Today, the situation in the cryptocurrency market can be confusing not only for newcomers to the industry, but also for experienced buyers. Many find it difficult to choose a suitable project for investment against the backdrop of a major court case. We are talking about the confrontation between the U.S. Securities and Exchange Commission (SEC) and Ripple. According to analysts, this event may serve as a catalyst for a new bullish trend.
For three years, market participants have been watching the trial and eagerly awaiting its conclusion. Now that a decision has been made in favor of Ripple, there is every reason to expect continued growth in the cryptocurrency. Within this article, we will talk about the future prospects of Ripple and look at another promising project that is capable of bringing big profits.
Wall Street Memes – another cryptocurrency from rebels against the system
At the end of May this year, the Wall Street Memes team presented their new crypto project. Its goal was to draw public attention to the detrimental impact of capitalism on the development of the financial market. The success did not take long to come: just a few minutes after the release, the amount of investments exceeded $100,000. Moreover, after more than 30 days, the pre-sale rate of WSM continues to show good results. During this time, the token has attracted more than $14.6 million. It is also worth noting the favorable value of the asset – $0.0316.
The company’s fame and users’ confidence in the project’s reliability are among the many reasons why the new asset is in high demand. Buyers remember the successfully completed Wall Street Bulls collection deal. In 2021, this event attracted a lot of attention as all NFTs were completely sold out in 30 minutes. In that half hour, the project raised about $2.5 million.
Also, investor confidence is backed by the transparency policy of Wall Street Memes. It consists in the honest realization of all 2 billion coins that the company has issued. Unlike most competitors, WSM chooses in favor of public sales and does not save assets for insiders. WSM has allocated 1 billion tokens for the entire presale process. The remaining coins will be used for incentive payments to customers, as well as centralized and decentralized exchanges.
Experts attribute the significant increase in the rate of WSM presale to the support provided by the active community of the project (more than 1 million people in social networks). It is also impossible not to mention the influence of Ilon Musk, not for the first time launching a rapid increase in demand for cryptocurrency. The entrepreneur left several comments under the posts of the WSM team in the social network Twitter and thus brought the meme-coin to a new level.
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It is reported that everyone can apply to participate in the $50,000 free giveaway of $WSM tokens. However, it is important to note that only five people out of the total number of users will be eligible to receive the assets.
Currently, one WSM meme token is worth $0.0316, but once the pre-sale is complete, its value will increase to $0.0337. Pros of the project include:
- A community of millions can ensure long-term development of the meme-coin and increase its profitability.
- Collaboration with meme authors and influencers can also positively influence the coin’s long existence on the market.
- Buying WSM opens up access to premium content and early updates.
What Ripple’s victory means for the cryptocurrency market
On July 13, 2023, cryptocurrency market participants witnessed a big event. It is about the completion of the trial over Ripple, which lasted for three years. The reason for the proceedings was the accusation brought by the Securities and Exchange Commission against the representatives of the cryptoproject. Its essence is the suspicion of illegal activity in the sale of securities under the guise of XRP tokens.
Analysts note that this event is already beginning to have a positive impact on the financial market. For example, in the first few hours after the announcement of the court’s decision, Ripple coins showed a rapid growth of up to 100%. Of course, now that the excitement has slightly decreased, it is fixed at 64%. At the same time, the cryptocurrency takes the first place in the top of the information portal CoinMarketCap. Now you can buy XRP tokens at a price of $0.779.
It is worth noting that at some point the opinions of users were divided. Some expressed dissatisfaction with the results of the court because of the inability to compensate for their financial losses. However, others reacted positively and have already begun to make predictions regarding the further development of XRP. Among the latter were representatives of the crypto exchange Kraken, Binance CEO Changpeng Zhao and TRON creator Justin Sun.
Analysts, in turn, consider this event in terms of new opportunities for a number of other companies. For example, inspired by Ripple’s victory, they will also be able to prove that their coins cannot be equated with securities. Cameron Winklevoss also spoke in favor of the decision. The founder of the Gemini exchange believes that the positive outcome for Ripple proved that the SEC will not be able to continue to exert serious pressure on the market.
The Ripple team itself expressed the hope that the court victory will be the first and important step towards a more transparent regulatory environment. The importance of this event cannot be underestimated. If other companies do decide to follow Ripple’s lead, it could lead to other cryptocurrencies getting off the SEC’s blacklist.
XRP rate forecast for 2023
A large crypto startup from California stands out from other digital assets due to its rejection of decentralization principles. As already mentioned, it cooperates with many investment funds, banks and companies. Also, the company works not only with cryptocurrencies, but also with fiat money.
Against the background of a short-term increase in the price of the asset, caused by the successful completion of the trial, many investors are interested in its further growth. Specialists note that in the next few days, a 1.83% decline in price is possible. However, further the situation will be corrected: a gradual growth of the digital asset is expected during the month. For example, by the end of July, it may reach $0.545573. At the same time, in August the price of the token has all chances to increase to $0.559.
If we talk about more global forecasts, then experts currently offer the following scenario: the maximum price of XPR next year will be $0.939, and in 2025 – $1.3.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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