Ripple coin (XRP) is one of the older cryptocurrencies which gained popularity shortly afterduring the boom of bitcoin and Ethereum in 2018. The coin did well for itself in the market, although it never truly experienced a huge breakthrough. That was before it got caught up in litigation with the SEC.
However, as of the 23rd of this month, the price of XRP increased by 20% in just 24 hours, reaching $0.512129. This is an increase of 56% in just one week, as promising developments in the legal dispute between Ripple and the SEC suggest that the matter may be resolved sooner rather than later.
The most encouraging development for traders is that XRP has made significant gains over the past days despite the market collapse of the previous week, leaving the altcoin still down 48% over the previous 12 months. Additionally, it is down by 85 percent from the $3.40 all-time high it reached in January 2018.
On the other hand, meme coins like Tamadoge (TAMA) keep gaining popularity and increasing in price as meme coins look to take on the crypto market head-on and compete directly with the ‘common’ coins.
Cryptocurrency Why XRP Is On The Rise
XRP has increased by 58% since last Friday’s drop from its seven-day low of $0.324245 to its current price of $0.449966 as of this writing. On the other hand, it recently hit a four-month best of $0.552859, which indicates that it has declined by about 12 percent from this previous top.
The indications for XRP show that there is now a very high momentum. The coin’s relative performance index has crossed the 70-point mark and, despite a small decline earlier this week, it is still very near 75.
Additionally, XRP’s 1 month-moving average has shifted upward and appears to be on track to surpass its 200-day average. A breakout rally that may bring XRP back to levels last year, in the $1 to $1.30 range, could be indicated by such a scenario.
The Ripple-SEC lawsuit has seen significant changes in recent days that suggest it may be nearing a successful conclusion, which is a rather straightforward explanation for why the price of XRP is surging now.
There are also reports that XRP is winning some other side cases against the SEC, which is, in turn, bolstering their standing with the court and working in their favor. All of these point to a strong comeback for the coin in the coming months.
Cryptocurrency Crypto Is Still A Volatile Market
Although all seems good and prime for XRP, the cryptocurrency market is always subject to drastic changes and fluctuations. Despite all these, crypto experts can only ascertain that there is a really strong probability for XRP to once again pass the one-dollar mark. That being said, looking further ahead, you can reason that XRP can also possibly reach its all-time high again, but there are no strong indications that it would pass said record.
With competition against older coins (Bitcoin and Ethereum), it is a struggle to reach the previous all-time high, let alone surpass it in this new market, especially with the general shift towards the trending meme coins. It would not be advisable to bank on regular coins at a time like this.
As the crypto market is trend-based, it would be more advisable to invest in meme coins for more returns on your money.
Cryptocurrency Alternative Investment Option – TAMA
Let’s talk about meme coins as a preferable alternative for crypto investors. Meme coins are a part of the crypto market that is new and fast-growing and, as such, offers the stability that regular coins won’t.
One of the hottest meme coins in the market right now is Tamadoge (TAMA), a new coin with endless possibilities capable of competing with regular coins as it keeps growing. It is definitely the meme con to look out for and invest in, as experts have termed it a currency for the future.
Tamadoge, dubbed “the play-to-earn Dogecoin,” is the greatest meme play-to-earn platform that gives meme currencies like DOGE and SHIB new use cases by merging their widespread appeal with the increasingly common P2E crypto gaming format.
TAMA will likely escape the drawn-out correction meme tokens frequently experience, allowing for more consistent growth, as it has the P2E usefulness other meme coins lack.
Players will be able to breed, train, and battle with Tamadoge NFTs for TAMA prizes in this parody of the Tamagotchi game. Players will also be able to participate in challenges and mini-games to compete for a spot on the monthly leaderboard.
Cryptocurrency Upward Trend Of Tamadoge
On September 27, Tamadoge (TAMA) was launched on the OKX cryptocurrency exchange platform and immediately surged 89% to $0.0567 before a reversal and a decline in Bitcoin. investors that went in early enough are currently enjoying a 129% profit.
Some buyers that participated in the beta sale at $0.01 made gains when the market price was about $0.035, recording a 250% profit.
Since Tamadoge’s presale phase earned an incredible $19 million for the initiative, attention will be focused on TAMA’s price in the upcoming weeks as demand for this novel token continues to increase.
With an average daily trading volume of more than $1.6 billion, OKX is one of the 20 biggest cryptocurrency exchanges in the world, according to CoinMarketCap. Tamadoge will have access to a huge audience of prospective investors thanks to the exchange’s approximately 20 million registered members.
TAMA withdrawals are also now possible. Customers can invest and trade Tamadoge using the web-based platform of OKX or the specialized mobile app, which is accessible on Android and iOS smartphones.
Regulator restrictions prevent investors in the US and other nations from accessing OKX, but the decentralized exchange OKX (DEX) allows them to participate. Trading on the OKX DEX guarantees that everyone has the chance to participate in this highly desirable token, making TAMA a global sensation.
Cryptocurrency Final Thoughts
Yes, the Ripple coin is currently on the rise, but for stability and more profit, in the long run, investors should look into TAMA, the meme coin on the meteoric rise.
You can now purchase from the OKX crypto exchange platform as well as the Tamadoge official website.
