It was expected that XRP would benefit more from the rising crypto market, but now everything seems to depend on the SEC vs. Ripple lawsuit. Will Ripple rise again after this long-running lawsuit is finally over?
XRP Price Notes Limited Rise as Crypto Market Explodes
We start with good news for XRP, as the altcoin has formed a ‘Golden Cross’ on the daily chart. This is a bullish development in which in this case the 30-day moving average (yellow) has risen above the 200-day moving average (blue), which can lead to increases in the price.
Ripple crashed last Tuesday – along with the crypto market – as XRP went from $0.67 to $0.53 before recovering to $0.59 the same day. In recent days, XRP has been climbing again, with a ‘Golden Cross’ forming on Thursday.
The Relative Strength Index (RSI) of XRP is currently still at the higher neutral level of 61, which gives Ripple room to rise even further in the near future, as long as there is enough interest in the altcoin.
XRP investors and followers await developments in the lawsuit from Ripple and the Securities and Exchange Commission (SEC). The SEC is due to file its brief on March 23, after pushing back the deadline by a week.
Stuart Alderoty, Ripple’s Chief Legal Officer, is concerned about the SEC’s vague arguments, which could potentially attract the attention of US lawmakers.
I don’t know much about this proxy access case argued in the 5th Circuit yesterday, but when a judge says the SEC’s rules are “so vague and loosey-goosey that nobody knows whether they’ll be at risk…,” she may be on to something. NCPPR v SEC. pic.twitter.com/Nj08JTpaEu
— Stuart Alderoty (@s_alderoty) March 6, 2024
The lawsuit now appears to be coming to an end, which is why some investors are already preparing for this. There are also whales who are stocking up on XRP for expected pumps in the future.
BREAKING 🚨🚨🚨 Massive #XRP Buying
300,000,000 #XRP (187,134,686 USD) Transferred From #Binance To Unknown Wallet.
Someone Knows Something Huge Pump For #XRP 💥💥🚀🚀🚀 pic.twitter.com/I6o3gbv4YP
— XRP CAPTAIN (@UniverseTwenty) March 8, 2024
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How long it will take before the trial is over will remain a question, but we will know more about this at the end of April. Until then, the XRP price will mainly depend on what the rest of crypto does and investor speculation.
XRP is expected to rise to $0.67 next week, the same level as its peak in December 2023. Naturally, this will require the crypto market to rise further, with a new All-Time High for bitcoin.
Alternative Cryptos to Watch While XRP Lies Behind BTC and ETH
After the impressive performance of the spot bitcoin ETF and the upcoming 2024 Bitcoin halving, Bitcoin is currently in the spotlight. For example, alternatives to Bitcoin are currently doing very well. Bitcoin Cash (BCH) is up over +80% in the last 30 days and the less popular Litecoin (LTC) is up +28%.
These alternatives to Bitcoin have a multi-billion market cap and therefore benefited from limited increases. New alternatives to bitcoin, on the other hand, can rise much faster as the halving approaches. Today we look at 2 alternatives to bitcoin that could explode soon.
Green Bitcoin (GBTC)
Green Bitcoin (GBTC) is a green alternative to bitcoin that works on the Ethereum blockchain, which has a very important upgrade scheduled for March 13. This allows GBTC to benefit not only from the Bitcoin halving, but also from the Ethereum blockchain, which is expected to become even more efficient.
The advantage of GBTC is that you can stake this ERC-20 token for passive rewards, in addition, Green Bitcoin has an alternative method of staking that allows you to earn even more. With this new way of staking, you earn extra GBTC by predicting what the Bitcoin price will do. This is also called Predict to Earn.
You can purchase GBTC in the presale for $0.6882 per token with the option to stake these tokens for an APY of 165% before the token is launched on exchanges. This means that you can start earning passive rewards during the presale, before the Predict-to-Earn mechanism is launched.
Bitcoin Minetrix (BTCMTX)
Although Bitcoin’s block rewards will soon be cut in half for the fourth time, there is still a lot of money to be made from mining as Bitcoin continues to increase in value. With the new Bitcoin Minetrix (BTCMTX) it is possible to mine via the cloud, so you do not need any hardware or technical knowledge yourself.
Bitcoin Minetrix is the first project to introduce a Stake to Mine mechanism, so you can stake BTCMTX to earn mining credits. You can use these mining credits to mine via the cloud. From earning credits to claiming your mined Bitcoins, it’s all done through a user-friendly dashboard.
What exactly is Bitcoin mining? 🤔#Bitcoin mining involves the creation of fresh #BTC. ⚒️💰
Countless mining setups work to crack intricate equations, verifying $BTC transactions and upholding the public ledger, thus earning fresh Bitcoin in return. 🔄🔏 pic.twitter.com/LfGGQXW31S
— Bitcoinminetrix (@bitcoinminetrix) March 7, 2024
Bitcoin Minetrix’s presale is almost over after raising over $11.9 million of its $15 million. You can purchase BTCMTX for $0.0139 each with the option to stake the token early and passively earn BTCMTX before the token is launched into the bull market and can explode in value.
Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.
Source: https://bitcoinmagazine.nl/nieuws/xrp-blijft-achter-op-btc-eth-gaat-ripple-stijgen-na-rechtszaak
