Should I Buy XRP Now – Is It Still An Undervalued Crypto In The $0.60 – $0.80 Range

On Aug 5, 2023

Join Our Telegram channel to stay up to date on breaking news coverage

After pumping over 100% in a day following Ripple’s SEC victory, XRP may no longer be an undervalued cryptocurrency, even now priced at $0.65 after a correction.

Following a remarkable rally triggered by a partial victory last month, XRP’s price surge appears to be waning. The cryptocurrency has experienced considerable losses, with whales transitioning from hodling to profit-taking.

This raises uncertainty about whether XRP is returning to its previous trading range or if it’s merely a temporary pullback during an upward trend.

Simultaneously, certain traders are showing interest in the newly introduced XRP20 token, seeking a more accessible Ethereum-based alternative to XRP, anticipating substantial growth potential.

XRP price struggles and now faces a bearish week

Ripple achieved a significant legal victory against the US Securities and Exchange Commission, resulting in a dramatic price surge, pushing XRP close to the $0.9 level and making $1 appear almost inevitable. However, the token’s momentum waned, with a 5.05% decline in the past 24 hours.

Despite XRP supporters’ optimism about its short-term potential, it has depreciated nearly 11.81% in the last 7 days, currently valued at $0.62. The latest setback came from a ruling by Judge Jed Rakoff in the Southern District of New York, where he strongly disagreed with Ripple’s victory and the supporting analysis.

Judge Analisa Torres partially favored Ripple by ruling that XRP’s programmatic sales to retail investors did not violate the Securities Act, but institutional sales did. Nevertheless, Rakoff pointed out that the Howey Test, used to determine whether an asset is a security, doesn’t make such distinctions.

This ruling boosted the SEC’s position, given its intention to appeal Torres’ ruling. With XRP now trading below $0.7, a successful appeal could have severe consequences for the token in the short and long term.

The SEC’s strict stance on cryptocurrencies extends beyond XRP, as Coinbase CEO Brian Armstrong disclosed that the watchdog asked him to delist all crypto tokens except Bitcoin, aligning with Chairman Gary Gensler’s prior statements.

Additionally, the crypto market faces challenges from scams and hacks, exemplified by incidents involving Curve Finance and the Bald meme token linked to Sam Bankman-Fried’s Alameda Research. In light of the current market situation, experts believe XRP would need an extraordinary price reversal to reach the $1 threshold.

On the other hand, despite XRP’s own price decline, it has climbed to become the fifth-largest digital currency by market cap, currently standing at $33.1 billion with a daily volume of $1.4 billion, which is 24% higher than 24 hours ago.

Nevertheless, the hype related to the lawsuit has diminished, and XRP is likely to follow the general market trend. Some analysts speculate that the recent price movement could be a significant pump, as it now hovers close to crucial Fibonacci support levels, raising the possibility of a potential price surge if the support holds firm.

Meanwhile, investors are showing great interest in the recently launched XRP20 token, which offers a second chance for those who missed out on Ripple’s 22,700% bull rally and is generating considerable FOMO during the presale.

XRP20 crypto presale soft cap selling out fast: Best alternative to XRP?

XRP20 presents a fresh Ethereum-based alternative to XRP, gaining popularity amid XRP’s recent challenges due to its advantageous features and lower market cap. For traders who missed out on XRP when it hit its all-time low price of $0.0028, the newly launched XRP20 token offers an enticing option.

Priced at just $0.000092, it is 30 times cheaper than XRP at its lowest point, sparking significant demand and reaching the $600k milestone. Touted as the “meta 2.0 version,” XRP20 garners attention from traders and investors for its strategic approach, leveraging the brand name, and providing an opportunity to replicate the impressive returns seen in the past.

The question arises whether XRP20 could replicate the astonishing 22,700% price explosion witnessed in XRP. With stake-to-earn utility as its foundation, XRP20 has the potential to revolutionize the crypto market, attracting enthusiasts seeking to make their mark in this dynamic landscape.

Exploring the compelling utilities of XRP20 becomes imperative. As the clock ticks, eager investors can easily purchase XRP20 by swapping ETH or USDT for XRP20 tokens on its official website.

XRP20 introduces the power of staking and deflationary design

XRP20, the revolutionary Ethereum-based alternative to XRP, is making waves in the cryptocurrency world with its game-changing utilities. Unlike Ripple, primarily used for international payments, XRP20 offers innovative staking and deflationary mechanisms that set it apart from its predecessors.

XRP20’s staking utility presents a golden opportunity for investors to earn passive income simply by staking and locking up their tokens. As they do so, they become active participants in the ecosystem and contribute to its growth.

The deflationary structure is another captivating feature. Every transaction involving XRP20’s native token, $XRP20, triggers a 0.1% burning rate, leading to a gradual reduction in token supply. This creates scarcity, boosting the utility and value of the token over time.

XRP20’s amazing tokenomics: Equal opportunity for all

At the heart of XRP20’s appeal lies its impressive tokenomics. With a total supply of 100 billion tokens, XRP20 strikes a perfect balance in its allocation strategy. A significant 40% of tokens are designated for the presale, while an equal 40% is allocated to staking rewards, fostering an engaged and active community.

Additionally, 10% goes towards exchange liquidity, ensuring smooth trading experiences, and another 10% is reserved for scheduled token burns, promoting scarcity and value appreciation. The most exhilarating aspect of XRP20’s tokenomics is the level playing field it offers.

Unlike many other projects, no tokens are reserved for founders or team members, making it an equal opportunity for all investors. As the presale unfolds, XRP20 aims to achieve a soft cap of $1,850,000 and an ambitious hard cap target of $3,680,000, positioning itself as a true gem among low-cap crypto.

A fascinating roadmap of XRP20: Paving the path to success

XRP20’s roadmap is filled with thrilling initiatives aimed at driving value growth and fostering community involvement. Following the presale, the team is committed to enhancing token scarcity through burn activation, creating a sense of anticipation for its open market launch.

This strategic move aims to generate heightened interest among investors and pave the way for a strong market presence. The next milestone on XRP20’s roadmap is its debut on a decentralized exchange (DEX), unlocking widespread access to the token and catapulting it to broader market recognition.

Once listed on crypto exchanges, the team plans to implement community staking, a rewarding system designed to engage and incentivize project supporters. This community-oriented approach has already ignited considerable interest among crypto investors, as evidenced by the impressive early growth of the XRP20 Telegram channel.

Conclusion

While many may have missed the initial gold rush with Ripple, XRP20 presents a second opportunity for investors to profit from a similar trajectory. Despite being distinct tokens, XRP20’s potential is often linked to XRP, causing any news around XRP to influence XRP20’s price as well.

Anticipation is growing for XRP20’s potential, with initial signals indicating the new cryptocurrency may emulate the rapid surge witnessed in XRP’s price. As a result, investors are encouraged to participate in XRP20’s ongoing presale and buckle up for an exhilarating journey.

In conclusion, XRP20’s introduction heralds a new era in the crypto realm, offering groundbreaking utilities and unparalleled potential for growth. Investors looking to be part of this thrilling adventure should consider exploring XRP20’s offerings and seizing the opportunity to be part of the future of crypto.

Take part in the XRP20 presale at xrp20coin.com.