Will The XRP Price Hit $1? Not Before XRP20 Stake-to-Earn Crypto Hits $20k

The crypto market is once again in the grips of strong bearish forces as Bitcoin fell below the $29,000 price mark.

Curve Finance’s $70 million hack and the SEC’s hawkish stance are taking a heavy toll on the entire industry, with the global crypto market cap shrinking 1.5% in the past 24 hours.

Altcoins are also taking a major beating as XRP corrected over 2.5% over the past day. The token’s recent lack of upside has raised doubts over its ability to breach the $1 mark.

Meanwhile, investors are now eyeing the recently launched XRP20 token with great interest. The token is offering a second chance to investors who missed out on Ripple’s 22,700% bull rally and is generating tremendous FOMO in the presale.

XRP Continues To Slip As Ripple’s SEC Win May Be In Trouble

Ripple’s landmark victory against the US Securities and Exchange Commission resulted in an explosive price surge that saw XRP trade near the $0.9 mark, making $1 look all but inevitable.

However, the token has since failed to sustain the rally as it slipped another 2.5% over the past 24 hours. Despite XRP supporters remaining confident in its short-term prospects, it has depreciated close to 9% in the past two weeks and is trading at $0.69.

The latest blow to the token came in the form of a Southern District of New York court ruling, in which Judge Jed Rakoff emphatically disagreed with Ripple’s victory and the analysis behind it.

Judge Analisa Torres awarded a partial win to Ripple when she ruled that XRP’s programmatic sales to retail investors did not violate the Securities Act while its institutional sales did.

However, Rakoff notes that the Howey Test, a four-pronged criterion that determines whether an asset is a security, does not make any such distinction.

Rakoff’s ruling provides a major boost to the SEC, which had already expressed its intent to appeal Torres’ ruling. With XRP now trading south of the $0.7 mark, a successful appeal can be catastrophic for the token both in the short and long term.

SEC’s hawkish stance against the crypto industry does not stop with XRP as Coinbase CEO Brian Armstrong revealed that the top financial watchdog asked him to delist every crypto token other than Bitcoin.

If true, this would mean that the SEC considers every token other than BTC to be a security, an assessment that lines up with the previous statements made by Chairman Gary Gensler.

Scams and hacks also remain a huge obstacle to the crypto market’s sustained growth. Curve Finance, the second-largest decentralised exchange, confirmed that multiple ETH pools were hacked due to a vulnerability in the Vyper programming language.

Furthermore, the heavily hyped Bald meme token suffered a major rug pull, with data showing that the malicious activity may have ties to Sam Bankman-Fried’s Alameda Research.

With the market taking a turn for the worse, experts believe that XRP would need a miraculous price reversal to breach the $1 mark.

XRP20 Presale Launch Provides Hope as Investors Rush to Buy

While the XRP price struggles, a new token based off of it is providing investors with new hope.

For traders that missed out on XRP at its all-time low price of $0.0028, the newly launched XRP20 token could be an alternative.

The token, which claims to be the “second coming of XRP”, is priced at just $0.000092 and is looking to replicate Ripple’s 22,700% bull rally.

The “Meta 2.0 Version” theme has become the new major trend of the crypto market, with tokens like Pepe 2.0 and Shiba Inu 2.0 displaying 1000% rallies.

Ripple’s recent victory has led to a strong surge of interest in XRP, setting the stage for an explosive performance by the XRP20 token.

The project is also offering an on-chain stake-to-earn mechanism, a major point of interest for retail investors that allows them to earn attractive passive income. Similarly, XRP20 is designed as an ERC-20 token, making it easy for investors to trade, track and store it.

The token’s community-driven tokenomics is also generating enormous hype. Its presale has a soft cap of $1,850,000 and a hard cap target of $3,680,000, making it a true low-cap gem. Furthermore, 20% of the token supply is also allocated to be burned, driving up the token’s value.

XRP20 has already raised over $9k in the presale in a matter of a few hours and is expected to sell out extremely quickly. Interested investors can purchase the token by swapping ETH or USDT in exchange for it.

Visit XRP20 Presale