XRP has lost 3% on the weekly charts. While BTC and ETH have gained 2.01% and 4.31%, XRP continues to disappoint investors with a lukewarm performance. But it won’t be long before the token bounces back into action and continues the journey, which took it 35.8% upward over the last thirty days.
The short pause can be interpreted as a warm-up before the bull runs ahead, which will potentially take it to $0.635 by the end of April.
XRP is Looking at a Bullish Quarter
XRP has climbed a strenuous and ambitious 40% in the first quarter of 2023. The movement was catalyzed by the strengthening speculations around Ripple’s potential legal win against the U.S. Securities and Exchange Commission. The bullish sentiment that graced the crypto market in 2023 also paved the path.
Stepping into the second quarter of 2023, XRP is eyeing more gains. To begin with, the bullish momentum in the crypto market will continue. The deteriorating confidence in the global economy is streaming a new wave of investors to the crypto market.
XRP 3-month price chart, source: CoinMarketCap, 10 Apr 2023
The consequences of the tactless policies taken over the course of the last many months, especially in the aftermath of the pandemic, are growing more visible than ever. As inflation, liquidity crisis, and supply shortage grip economies around the world, people will look for better alternatives to stock, commodity, and real estate investments. The fact that developed countries won’t be spared from the downturn exacerbates the wound.
In the last quarter, we saw it take a toll on the crypto market, forcing it to take a break from the journey upward. Most cryptocurrencies that were reversing the losses made in the long winter of 2022 had to back off a little. But things are starting to look up now, although XRP may need more time to resume its ride.
XRP has a market cap of $26,113,664,148 now, against Ethereum’s $224,053,117,171 and Bitcoin’s $547,563,652,856. It outstripped Cardano to take the sixth position on the global crypto charts recently, owing to the optimistic sentiments around the lawsuit that has long plagued Ripple.
XRP has to break past the resistance at $0.53
After reaching this year’s high of $0.579 on March 29, the XRP price has been consolidating. Although it started as a reaction to the rejection at $0.530, XRP will resume its upward movement soon. If XRP manages to break past the resistance created at $0.530, things will start to look up.
To give you a better perspective, XRP has been on a run since challenging a descending resistance line on March 21. That rapidly took the coin to the yearly high mentioned above. But it slipped below $0.530 soon, although there was no bearish divergence in the RSI. On April 5, the area rejected the coin again.
The next long-term resistance will be formed at $0.650. That said, in the event the price is rejected, XRP will plummet to $0.425. And if the token gives up again, it can go further down to $0.360. Apart from the broader market awakening that continues, XRP will gain from strong whale accumulation.
How are whales treating XRP?
According to Santiment, the year-to-date climb in XRP price overlaps a jump in whale accumulation. To give you better insight, the supply of XRP held by most whale address cohorts — be it 1,000–10,000 XRP or 100 million–1 billion XRP — has increased in 2023. Interestingly, it coincides with the coin’s bull run, although there were reports that some whales got rid of XRP worth around $35 million.
XRP supply distribution among whales, Source: Santiment
XRP is one of the most preferred cryptocurrencies among whales as it awaits a positive development in the lawsuit. If the verdict turns out to be in favor of Ripple, the coin can climb up the charts rapidly, giving multifold returns to early investors. In that case, XRP’s current selling price of $0.5051 is a steal. The developments will reward investors who make the best use of the opportunity by buying the dips.
While coins like Ether are backed by solid projects that have managed to avert the legal gaze, they are also highly saturated in terms of price and market cap. For example, Ethereum’s Shapella upgrade can give the coin an uptick in the coming days. But it would be limited to 10-15%, despite the growing ecosystem that underpins the coin. XRP, on the other hand, has higher upside potential as it purges the uncertainty surrounding the project and the cryptocurrency.
Is XRP a good investment in April?
XRP is one of the best cryptocurrencies to buy in XRP. It is looking ahead at a bright quarter, and April will mark the beginning of its next big bull run this year. As the confidence in the coin builds up, more investors will expand their XRP holdings. New crypto investors, who are taking their plunge into the market in the aftermath of the global economic downturn, will find a home in blue-chip cryptos first. XRP would be one of the few to benefit from the new shift that is picking up the steam.
If you’re looking for a reliable cryptocurrency that can give you 20-25% returns this quarter, XRP makes an excellent choice. But you will have to think beyond high-cap cryptos like BTC, ETH, XRP, and ADA if you’re eyeing multifold returns. In that case, you should invest in utility-rich tokens like DeeLance, Ecoterra, and Love Hate Inu.
Although they are new to the market, they have established their presence in a short space of time with highly relevant use cases that push the frontiers of the blockchain revolution. As the broader market evolves into a mature phase where utility takes precedence over hype, these tokens will amass market caps that exceed the $1B mark by the end of the year.
Let’s take a closer look at these new cryptocurrencies, their underlying project, and how they are positioned to scale growth.
1. DeeLance
The first cryptocurrency that will make the best alternative to XRP this quarter is DLance – the native cryptocurrency of the Web 3.0 freelancing and recruitment platform DeeLance. The platform has managed to earn wide exposure in a short space of time since its launch, owing to the transparency and decentralization it brings to the freelancing market.
It comes as no surprise that more than 65% of employed people want to work full-time as remote employees. And the industry is growing rapidly. For example, the global gig economy is expected to cross $450 billion in 2023. The freelancing industry, on the other hand, will surpass $12 billion by 2028. But the freelancing side of the job market is riddled with scams and manipulation. DeeLance entered the market with an aim to overhaul the industry by providing decentralized, secure tools and ownership rights to users.
