It’s been an eventful few days for XRP (XRP) holders, given the latest news regarding Ripple Labs’ battle with the SEC.
Now that the SEC’s motion to appeal July’s ruling has been thrown out, there’s growing belief among XRP bulls that the token could be poised to explode before the end of the year.
Meanwhile, several other altcoins are also making headway as 2023 comes to a close – with Bitcoin Minetrix (BTCMTX) being the standout performer in this regard.
Judge’s SEC Appeal Rejections Prompt XRP Rally
In a significant development this week, District Court Judge Analisa Torres rejected the SEC’s motion to appeal a prior ruling in its case against Ripple Labs, the creators of XRP.
The court asserted that the SEC failed to present “substantial grounds” that would warrant an appeal, which was viewed as a massive win for XRP.
Despite this setback for the SEC, the battle isn’t over, with the regulatory body set to take Ripple Labs to trial in April 2024 to resolve some remaining issues.
The case’s final outcome could have enormous implications for the crypto market as a whole, which continues to face increased regulatory scrutiny from the SEC and other entities.
Regardless, this latest turn has positively impacted investor sentiment, with XRP’s price surging almost 8% on the news.
Can XRP Reach the $10 Milestone This Year?
Turning to market matters, many investors are asking: Could XRP hit the $10 mark this year?
Although XRP did see an immediate surge following Judge Torres’ decision, price retraced in the days that followed, with the token now trading for $0.527.
XRP has been as high as $0.932 in July this year but has faced substantial volatility since then.
As such, a move to $10 would represent an almost 19-fold increase – a highly unlikely jump for a token of XRP’s size and stature.
While legal wins like the recent court decision could act as a catalyst for a sustained price pump, the pending trial in 2024 remains a wild card that may play on investors’ minds.
In summary, although there is optimism around XRP, reaching the $10 threshold this year seems like a tall order – though it isn’t out of the question over the long term.
Which Other Cryptos Could Pump This Year?
While reaching $10 seems unlikely for XRP in the near term, other emerging cryptos are primed for major gains.
One such crypto is the high-potential mining token Bitcoin Minetrix, currently in its limited-time presale phase.
Bitcoin Minetrix Looks Primed to Explode as Discounted-Price Presale Hits $530k Milestone
Bitcoin Minetrix (BTCMTX) is catching the eye of investors and analysts alike, and many believe it has the potential to pump this year.
Hosted on the Ethereum blockchain, Bitcoin Minetrix is a Stake-to-Mine platform, meaning users can pledge their BTCMTX tokens to earn non-transferable credits.
These credits can then be exchanged for cloud mining power – allowing users to accrue BTC rewards over time.
Given BTC’s inherent potential, Bitcoin Minetrix offers an enticing opportunity for investors to indirectly benefit from Bitcoin’s performance while diversifying their crypto portfolio.
Alongside this mechanism, Bitcoin Minetrix also allows users to earn additional BTCMTX by locking up their tokens – with yields of 1,197% on offer.
Bitcoin Minetrix’s team is even attempting to engage its community through a $30,000 “Minedrop,” where users can have a chance to win one of 10 prize allocations, each consisting of $3,000 worth of BTCMTX.
There are six ways to enter this competition, all of which are simple tasks related to Bitcoin Minetrix’s social media, such as following the project’s official Twitter account.
Bitcoin Minetrix is still in Stage 1 of its ten-stage presale, with BTCMTX tokens on offer for $0.011.
With over $530,000 raised already, this stage is selling out fast – meaning those who wish to obtain BTCMTX at the lowest price will need to act quickly.