The XRP price bounced as Ripple CEO stated the case will close “in weeks, not months”. With the lawsuit nearing its end, many traders anticipate XRP to soar to $1 in the coming months, but could it do so while the rest of the market remains stagnant?
Following the Ripple CEO’s announcement, the XRP price climbed 10%, reversing a local downtrend.
The SEC filed a lawsuit against Ripple in late 2020, claiming that Ripple sold unregulated securities in the form of XRP tokens. The case remains ongoing and is the longest-standing lawsuit in crypto.
However, the verdict now looks all but settled, with the result expected to sway in Ripple’s favour. With this in mind, many holders expect the XRP price to pump in June as the verdict looms closer.
Crypto Geek recently announced the potential bullishness for XRP in a YouTube video, bringing another critical factor surrounding the XRP narrative to light. The video discussed that there could be XRP buybacks from high-profile stakeholders in the XRP ecosystem.
The YouTuber mentioned colossal players like the United States Federal Reserve and foreign governments are involved with XRP and could eventually use it as a bridge currency for their central bank digital currencies (CBDCs).
Whether or not governments adopt XRP remains to be seen. However, with the SEC case closing and the narrative of governments and banks adopting the crypto heating up, the price could be set to rally in June.
Looking at the chart below, we can see that XRP is currently forming an ascending wedge.
When an ascending wedge follows a downtrend, it can be a sign that the price could continue trending downwards. However, in this case, the bullish news regarding XRP could mean the token is ready to establish a higher high, with its price heading toward $1 if it breaks the $0.54 resistance.
The next resistance would be $0.92, and while it would make sense for XRP to reject this level, we could see a deviation where it breaks the level, touching $1 before returning into the range.
Ecoterra Presents High Potential Green Alternative with $4.6m Raised
While XRP is in turmoil, stuck between bullish news and a long-term downtrend, some traders have shifted their focus to other cryptos with higher upside potential.
Ecoterra is one of those. It is a new presale project that has raised $4.6 million so far. But despite being brand new, the project has already made tremendous achievements.
The project aims to be the first “Recycle2Earn” cryptocurrency, empowering users to make sustainable lifestyle choices and be paid for them.
So far, ecoterra has partnered with various household name brands, including Dr Pepper and Heinekin, ensuring users can recycle their products in ecoterra’s “Reverse Vending Machines” (RVMs).
The project has already attained partnerships with supermarkets, where they will install their RVMs, and where ecoterra users can go and recycle their used goods. However, the popular presale project does not stop there.
The ecoterra platform will also provide recycled goods and carbon credit marketplaces targeted at B2B users. On top of that, the project will offer an impact tracker profile, so brands can prove they are acting responsibly and with care for the environment.
Overall, ecoterra leverages blockchain’s immutability, transparency and verifiability benefits, along with the innovative “revenue share model”, to serve the entire circular economy.
Considering climate change issues are becoming more prevalent yearly, YouTuber Jacob Bury recently analysed the coin and said it has 10X potential after its presale.
Investors can currently purchase the ecoterra for $0.0085. However, the supply is limited, and the IEO price after the presale is set at $0.01.
DeeLance Reshaping Freelancing & Recruitment with Blockchain Technology
DeeLance is another crypto presale project that has recently gained significant notoriety. Like XRP and ecoterra, DeeLance aims to solve an issue on a global scale.
However, unlike XRP, DeeLance still has significant growth potential if it succeeds. DeeLance has so far raised $1.2 million and is priced at $0.038, its listing price following its presale is $0.057, and the project has a hard cap of $6.8 million.
DeeLance is a freelance and recruitment platform that seeks to become the blockchain version of Fiverr or Upwork. However, since it is built upon the blockchain, the platform will be fully decentralised and offer a range of unique benefits compared to legacy freelance sites.
Some main issues freelance sites face are international payment settlements and fees, work ownership and high platform fees. The new presale project tackles these issues in several ways.
Firstly, on DeeLance, payments are borderless and transaction fees are minimal since the $DLANCE crypto powers the project.
Secondly, work can be issued as NFTs, which makes it transferable and immutable, solving the issue of work ownership rights.
Finally, the platform is decentralised and has a scalable dispute-resolution mechanism. Therefore, DeeLance charges much cheaper platform fees than legacy freelance sites.
Several high-profile crypto traders have discussed the project in recent days. CYPTOPRNR recently listed the token alongside some other low-cap coins, stating it has 100X potential.
While the prediction seems high, the Cryptonews YouTube channel also said DeeLance has 10X potential, highlighting its impressive use case as the primary price driver.
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