XRP price forecast and new cryptocurrencies that could rise in altcoin season

Ripple

At the time of writing, the price of XRP has fallen 0.15% in the last 24 hours, back to $0.5225. However, before that, the token rose in price due to the news that a federal court denied the SEC’s motion to appeal the July ruling in the Ripple case.

The cryptocurrency is up 2.7% in the last week and 4% in the last 30 days. Meanwhile, the altcoin is also up 54% since the beginning of the year. The denial of the SEC’s appeal this week left XRP in a strong position. It reinforced the positive sentiment that arose when Judge Analisa Torres ruled in July that the token itself was not a security. Moreover, the market also showed some signs of recovery earlier this week, and XRP and new altcoins can expect significant gains in the near future.

New high-yielding altcoins

At the moment, XRP is likely one of the strongest tokens on the market. However, its potential growth depends more on whether a bullish trend starts across the industry.

Thus, traders seeking above-average returns right now are better off looking at new altcoins. They are being sold as part of a presale, so you can buy them at a discount. Moreover, this means that such assets have a better chance of experiencing growth spikes.

Bitcoin Minetrix is a cloud-based bitcoin mining platform based on Ethereum

The Bitcoin Minetrix (BTCMTX) platform provides retail traders with a less costly and easy way to mine the world’s most successful cryptocurrency, Bitcoin (BTC). The pre-sale is already quite successful, with over $100,000 raised within hours of launch, and the investment now exceeds $1.6 million.

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Bitcoin mining is done using Ethereum. As we know, cryptocurrency stacking is a greener method of obtaining additional assets than Bitcoin’s outdated Proof-of-Work architecture. Moreover, the merging of both networks has led to the emergence of a new concept – Stake-to-Mine.

So, to start mining BTC, an investor needs to follow three simple steps. First, purchase the new cryptocurrency BTCMTX, as it is the core ecosystem. Second, send it to staking, through which cloud mining credits are mined. Finally, burn the new assets and get the power to mine bitcoin.

No special hardware or even software is required – just the Bitcoin Minetrix dashboard. Mining credits are ERC-20 tokens that cannot be transferred to other participants. They are spent solely on buying power to mine BTC. The more an investor burns, the more he earns.

All metrics can be analyzed using the dashboard, including rewards, credits earned, number of coins in staking, etc. The developers of the project intend to launch a mobile app in the not-too-distant future, with the help of which it will be possible to mine bitcoin from anywhere.

There are 2.8 billion BTCMTX available for presale at a starting price of $0.0111, which increases with each subsequent stage. The presale maximum will be $0.0119.

Additional Pros:

  • An environmentally friendly and cost-effective option for earning BTC.
  • The BTCMTX offering will allow investors to automatically earn credits for bitcoin mining.
  • No need to buy expensive equipment, all you need to invest is just $10.

Meme Kombat – a blockchain and AI-based meme battle arena

One of the pre-sales that has caught the attention of crypto market participants is Meme Kombat (MK), a new gaming platform where memes will “fight”. Integrated artificial intelligence technology will make character fights more exciting, and viewers will be able to bet tokens on the outcome of fights.

The platform has already raised over $500,000, which is a solid figure considering the pre-sale started just two weeks ago. This is not surprising, as the team has provided investors with a new idea on how to earn altcoins. Previously, there was no project that offered to profit from betting on computerized “fights” of memes.

Some analysts see potential in Meme Kombat, as meme tokens are now popular assets. So the developers of the project take their place in a profitable niche.

The MK platform’s own token will have a hard limit of 12 million, and this is a very small figure compared to other meme coins. However, this approach will make the coin deflationary.

50% of this offering is allocated to the current pre-sale and another 30% is reserved for staking and staking rewards. This is expected to provide a high level of interaction with the Meme Kombat platform.

The token will be priced at $0.1667 during the presale, which investors can participate in by visiting the official Meme Kombat website.

Given that some meme tokens (e.g. Wall Street Memes) have gone up in price several times since the pre-sale ended, it’s likely that MK could follow a similar trajectory.

Platform Benefits:

  • MKs placed in the staking pool can earn 112% annualized returns.
  • Results are captured by the chain, so they are immutable, transparent and fair.
  • Users potentially increase their earnings due to the large number of bets in play.

The court ruling in favor of Ripple may have a positive impact on the price of XRP

Experts predict a strengthening of the altcoin season, which may start with another Ripple victory. However, so far the XRP price movement chart is in an ambiguous position, and technical indicators show neither growth nor weakening.

On the one hand, XRP’s 30-day moving average (yellow) is still significantly below its 200-day average (blue). This indicates that the coin remains oversold and therefore should theoretically take a stable position soon. On the other hand, the token’s Relative Strength Index (purple) is falling from 60 and could either drop even lower or resume rising.

However, there is one indicator pointing to a positive outcome. XRP’s support level (green) has been steadily rising over the past few weeks, meaning that the altcoin won’t be falling anytime soon.

According to analysts, the most important thing for XRP right now is to resist falling below the current support around $0.51. If the coin can avoid such a situation, it will start recovering soon.

In any case, XRP got a boost this week after Judge Analisa Torres denied the SEC’s motion to appeal certain aspects of its July ruling.

The appeal involved programmatic sales of XRP (by Ripple) on exchanges. However, Judge Torres initially ruled that such crypto trading did not violate the securities rule because buyers did not have a reasonable expectation of a return on their investment.

The specialist further upheld the ruling, stating that there was no “substantial basis for disagreement” on this particular issue, leaving the SEC wondering how to proceed.

This is a big win for Ripple, giving the company more opportunities to further expand its business, which could benefit XRP. The cryptocurrency is expected to rise to $0.60 in the next couple weeks before possibly reaching $0.75 by the last month of the year.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.

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