After a court ruling that Ripple (XRP) is not a security on July 13, its price exploded. However, the crypto encountered a huge resistance at $0.850, and bears are now dominating the market. BNB is also facing massive selling pressure currently, leaving investors with only one investment option of acquiring VC Spectra (SPCT) in Stage 2 of its presale.
Ripple (XRP): Price Keeps Dropping and Investors Keep Leaving
Following an explosive surge to the $0.850 mark after Ripple won the case against the U.S. Securities and Exchange Commission (SEC), Ripple’s (XRP)’s price encountered a resistance wall. Since then, Ripple (XRP) has recorded a noticeable loss of momentum. Recent on-chain indicators now suggest a possible change in sentiment, with Ripple (XRP) whale investors succumbing to the emerging bearish trend.
After the Federal Reserve hiked interest rates by 25 basis points, Ripple (XRP) encountered more selling pressure pushing its price lower.
After many unsuccessful attempts to break above the $0.85 resistance zone, Ripple (XRP) investors have decided to take profits and exit the market. Ripple (XRP) is currently being traded at $0.717, experiencing a 10.84% decline in the past week.
Although Ripple (XRP) is up 2.12% in the last 24 hours, experts say it is unsustainable. Analysts warn that unless Ripple (XRP) holds the $0.692 support, a further drop toward $0.635 by August is possible.
BNB Price Faces Uncertainty Ahead
The legal battle between the Binance crypto exchange and the United States Commodity Futures Trading Commission (CFTC) is approaching a critical moment, increasing uncertainty in the Binance Coin (BNB) market. This high-stakes confrontation has pushed BNB’s market sideways, with investors unsure of the next price action.
In that context, investors are now selling their BNB holdings in the perpetual futures market. Volume-weighted funding rates and open interest in BNB perpetual futures also plunged considerably since late April.
BNB was trading at $305 on June 4. But, BNB fell to $231 by the end of that month (a 24% drop). Since then, the price of BNB has dropped further as regulatory pressure has increased. BNB attempted a recovery push by July 12 but could not record more than a 5.1 % increase, pushing it to $243.
No clear signs show that Binance will resolve its regulatory issues soon, which negatively affects the price of BNB. As a result, analysts expect BNB to drop to $200 by the end of 2023. BNB is trading at $241, down 0.14% in the past 24 hours.
VC Spectra (SPCT) Attracts More Investors In Presale Stage
VC Spectra (SPCT) brings together a team of seasoned experts, an advanced trading platform, and smart contracts to develop a trustless asset management protocol for blockchain and technology ventures.
VC Spectra (SPCT) offers an attractive prospect for investors looking for above-average returns via alternative investments. Serving as a unique crypto-based hedge fund, VC Spectra (SPCT) specializes in funding promising start-ups in the blockchain and technology sector.
The center of its platform lies in the deflationary utility token, VC Spectra (SPCT), having a fixed supply of 1 billion tokens. This fundamental feature in VC Spectra (SPCT) enhances its appeal and scarcity value, contributing to the possibility of value appreciation.
Today, VC Spectra (SPCT) is available in Stage 2 of its public presale, presenting a great investment opportunity at $0.011 per token, representing an impressive 37.5% increase from its initial Stage 1 price of $0.008.
In Stage 3, VC Spectra (SPCT) is scheduled for a price surge to $0.025, representing a remarkable 127.27% growth from the current value. Investors who buy VC Spectra (SPCT) tokens in Stage 2 have the potential to see a huge 627% surge in value by the end of the presale stage, as VC Spectra (SPCT) targets to reach $0.08.
Learn more about VC Spectra (SPCT) and its presale:
Buy Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund