Ripple Labs, a US fintech company, first introduced XRP ($XRP), the cryptocurrency that powers the XRP Ledger, back in 2011.
The US Securities and Exchange Commission (SEC) recently sought to appeal a ruling against Ripple Labs, but District Judge Analisa Torres denied the request.
Judge Torres concluded in July that these sales weren’t necessarily securities offers, despite the SEC charging Ripple Labs back in 2020 for selling $1.3 billion worth of XRP coins in an unregistered securities offering.
There is still hope for the SEC’s action against Ripple, as a trial to address other unresolved concerns is set to begin in April 2024.
However, there is less of a chance that XRP will be classified as a security in the US that requires considerably stricter regulatory regulation, which bodes favorably for its acceptance.
As Ripple grows its worldwide payments business, the adoption forecast for XRP is also improving. On Wednesday, Ripple obtained a license to conduct business in Singapore, which was reported as bolstering the price of XRP.
As it now maintains its position to the north of its 200-Day Moving Average, XRP was last trading around flat on Wednesday in the $0.53 range.
Nevertheless, despite recent legal victories for Ripple, the cryptocurrency’s technical outlook is still unclear.
In August, the price of XRP interrupted its upward trend for 2023, decreasing the possibility of a short-term return to the previous year’s highs in the $0.90 range.
In the event that Ripple completely defeats the SEC in court, XRP has been predicted to significantly outperform during the approaching crypto bull market.
But this year, it might have trouble getting to $1.
These alternative coins are listed for potential XRP users to consider.
(BTCMTX) Bitcoin Minetrix
Bitcoin Minetrix, a buzzy new decentralized Bitcoin mining system, has already raised close to $500,000 in funding from early investors for its $BTCMTX token presale.
The $BTCMTX token, which investors can purchase and stake to start earning non-transferable Bitcoin Minetrix mining credits, powers the protocol.
The owners of these credits will then receive a portion of Bitcoin Minetrix’s mining profits in exchange for burning the credits.
Holders of the BTCMTX token will also receive prizes, with a portion of the token supply already reserved to honor early stakers.
The smart contracts that govern the Bitcoin Minetrix protocol are constructed on top of the decentralized Ethereum blockchain, which is also where its token is issued.
Therefore, compared to other centralized cloud mining services, the protocol provides greater transparency and security.
($MK) Meme Kombat
Meme Kombat, a cryptocurrency start-up, has had an interesting new presale that has been creating a lot of buzz recently.
Meme Kombat is an intriguing platform that combines the worlds of crypto gaming and gambling by allowing users to wager on the results of thrilling battles between characters based on some of the most well-known meme coins in the crypto world.
The hefty staking incentives, which are now greater than 100% annually, are another advantage for early MK investors.
Even though the project has only been active for a few days, it has already raised close to $300,000.
Casino TG ($TGC)
TG.Casino, an innovative Telegram-based cryptocurrency gambling startup, is dominating Web 3.
Crypto gaming has experienced significant growth in 2023, with protocols like Rollbit witnessing explosive user growth and the platform’s native currency experiencing significant gains.
But given that individuals must understand difficult concepts like setting up, connecting, and using crypto wallets, using these platforms for betting by users who are not crypto natives still presents significant challenges.
To put cryptocurrency gambling at the fingertips of Telegram’s 700 million (and rapidly expanding) users, TG.Casino aims to achieve for it what Unibot did for sophisticated cryptocurrency trading.
In an exciting presale, TG Casino is raising money for platform expansion and has already sold over $400,000 worth of its native TGC tokens.
Early investors are already earning returns of around 1,000% (due to incentives reserved for $TGC token stakers; all presale tokens are automatically staked).
While this yield will eventually decrease as more money flows into the presale, $TGC token holders will also profit from TG.Casino’s anticipated token repurchase strategy, which will give $TGC token stakers passive income and drive up the price of the token through token burning.