Ripple (XRP) was once the third biggest coin in the cryptocurrency space and has been a staple in the top 10 since it was launched in 2017 – offering a faster and more energy-efficient alternative to BTC.
It reached an all-time high of nearly $3.50 in the 2018 bull run and although it again looked set to break the $2 mark in 2021, a lawsuit filed by the US Securities and Exchange Commission (SEC) has seen the price consistently fall and fail to break the $1 barrier since November 2021.
As well as offering analysis on XRP, this guide will offer three alternatives to the popular coin.
Ripple remains the seventh biggest coin by total market capitalisation but, at the time of writing, its price is just $0.33 – only memecoins Dogecoin and Shiba Inu have a lower price in the top 15.
Built by US tech firm Ripple Labs Inc, Ripple is a payment settlement system and currency exchange that offers services to banks and payment processors. Native coin XRP is described by Ripple as a “digital asset built for global payments.”
Ripple is able to facilitate exchanges for a huge variety of crypto and fiat currencies, with a small amount of XRP being deducted as a fee whenever there is a transaction on the network.
With huge fees often involved with exchanging currency or sending money around the world Ripple is designed to tackle that problem, allowing for large sums to be sent quickly and securely with very little cost to the user.
A number of major financial institutions – including American Express, Standard Chartered and Santander – are partnered with the Ripple and it appeared the company and coin were set for a huge breakout in 2021.
However, the ongoing SEC lawsuit has had a major impact on price action. They have accused the company, co-founder Chris Larsen and CEO Brad Garlinghouse of violating US law by selling XRP as an unregistered security.
The SEC expects Ripple to settle $1.3 billion, plus interest, and while Ripple continues to argue its case, the uncertainty has transferred to potential investors.
Most analysts believe XRP will return to at least $1 when general market conditions improve, with prices up to $5 by 2025. The most bullish offering predictions of around $30 by the end of the decade, but all price action will likely depend on the outcome of the ongoing lawsuit.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
In this section we will look at three potential Ripple (XRP) alternatives that could potentially offer gains in the more immediate future:
1. Battle Infinity
An alternative to Ripple (XRP) to consider is Battle Infinity – and its native token IBAT – a new gaming platform that incorporates play-2-earn gaming and a metaverse.
The Battle Infinity ecosystem comprises six strands with its flagship feature the IBAT Premier League, a fantasy sports game and league with NFT integration. It will first feature cricket, with sports expected to be added as the platform expands.
Users can also buy virtual plots of land within the Battle Arena – a 3D world – while IBAT can also be staked and swapped, making the platform one of the top 10 emerging cryptocurrency projects.
IBAT was first listed on PancakeSwap last week and its price surged over 400% despite the general downturn in price action in the last seven days.
It is being listed on LBank this week with the price expected to be significantly boosted once more.
Keep up to date with all the latest news by joining the Battle Infinity Telegram group.
Another project to consider as an alternative to Ripple is Tamadoge (TAMA).
It is a meme coin with a difference, offering utility and value to holders unlike traditional meme coins such as Dogecoin and Shiba Inu.
Currently in the fourth phase of its presale, TAMA has already raised nearly $7 million with each new tranche of coins seeing the price per taken increase.
It sold for 1 USDT to 100 TAMA in the first phase but now 1 USDT nets 50 TAMA with half of the tokens on offer in the presale now sold.
Tamadoge will be a fully fledged metaverse that includes NFT ownership and p2e gaming. Holders will be able to mint Tamagotchi-style Pets, care for them and watch them grow before battling other players for the chance to earn rewards and prizes. Later in the roadmap, the Pets will go from 3D to augmented reality (AR), allowing holders to go out into the real world with their Pets and hunt for rewards and tokens.
Tamadoge is already closing in on 10,000 holders and after the presale ends, TAMA will become available on centralized exchange (CEX) LBANK and decentralized exchange (DEX) Uniswap – this will likely see a huge increase in trading volume which is it among the fastest growing cryptos of 2022.
Potential investors can join the Tamadoge Telegram group to keep up to date with the project.
3. Lucky Block
Our final alternative to Ripple to consider is Lucky Block (LBLOCK).
Released earlier this year to huge hype, Lucky Block is an NFT competition platform designed to promote transparency and fairness in the online gaming world.
Along with a weekly main draw where up to $50,000 can be won, Lucky Block also hosts weekly NFT draws and other competitions. Those eye-catching prizes include $1 million in Bitcoin, VIP tickets for the 2022 World Cup in Qatar, a Bored Ape Yacht Club NFT and even a house.
Its native token LBOCK has two versions – V1 and V2 – with V1 built primarily for DEXs.
The V2 version launched on MEXC recently and saw a boost in prixe – a further boost is expected from September 1 amid news that it will be listed on Gate.io, the fifth-largest CEX around.
LBLOCK is currently trading at around $0.002 and has been named as one of our most undervalued cryptos.
How to Buy Tamadoge
This guide will show interested investors how to buy Tamadoge, one of our top picks as an alternative to Ripple (XRP).
Step 1: Download a Crypto Wallet
To buy Tamadoge (TAMA) you must first set up a crypto wallet. Many of the best wallets are free and easy to use – MetaMask is a great and easy to use example
Download the MetaMask app on your smartphone or tablet or the browser extension if you are using a desktop computer.
Step 2: Acquire ETH or USDT
If you already have a wallet set up, TAMA can be purchased directly on its website by swapping ETH or USDT tokens – just follow the instructions.
If you have not already purchased these assets, head to a preferred crypto exchange, buy ETH or USDT and transfer the tokens back to the MetaMask wallet.
You can also buy directly on MetaMask using a debit or credit card via Transak.
Step 3: Link MetaMask to Tamadoge Presale Platform
Once ETH or USDT has been purchased, the next step is to visit the Tamadoge website and click ‘buy’. Investors then click ‘Connect Wallet’ and choose their wallet provider to connect to the platform.
Follow the instructions on screen to complete the connection.
Step 4: Buy TAMA
The final step is to buy TAMA. Select ‘Convert ETH’ or ‘Convert USDT’ and enter the desired amount, although buyers need to purchase a minimum of 1,000 TAMA.
TAMA tokens will be stored on the website and can be claimed later once the presale ends. Simply click ‘claim’ on the Tamadoge homepage.