Smart money investors are preparing for the next bull run, which could start as early as next month.
XRP has emerged as the top pick for the whales, with wallets holding at least 10k XRP surging over the past few weeks.
Smart money investors are also buying new meme coins, with coins such as WienerAI and Pepe Unchained in high demand.
Whales Buy XRP As Ripple vs SEC Lawsuit Nears End
The strong demand for XRP isn’t surprising. It remains one of the most undervalued large-cap altcoins which is down over 80% from its all-time high.
Indeed, XRP has been sidelined for most of this bull cycle, likely due to the ongoing legal battle between Ripple and the US Securities and Exchange Commission.
For instance, the XRP price skyrocketed to $0.82 after Judge Torres of the SDNY District Court ruled in Ripple’s favour, claiming that its programmatic sales did not violate the Securities Act. This proved that XRP is not a security in itself.
However, the token squandered all its gains over the next few days and was soon trading at the pre-ruling levels. This could be attributed to the fact that the Ripple vs SEC lawsuit was still ongoing and the Commission could appeal Torres’s initial ruling.
However, this could now change as SEC Chairman Gary Gensler’s days appear to be numbered in the Commission. Republican candidate Donald Trump has already promised to fire Gensler on his first day and Harris could do the same.
Consequently, the odds of an SEC appeal have decreased considerably and the Ripple vs SEC lawsuit could end with Torres’s remedies ruling.
As a result, smart money investors have started stacking XRP, with the number of shark and whale wallets increasing considerably over the past 5 weeks, data from Santiment reveals.
This indicates that the XRP price could see a bullish breakout in August, especially if it flips the $0.66 resistance.
However, the crucial resistance level for the token remains $0.90, considering it is the upper trendline of a 6-year symmetric triangle. A bullish breakout above it could push XRP towards its all-time high.
Smart Money Investors Are Also Stacking New Meme Coins
Large-cap altcoins such as XRP can only offer limited returns. On the contrary, investors raked in millions in profits with new meme coins during this year’s first-quarter rally
For instance, popular crypto trader Cilinix Crypto – who has over 66k YouTube subscribers – recently revealed that he has purchased WienerAI (WAI), a new AI-powered meme coin.
He is also not the only one, considering that WAI has raised over $9 million in its presale.
Investors are impressed with its strong early demand and real-world use cases. For instance, the meme coin will launch its own Trading Bot, which the developer team is portraying as the ChatGPT of crypto.
Similarly, WienerAI has its own staking program, which allows holders to earn staking rewards at an APY of over 100%.
Similarly, deep-pocketed investors appear to be stacking Pepe Unchained (PEPU), the latest frog-themed meme coin that has raised over $6.6 million in a few short weeks.
Similar to WienerAI, PEPU is a high-utility meme coin. In fact, it is launching its own Layer-2 chain with the aim of delivering low trading costs and high staking rewards. Experts believe that this could result in high retail investment into the token, separating it from other new meme coins.
It’s no surprise that smart-money investors are aiming for up to 100x returns with Pepe Unchained.
