bitcoin’ now – https://t.co/N56IcYsKHq pic.twitter.com/4bgNJLIw1G
— BTC20 (@BTC20Token) July 20, 2023
The recent bull run of Bitcoin Cash (BCH) has also accelerated the BTC20 presale. BCH’s wild surge, taking advantage of BTC’s rising dominance, is expected to positively impact BTC20 upon its launch. The example further drives interest and investment.
BTC20’s unique selling points are the second chance to participate in a project resembling the early days of Bitcoin, coupled with the potential for passive income and positive market momentum. As the broader market looks up, the project is predicted to break into the top-50 chart in the next quarter.
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