XRP price prediction following Ripple's legal win and one new crypto for your watchlist Ripple Labs' legal issues with the SEC are nearing resolution, which could drive further price gains. The Meme Games, a new meme coin inspired by the Olympics, is also garnering investor interest
After a rough ride, XRP is back on its feet. The selling price of XRP stood above $0.6 at the time of writing. The altcoin has recorded a 40% jump on the monthly chart. Where is the XRP price headed next in this bull cycle?#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} XRP is positioned for a comeback
The pre-halving rally and the crypto ETF craze didn’t help XRP with an impressive performance. It has pumped 10% in a year, while Bitcoin surged by approximately 100% and Ethereum saw a 30% gain.
2024 marked a disappointing year for XRP investors. Much of it has to do with Ripple’s legal battle with the United States Securities and Exchange Commission (SEC) since 2020.
Ripple is accused of using XRP as an unregistered security. That has played a key role in XRP’s decadence.
Spotlight WireXRP one-year price action, source: CoinMarketCapEven during the aggressive bull run of 2021, XRP was unable to reclaim its all-time high of $3.84. It has lost around 85% of its value since. Currently the world’s seventh-largest cryptocurrency, XRP has a market cap of $33 billion. Successors like BNB and Solana rank higher than XRP at this point.
The current turn of events, however, is in favour of Ripple Labs. In a recent ruling, a federal judge imposed a $125 million civil penalty on Ripple Labs, marking a 94% reduction from the SEC's proposed penalty.
The verdict has sparked optimism in the altcoin. It brings the prolonged case closer to resolution.
XRP price forecast for the second half of 2024
The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s…
— Brad Garlinghouse (@bgarlinghouse) August 7, 2024
XRP has a price correction long overdue. It is likely to be realised over the rest of the year. XRP has already begun to reverse the recent losses. It has high upside potential as the broader market turns green.
With the legal uncertainties surrounding Ripple clearing up, more investors are buying XRP at low prices before the break-out. If the market enters into a bull cycle this month, XRP has the potential to climb up to $0.9. Towards the end of the year, $1.2 is a realistic goal for the altcoin.
Whether XRP can cross $3 and set another all-time high any time soon remains uncertain. If the broader market conditions are favourable and the legal battle against the SEC comes officially to an end, it is not a long shot.
XRP is not the only altcoin in the spotlight. A new crypto has won the attention of the market, capitalising on the Olympic craze.
Hot new altcoin catalyses the Olympic mania
The Meme Games ($MGMES), popularly called the ‘Olympics meme coin of 2024’ has sparked the latest crypto frenzy.
As the hype continues to build, investors are hoarding $MGMES tokens in the ongoing presale at low prices before it’s too late. The presale is accompanied by attractive crypto-staking APYs for early investors.
Dogecoin, Pepe, Dogwifhat, Brett, and Turbo compete in the virtual race. They don’t win gold for themselves, but for their backers. The prize is a 25% token multiplier that is too compelling to ignore.
Game rules are simple
Investors should grab $MGMES tokens in the ongoing presale to enter the competition. Once the purchase is made, they will be asked to pick a meme coin athlete to back. Then they will see the five meme coins race for victory. In the game, each meme coin represents a different country, like in the Olympics, for added excitement and thrill.
The winners are selected by the blockchain. It ensures high standards of fairness and transparency. If the backed meme coin wins the race, the investor gets a 25% bonus on their presale purchase.
Spotlight WireThe Meme Games is not the first game to create buzz by tapping into a popular trend. Meme coins are an integral part of online culture now, and the new crypto is an excellent manifestation of the crypto community's strength. The project is sparking conversations with its viral appeal. It has attracted over 16,000 followers on X (formerly Twitter) and 2500 members on Telegram within just a few days of the presale launch.
Top crypto analysts and influencers have taken note of the project. For example, Crypto Gains (135k subscribers) recently featured The Meme Games with a promising outlook.
Is $MGMES the next Bonk?
The Meme Games presale ends on 8 September 2024, along with the conclusion of the Paralympics. Early investors are not just eligible for higher discounts, but also staking rewards.
Spotlight WireThere is no limitation on the number of times an investor can participate in the presale or how much they buy each time. That makes the competition accessible to investors of varying budgets.With the Olympic mania growing to new heights, the Meme Games is a new crypto not to miss. It is a potential top-5 meme coin that could join the ranks of Bonk and Dogwifhat in the next bull cycle.
Buy $MGMES tokens in the presale
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This story originally appeared on: India Times - Author:Faqs of Insurances
