XRP Recovers As Bulls Take The Contol: But New XRP20 Is Best New Crypto to Buy as It Rallies in Presale
XRP and its parent company Ripple Labs have been going through a price rollercoaster in the past few weeks. Ripple has been in a legal battle against the SEC for over two years now, and just when it seemed that the ordeal was over, the tables turned on the world's 7th highest-ranked crypto by market cap again.
Namely, the court ruled that Ripple was not selling securities, which drove the XRP token price from the $0.45 range to $0.85 instantly. However, the SEC announced an official court appeal, which resulted in another bearish phase for Ripple. The situation is uncertain, so many investors are moving to the newest XRP-inspired crypto - XRP20.
Ripple SEC Lawsuit BackgroundRipple had one of the largest bull runs in cryptocurrency history in January 2018, when the XRP token reached over $3, jumping from the $0.20 price range in a few months. XRP tokens are still among the highest-traded cryptocurrencies, but their value is much lower than it once was.
Like all other cryptocurrencies, XRP lost over 80% of its all-time highs during the crypto winter of 2022. However, Ripple's biggest issue is the SEC lawsuit that accused the platform of selling unregistered securities during the token's launch. The lawsuit had massive implications for Ripple and the rest of the crypto markets.
After two years of legal battles, Ripple came out the other end as the winner. Naturally, the XRP token exploded immediately, nearly doubling days after the news became public.
It took only six hours for the token to jump from $0.47 to $0.82, but the explosive growth was quickly stopped after SEC said it would appeal the court's decision.
Just as XRP entered swift recovery mode, the news about the SEC's appeal to the original court decision shook the platform's foundation again. As soon as the news dropped, XRP entered a steady downtrend that will likely decrease the coin's price back to the $0.45-0.47 level, if not lower, until the case is closed again.
The recovery period of two weeks seemed like the turnover millions of XRP token holders were hoping for, but their hopes fell short sooner than expected. XRP is slowly slipping down and will continue falling in the short and medium terms or until Ripple proves its innocence in court.
However, according to Stuart Alderoty, the Chief Legal Officer of Ripple, the SEC doesn't have the right to appeal yet, which is why they require permission to file an interlocutory" appeal. He also announced that Ripple will provide a legal response next week.
The SEC does not have the right" to appeal just yet which is why they are asking permission to file an interlocutory" appeal. Ripple will file its response with the Court next week. Stay tuned. https://t.co/zCeVZhYfxc
- Stuart Alderoty (@s_alderoty) August 9, 2023
On the other hand, the SEC filing says that the regulatory body only seeks to certify the court's decision proves without a doubt that Ripple didn't have any Other Distributions" in exchange for labor and services they used while building the platform.
Ripple is still awaiting trial on other issues that should result in Q2 2024. Therefore, the future of XRP and Ripple is still in question, and until the public gets the final ruling, the token will likely stay below $0.45.
XRP20 - Independent Staking Platform As The Best XRP AlternativeXRP is still widely regarded as the best crypto-staking platform despite struggling to stay afloat and attract new investors. The legal battle against the SEC and other issues forces investors to move to other platforms with more potential. Many chose XRP20 as the best new crypto alternative to XRP, and that's exactly what it is. Moreover, the new independent token is inspired by Ripple's impressive historical success, but it's designed to avoid the many issues that plague the original platform.
Its goal is to recreate and potentially surpass Ripple's success, and it plans on doing so by offering investors high rewards for staking their tokens. In a way, XRP20 is similar to XRP, but it does provide some significant improvements that should help facilitate future growth and high ROI.
The new platform is designed according to the best industry standards, without private token sales, team allocation, or other issues that could lead to future rug pulls and legal problems.
XRP20 will have 100 billion tokens. 40% or 40 billion is available during the presale, and another 40 billion will be given out through staking rewards. The remaining 20% will be split in half, with 10% going to DEX liquidity pools, while the remaining 10% will be used for burn allocation.
The platform has a deflationary mechanism will send 0.1% of every buy and sell to a special burn address. The mechanism will reduce the number of tokens in circulation over time, increasing scarcity and boosting the value of the XRP20 token.
XRP20 Presale Going On Extremely WellXRP20 entered presale on August 2nd, 2023. It raised over $1.8 million in the first week, getting closer to the $3.68 million hard cap by the minute. The presale is 100% fair and transparent, so it's going well.
If the same trend continues, all 40 billion XRP20 tokens will be sold before August 20th, so you don't have much time to grab your tokens at a crazy-low price of just $0.000092.
Everyone was looking forward to the grand return of Ripple's XRP token, but sadly, that will still have to wait another year until all accusations by the SEC are settled in court. The original XRP will likely return to the $0.45 level in the next few weeks, while the newest independent version of the token, XRP20, is gearing up for a massive bull run.
XRP20 tokens are selling at the lowest price they'll ever be, and the presale will probably sell the entire supply of 40 billion tokens in less than two weeks. So, visit the official site and don't miss your chance to invest in the next big gainer in 2023.
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