Ripple (XRP) has soared by more than 10% in the past week after breaking past the $0.5 mark. While offering strong technicals, the ongoing lawsuit with the SEC leaves a lot of uncertainty about the crypto token’s future.
On the other hand, Wall Street Memes ($WSM) and DeeLance ($DLANCE) are emerging as two new crypto alternatives, having raised millions during their ongoing presales. Let’s review the XRP price increase, whether it will continue, and why traders are backing these two new crypto presale projects.
After Soaring Over 10% in the Past Week, Can XRP Explode Even Further?
Ripple (XRP) is a peer-to-peer crypto-based payment platform used by multiple banks and financial institutions globally. The platform leverages the XRP token to offer instant transactions. Notably, users must pay the low cost of just $0.0002 per transaction when trading XRP.
In the past 7 days, this cryptocurrency is up by 10.8%. Priced at $0.51 per token, XRP has a live market capitalization of $26.7 billion. After failing to trade up the 200-day moving average (MA) of $0.4, the token managed to breach these levels and has traded between the $0.4 – $0.5 levels.
Boasting strong technicals, the token also managed to move past the 50-day moving average of $0.45. Now that the token is trading above the $0.5 zone, it will look to make a move toward the $0.6 resistant zones. However, this will be a big challenge for the cryptocurrency since the $0.6 mark has not been touched since April 2022.
Despite the positive performance, the Ripple network has been embroiled in a long-drawn feud with the SEC (Securities and Exchange Commission). In 2020, the SEC filed a lawsuit against this cryptocurrency, alleging the company illegally sold XRP without registering it as a security.
Therefore, the token has been trading sideways for the past few years. Due to the uncertainty related to the lawsuit, there is no guarantee that XRP may offer huge returns in the long term. However, we will now look at two new cryptos, which may offer huge growth in the coming years.
Wall Street Memes ($WSM) – New Meme Token which has Raised $2.8 Million in a Week, Offering a $50k Airdrop Competition
One of the top crypto alternatives to XRP is $WSM, the native cryptocurrency of Wall Street Memes. Tracing back to 2019, Wall Street Memes has established an organic following of more than 400K on Twitter and Instagram.
On Twitter, the likes of Elon Musk have tweeted and interacted with this crypto project. On Instagram, Wall Street Memes has built a community of over 500K strong. The creators of Wall Street Memes took a big step in 2021 by releasing Wall St Bulls, its own NFT project. The first collection sold out in 30 minutes, where 10,000 NFTs were up for purchase.
Now, Wall Street Memes aims to generate wealth for its large community through the $WSM token. $WSM will function as a community-driven token since 100% of the token supply will be for the public. 30% of the 2 billion token supply will be offered as community rewards, while 20% will be used for DEX and CEX liquidity.
The remaining 1 billion supply has been allocated for the ongoing presale. The presale will consist of 30 rounds and will see the price of $WSM increase by 34.8% from $0.025 to $0.0337 per token.
Currently, the token is priced at just $0.0265. Since the presale started, Wall Street Memes has raised more than $2.8 million. The platform aims to raise more than $30.57 million throughout the presale.
To stay updated with the presale and platform developments, join the Wall Street Memes Telegram channel.
DeeLance – A Decentralized Freelance Crypto Ecosystem which is Making Freelancing Cheaper and More Secure. $1.2M Already Raised
With the help of the $DLANCE token, DeeLance uses blockchain protocols to revolutionize the freelancing space. Centralized freelancing agencies have been called out for charging high fees and the uncertainty they provide to freelancers.
But DeeLance offers crypto payment methods and escrow services and lets you tokenize your work. Firstly, clients can guarantee payments to freelancers by holding funds using escrow payment services. To avoid any chances of copyright infringement, DeeLance lets freelancers tokenize their works into NFTs through the NFT marketplace.
Using $DLANCE, freelancers and clients can connect remotely through the platform’s metaverse ecosystem. Tokens can be used to purchase virtual land and lease out office spaces. One of the top features of DeeLance is the low fees it charges.
Freelancers are charged a commission of only 10%, whereas other platforms charge up to 20%. Clients pay a fee of only 2%, far below the industry average of 10%. Currently available to buy on presale, $DLANCE is priced at $0.038 per token.