The price of XRP has dipped by 1% in the past 24 hours, dropping to $0.515094 as the cryptocurrency market as a whole falls by 0.5% over the same period.
XRP’s current price means that it has risen by 1.5% in a week and by 35% in the last 30 days, with expectations surrounding the outcome of the Ripple-SEC case helping to boost the altcoin in recent weeks.
There has been an expectation for over a month now that this case could be due to end anytime soon, and that the outcome will prove largely favorable to Ripple, enabling it to continue its business as before.
If so, there’s little doubt that XRP would enjoy a massive rally, propelling it back up to $1 and later to its current all-time high of $3.40, before witnessing even bigger gains next year.
XRP Price Prediction as $800 Million Trading Volume Comes In – Can XRP Reach $10 in 2023?
XRP’s indicators continue to show strong momentum, with its 30-day moving average (yellow) still rising steeply above its 200-day (blue).
And even though its relative strength index (purple) has begun to sink very slightly, it still remains around 60, staying in a position where it could resume its ascent anytime soon.
And with Ripple looking forward to the end of its long-running case with the SEC, it may be only a matter of days or weeks before XRP receive another, much bigger boost.
Indeed, all major depositions, briefings and pieces of evidence have been submitted in the case, with both parties waiting for Judge Analisa Torres’ to make a decision.
Lawyer and XRP supporter John E. Deaton suggests that such a decision could arrive by May 6, which is now less than three weeks away.
If accurate, this prediction means investors don’t have much time left to acquire some XRP at discounted prices, with today’s slide arguably providing a good opportunity to buy the altcoin at a relatively low price.
Of course, there’s always a chance that Ripple loses the case, yet expert opinion seems to suggest that it has a good chance of securing a positive judgment or settlement.
For instance, lawyer Jeremy Hogan recently argued that the SEC hasn’t really been effective in proving one of the major arguments underlying its case, which is that buyers of XRP entered into an ‘investment contract’ with Ripple when they first bought tokens.
Assuming that Hogan is correct here, a Ripple victory would potentially enable XRP to become the best-performing top-100 cryptocurrency this year.
From $0.5, it would easily rise back up to $1 in a matter of weeks, with a return to more bullish market conditions also helping it to pass its current record high of $3.40.
And if crypto does re-enter a bull market at some point towards the end of this year or at the start of the next, we could even see XRP approaching $10.
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Whales are Accumulating This Little Known Altcoin – Here’s Why
That said, it could take months or even years for XRP to touch $10, so traders looking for a huge payoff may prefer to consider other altcoins.
One promising avenue for above-average returns over the past year has been presale tokens, with Love Hate Inu being one of the more interesting presale coins on the market right now.
It launched the sale for its native LHINU token just under a month ago, and has so far raised over $4.3 million.
This is an impressive figure, one which suggests that the cryptocurrency community has already developed a significant fondness for Love Hate Inu.
If so, the main reason for this will be Love Hate Inu’s fundamentals, with the project developing a decentralized polling platform that will enable users to earn rewards for voting in surveys.
One of Love Hate Inu’s most distinctive traits is combining its Shiba Inu-style meme token with Twitter-style polls.
By doing this, it hopes to attract a large community of token holders and voters, something which will help it gain a foothold in the global online survey market, which is predicted to reach a value of $5.69 billion by 2027.
With more than 34,000 followers on Twitter, it has already gone some way to developing a big community, and it’s likely such numbers will rise even higher once its platform launches by the end of Q2 2023.
Once launched, users will be able to participate in Love Hate Inu polls by staking their LHINU, something wihch will provide them with yields in return.
On top of this, Love Hate Inu is aiming to strike a range of partnership deals with recognized brands, who will conduct a variety of topical and interesting polls/surveys on its platform.
Interested traders and investors can join the LHINU presale by visiting the official Love Hate Inu website,
They can then use either USDT, ETH or fiat currency (via credit card) to purchase their LHINU, with one LHINU currently costing
The token offering is currently in its fifth stage, with one LHINU token costing $0.000115.
This will increase to $0.000125 in the sixth stage of the sale, which is due to begin in a week.
This regives potential investors only a limited window in which to buy one of the most interesting new tokens of the year at a discounted price.
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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
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