The XRP price is up 1.5% in the last 24 hours. It has reached a value of $0.358245 as the altcoin is recovering from yesterday’s big market selloff. It has fallen 23% in the last 30 days, but there is hope surrounding Ripple’s case with the SEC, which promises to see it rise in the coming weeks as the case comes to a long-awaited conclusion.
While Ripple’s odds took a hit earlier this month when LBRY lost a similar case against the SEC, the outlook has improved with its success in filing 14 amicus briefs, with the SEC only able to file 1 before the November 18 deadline . Because of this, there is a real chance, with Ripple also enjoying minor gains this month, that it will receive a positive result and XRP can start to rise again.
XRP Price Expectation Reverses Despite Cryptos Plunging – Start Of New Rally?
The moves in XRP earlier this month meant that its relative strength index (purple) had fallen below 30, indicating oversold conditions. Meanwhile, the RSI has since recovered a bit and while it started to fall in the previous days, today’s jump halted that fall and the momentum indicator may start to rise again.
Looking at the 30-day moving average (red), it remains above the 200-day moving average but appears to be falling. Therefore, it is difficult to say from a purely technical perspective whether XRP is about to experience a rally soon, with indicators suggesting that more declines are in store.
This is a hypothesis supported by current market events, with the FTX collapse continuing to dampen investor sentiment. Add to that, of course, the global macroeconomic consequences of the war in Ukraine and various recessions, and voilà you have a cocktail full of negativity.
Despite this, XRP has benefited from some good news in the past few days. Most notably, the period for submitting amicus briefs (evidence and affidavits from third parties), which ended on November 18. Ripple managed to submit 14 such letters.
This leaves Ripple with a good chance of a positive court ruling (which both Ripple and the SEC have requested), or a potential settlement between the two parties. Because so many independent parties give their opinion and support, the case takes on extra weight.
Complementing their recent efforts, Ripple has also seen other positive developments in its legal battle with the securities regulator. Back in March, the court upheld Ripple’s right to timely warning, arguing that the SEC failed to provide sufficient warning that XRP could be considered a security.
Similarly, the court ruled in January that Ripple had access to documents and emails related to a speech given in 2018 by then-SEC Chairman William Hinman. Such documents could contain important evidence about how the regulator classified XRP, something that could support Ripple’s case.
With all this in mind, Ripple’s chances remain good. The new year can potentially bring some very good news. If so, XRP will undoubtedly rise significantly, with several exchanges (e.g. Coinbase) re-listing it.
Of course, there is still a chance that Ripple could lose the case. Therefore, some traders may prefer to look elsewhere for profit. And while the broader market struggles in 2022, some coins — especially new altcoins — are successfully delivering remarkable returns.
This is especially the case with tokens that have been pre-sold and then listed on exchanges, with some coins increasing in value by as much as 1,800% from their sale prices.
With that in mind, here are three of the most exciting new projects in the cryptocurrency world, each currently on presale.
Dash 2 Trade (D2T)
Based on Ethereum, Dash 2 Trade is a trading intelligence platform that provides investors with real-time analytics and social trading data, all of which can help make informed trading decisions.
Launching in the first quarter of 2023, the sale of its initial token D2T has already happened delivered more than €6.5 million. It has also announced listings on BitMart and LBank Exchange for next year, confirming that investors indeed have the opportunity to enjoy big returns.
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Robot Era (TARO)
Also running on Ethereum, RobotEra (TARO) is a sandbox-like Metaverse that will launch its alpha version in Q1 2023. The platform will allow players to play as robots and participate in the creation of the virtual world, including NFT-based pieces of land, buildings and other objects in the game.
1 TARO is currently worth 0.020 USDT (it can be bought with both USDT and ETH), although this will increase to $0.025 in the second phase of the presale, which will start soon.
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Calvaria (RIA) is a blockchain-based card trading game where players can also compete with their NFT-based cards and earn rewards. It promises to let players play the game without having to own any cryptocurrency, something that could help make it more popular than other crypto-based titles.
Within the ecosystem, RIA can be used to purchase in-game items and to bet, providing a strong use case in the ecosystem. The presale of the token has already raised €1.9 million and is currently in its fourth phase, where 40 RIA can be purchased for 1 USDT.
Now visit Calvaria