XRP, the global payments token from Ripple Labs, soared nearly 70% in the past week.
The explosive price movement came on the heels of a court ruling that found that XRP sold on crypto exchanges should not be considered a security—a key finding in Ripple’s favor in the case brought against it by the US Securities and Exchange Commission (SEC).
XRP is now trading at $0.83, a price level it last achieved in March 2022. The results of the ruling are being hotly debated by analysts, but many think that XRP could reach $1 or more this month.
At the same time, new crypto tokens like BTC20 and Wall Street Memes are also benefiting from the bullish exuberance over the court ruling. These tokens offer potentially significant gains for investors who missed on XRP’s rise this week.
Analysts Bullish on XRP, Price Targets Up to $30
Virtually across the board, crypto analysts are bullish on XRP following the decision in the lawsuit.
The lawsuit has long held XRP’s price in check, as there was little prospect that banks would use the payment token if it was ruled an illegal security. Now that it’s been deemed not to be security in most instances, Ripple Labs was quick to announce that banks will likely start using the payment system.
That, along with renewed investor confidence in XRP, is expected to send the price soaring far beyond the 70% gain seen so far.
One analyst, Tolberti, explained on TradingView that XRP is likely to jump at least to a resistance level at $1.30. If it’s able to break through that level, it could retest its all-time high of $3.28. That would represent a nearly 4x gain from today’s price.
Other prominent crypto analysts have been even more bullish. Thomas Kralow, manager of the hedge fund Kralow Capital and a YouTube influencer with more than 330,000 subscribers, proposed a near-term price target of $8-$10 for XRP. His long-term price target, announced before the ruling in the SEC case, is $30.
If accurate, these price targets signal significant gains for investors. $10 represents an 1,100% gain from today’s price. $30 represents a 3,500% gain.
It remains to be seen whether, as Ripple predicted, banks adopt XRP on a large scale. However, it seems highly likely that XRP will continue to rise in the wake of the court ruling and smash through the $1 price level this month.
Other Rising Tokens: BTC20 Raises $240,000, Rides Bullish Wave from Court Decision
The ruling in Ripple’s case has been hailed as a win for the crypto industry as a whole. It suggests that many of the altcoins that the SEC has tried to regulate as securities are in fact not securities. This is a seismic shift that could unleash a new wave of investment in altcoins.
One project benefiting from this is BTC20, which is rebuilding Bitcoin as an ERC-20 token on the Ethereum blockchain.
BTC20 is like Bitcoin, but better. It leverages Ethereum’s proof-of-stake blockchain to eliminate the need for energy-intensive mining, making the token more sustainable than Bitcoin. Investors who stake BTC20 can also earn staking rewards—something that isn’t possible with Bitcoin.
The project is offering up to 6.05 million BTC20 at a price of $1 during its presale. That’s because for a brief time in 2011, that was the price of Bitcoin and the number of tokens in circulation. Like for Bitcoin, the total supply of BTC20 is capped at 21 million.
BTC20 has already raised $240,000 through its presale, which launched just one day ago.
Wall Street Memes Raises $16 Million as Meme Craze Continues
Meme coins of all stripes are also up this week on the legal news around XRP. That includes Wall Street Memes, a new meme coin that’s raised $16 million in one of the biggest crypto presales of the year.
Wall Street Memes is building a community for crypto enthusiasts, Wall Street Bets members, and anyone who despises the greed of traditional finance. It uses hilarious memes to shed light on the insanity of Wall Street and encourage investors to jump on the latest crypto tokens.
The project has found an enormous following. It has more than 250,000 Twitter followers and more than 13,000 Telegram subscribers. Wall Street Memes’ memes have even been retweeted by Elon Musk, the CEO of Twitter and a beloved memester within the crypto community.
The team behind Wall Street Memes is experienced and has built a lot of trust not setting aside any $WSM tokens for themselves. The project’s founders only make money if the token is a success.
Wall Street Memes is available to buy on presale now at a price of $0.0319. Investors need to hurry to lock in the best price since the presale is more than 50% sold out.
Visit Wall Street Memes Presale