XRP ($XRP), the cryptocurrency that powers the XRP Ledger that was launched by US fintech company Ripple Labs back in 2011, has been back in the headlines on Wednesday.
District Judge Analisa Torres just rejected a bid by the US Securities and Exchange Commission (SEC) to appeal a recent legal loss it sustained in its lawsuit versus Ripple Labs.
The SEC sued back in 2020 for issuing $1.3 billion worth of in an unregistered securities offering, but Judge Torres ruled back in July that these sales weren’t necessarily securities offerings.
The SEC hasn’t completely lost its lawsuit versus Ripple just yet, with a trail scheduled for April 2024 to resolve other outstanding issues.
But the risk that XRP will be labelled as a security warranting much higher regulatory treatments in the US is fast diminishing, meaning a better adoption outlook.
XRP’s adoption outlook is also improving as Ripple expands its global payments business – , news which was also attributed as supporting the XRP price.
XRP was last trading around flat on Wednesday in the $0.53s, as it for now holds to the north of its 200-Day Moving Average.
However, despite Ripple’s recent legal wins, the technical outlook for the cryptocurrency remains murky.
The XRP price broke its 2023 uptrend in August, reducing the likelihood of a near-term recovery back to yearly highs in the $0.90 area.
XRP has been touted as a potential major outperformer during the upcoming crypto bull market, assuming this is coupled with a complete legal win for Ripple versus the SEC.
But it may struggle to reach $1 this year.
Here are a few alternative coins that potential XRP might want to check out.
Bitcoin Minetrix ($BTCMTX)
An exciting new decentralized Bitcoin mining protocol called Bitcoin Minetrix is generating a lot of hype, and has already raised close to $500,000 in funds from early investors into its $BTCMTX token presale.
$BTCMTX is the token that powers the protocol – investor who buy $BTCMTX can then stake their tokens to start earning non-transferable Bitcoin Minetrix mining credits.
These credits can then be burnt by their owners, and in exchange, they will get a share in Bitcoin Minetrix’s Bitcoin mining revenues.
$BTCMTX token holders will also earn $BTCMTX rewards, with a portion of the token supply already set aside to reward early stakers.
Bitcoin Minetrix’s protocol is governor by smart contracts built on top of the decentralized Ethereum blockchain, which is also where its token is issued.
The protocol thus offers better transparency and security versus other centralized cloud mining services.
Meme Kombat ($MK)
Another exciting new presale that has been generating a lot of hype recently has been for a crypto start-up called Meme Kombat.
Meme Kombat blend together the world of crypto gaming and gambling with its exciting platform were users are able to bet on the outcomes of exciting battles between characters based on some of the crypto world’s most popular meme coins.
Early $MK investors can also benefit from generous staking rewards, which are currently more than 100% annually.
The project has already raised close to $300,000, despite launching just days ago.
TG.Casino ($TGC)
An exciting Telegram-based crypto gambling upstart called TG.Casino is taking web3 by storm.
2023 has been a big year for crypto gambling, with protocols like Rollbit seeing explosive user growth, and the platform’s native token also seeing big upside.
But the barriers remain high for non-crypto native users to bet using these platforms, given they need to navigate complicated concepts such as setting up, connecting and working with crypto wallets.
TG.Casino intends to do for crypto gambling what Unibot did for advanced crypto trading – simply things with Telegram automation, whilst putting crypto gambling at the fingertips of Telegram’s 700 million (and rapidly growing) userbase.
TG.Casino is conducting an exciting presale to fund platform growth and has already raised over $400,000 via the sale of its native $TGC token.
Early investors are already making yields in the region of 1,000% (thanks to rewards specifically set aside for $TGC token stakers – all tokens bought in presale are automatically staked).
While this yield will fade over time as more money pours into the presale, $TGC holders will also benefit from TG.Casino’s planned token buyback scheme, which will provide passive income to $TGC token stakers and raise the token’s price through token burns.