Many crypto prices have pumped to yearly highs following Judge Analisa Torres ruling XRP is not a security in the landmark SEC vs Ripple Labs case.
The verdict produced mixed results, stating that XRP is not a security, but the institutional sales of XRP were security sales, opening the door to possible regulation of crypto by the SEC.
However, this did not stop the markets from its most parabolic day since the last bull market, with XRP climbing 90% and other cryptos exploding too.
Alongside XRP, some of the strongest cryptos to pump were XLM, SNX, SOL, LDO ADA and PEPE, each pumping over 20%.
The recent ruling has provided more regulatory certainty, meaning many sidelined investors could begin entering the market before the next bull run.
With that in mind, let’s look at the top cryptos that look set to explode.
Mr Hankey Coin
The self-proclaimed “hottest shit coin”, Mr Hankey Coin, sold out its presale yesterday, raising $500K in just nine hours.
Mr Hankey Coin’s presale hype was unparalleled, setting the project up for immense upside potential once it launches on exchanges.
The project is based on the beloved South Park character, Mr Hankey, but also embraces the “shit coin” theme. Its website makes light of it, saying things like, “We’ve ditched the glam, dumped the glitter, and plunged headfirst into the loo of reality”.
Evidently, this has sparked a connection with the community who are rallying behind Mr Hankey Coin due to its originallity.
The Mr Hankey Coin presale offered investors 40% of its 1 billion tokens, which were scooped up quickly. Another 40% of tokens will be locked for DEX liquidity to enable seamless transacting and protect investors from a rug pull.
Traders who secured $HANKEY presale tokens got them for a modest $0.00125. This equates to a $1.25 million market cap, presenting considerable upside potential. For example, a 100X would put the market cap at just $125 million, less than 25% of Pepe’s.
The Mr Hankey Coin DEX launch is set to take place today, and hopes are high that the price will explode once it’s listed. Stay updated by following the Mr Hankey Coin Twitter and joining its Telegram.
Ethereum
Ethereum has pumped 6.5% following the XRP verdict. While the gains are lesser than XRP’s or XLM’s, this means there is still room for further growth in the coming days.
The reason Ethereum is bullish right now is that SEC Chair, Gary Gensler has previously called Ethereum a security. However, with XRP declared not a security by Judge Torres, it is unlikely that the SEC could prove that ETH is indeed a security.
Therefore, institutions and enterprises now have a clearer view of the legallity surrounding Ethereum, which could lead to strong buying pressure in the weeks and months ahead.
Currently, Ethereum is nearing $2K, currently priced at $1,998. While this is a signficant resistance level for ETH, a break out could result in an explosive move upwards.
ETH has being trading above the 200 EMA since January and has been continually making higher lows. Furthermore, the price has recently broke its August 2022 resistance level.
Pepe
Pepe is a meme coin that rose to prominence in April of this year. While many critics thought the hype would die out, it seems the project is here to stay.
Since the XRP verdict, Pepe has been one of the strongest gainers, currently up 18% in the last 24 hours and 90% in the last week, with a current market cap of $691,788,272.
The project stands as the second highest trending crypto behind XRP according to CoinMarketCap.
One of the reasons for Pepe’s bullishness is that it is down 59% from its ATH in May. This presents significant upside potential on a crypto which can quickly amass hype.
Pepe has recently entered the Fibonacci Retracement “Golden Zone”, which could be confirmation of a trend reversal. Moreover, with very little resistance between its current price and ATH, a sharp move to the upside may be imminent.