To begin with, it simplifies hiring by doing away with browser plugins, third-party apps, credit card details, or wallets-linking. It is fast, efficient, and easy, thanks to the blockchain makeup of the platform that throws out predatory middlemen from the equation.
The platform gives you full control over your data, in an approach unprecedented in the traditional market. While traditional freelancing platforms are known for selling user data to marketing and advertising companies, Deelance stores all buyer and seller reputations on the public blockchain using an automated dispute system. The platform’s escrow accounts implement trustlessness into the ecosystem, ensuring the utmost safety. As a result, freelancers can sign up for the gigs they find apt. They will receive payment for the services they provide, with no room for scams or manipulation.
Hey DeeLancers! 👨💻
Do you want to know what makes #DeeLance stand out?
Our Metaverse 🌌, #NFT marketplace 🎨, & seamless freelancing platform 💻 create the ultimate ecosystem for our users
You can be a part of it too! Join $DLANCE presale now ⤵️🤝https://t.co/XHnTqVzeWf pic.twitter.com/aau2yR9yob
— DeeLance (@deelance_com) April 9, 2023
Another interesting feature of the platform is tokenization, which allows you to convert the work submitted on the platform into NFTs. It gives the employer full rights to the work they’re paying for. It goes a long way in mitigating copyright violations. And of course, DeeLance charges much lower fees when compared to legacy competitors as it shrinks the gap between employers and freelancers using smart contracts.
DeeLance is currently running the presale of its native token DLANCE on the official website. Grab them early for the best discounts, as the presale undergoes a gradual price rise. The money collected from the presale will be used to build the DeeLance NFT marketplace and the metaverse app. What is remaining will go towards strengthening the project’s industry foothold. Flexible and cost-effective solutions will put DeeLance at the forefront of the freelancing revolution around the world.
| Presale Started | 30 March 2023 |
| Purchase Methods | ETH, USDT, Credit Card |
| Chain | Ethereum |
| Min Investment | $10 |
| Max Investment | None |
3. Ecoterra
Next on our list of the best alternatives to XRP is Ecoterra, a first-of-its-kind Recycle2Earn application that reinvigorates the green market using Web 3.0. Ecoterra’s green ecosystem is harnessed by a crypto reward system that encourages individuals and institutions to boost their contribution to regenerating the environment.
The Ecoterra ecosystem has four pillars:
The first of these is the Recycle2Earn Application, which you can use to earn Ecoterra tokens for each item you recycle.
- Track your contributions to recycling
- Add them to your user profile
- Convert them into achievements and NFTs.
The next is the Carbon Offset Marketplace, which allows both individuals and organizations to offset their carbon footprint by supporting environmental or ecological projects.
- Most trusted standards for project verification.
- Each ton of carbon you offset is added to your impact profile as an achievement
- You can mint them as NFTs once a target is reached.
The Recycled Materials Marketplace helps companies on the hunt for the recycled materials they need like plastic, aluminum, or glass on the platform
- Bridges companies and recyclers.
- Then, they can connect with recyclers, place orders, and make payments.
The fourth pillar is the Impact Trackable Profile. It allows companies and individuals to publish their contributions to environmental initiatives. As their profile improves with more achievements, they can reach a large user base and procure valuable data on user profiles and behavior.
Ecoterra takes a novel path to implement more transparency and efficiency in climate action. It is also supported in all countries that make use of reverse vending machines. As a result, we’re looking at a large market and the token can climb anywhere from 3X to 5X after the token launch. Ecoterra presale is now live.
| Symbol | ECOTERRA |
| Network | Ethereum ERC-20 |
| Total Supply | 2 Billion |
| Buy with | ETH, USDT, Card |
3. Love Hate Inu
The lack of utility has proven to be fatal to the sustainability of meme coins. If the trend continues, meme coins will remain a risky investment. This is where Love Hate Inu, one of the most talked-about cryptocurrencies of this year, steps in. The vote-to-earn crypto is rooted in the fast-growing online survey market, which is predicted to grow $5.69 billion by 2027 at a CAGR of 15.5%.
At #LoveHateInu, you're in charge of the next poll!🔥
Our community-driven platform rewards everyone, whether you're a staker, voter, or creator.🚀
So don't miss out on Stage 4 of the #Presale and get your hands on some $LHINU today!💰💸 #CryptoCommunity #AltCoins #MemeCoins
— Love Hate Inu (@LoveHateInu) April 10, 2023
Love Hate Inu’s transparent voting platform integrated with crypto incentivization lets you vote on a wide range of topics from politics to pop culture and sports and earn rewards in return. It relies on a blockchain-powered smart contract to execute the operations, which will mitigate the element of fraud and manipulation.
Love Hate Inu is entering a rich market with large growth potential. But its competitive edge lies in its robust staking mechanism that makes the voting process both verifiable and anonymous. The authenticity of the poll, results, or reward distribution will be unmatched. 90% of the LHINU supply is now being sold in a public presale, which has already crossed the $3.3M mark. The community will also have a say about the polls listed on the platform in the coming stages.
Despite its community-first vision, Love Hate Inu is not solely built on community power, as the ambitious roadmap reveals.
The earlier you enter the presale, the higher the discounts.
| Presale started | March 7, 2023 |
| Purchase Methods | ETH, USDT, Transak |
| Chain | Ethereum |
| Min Investment | N/A |
| Max Investment | N/A |
