Ripple (XRP) Price Slides 22% After Failing to Break $0.85, But $XRP20 and $WSM Still Rising
The price of Ripple ($XRP) is now down by a steep 22% after failing to break $0.85 a fortnight ago.
The cryptocurrency had surged higher after its mini-victory against the SEC but failed to capitalize on the bullish swing.
Meanwhile, a handful of XRP alternative projects continue to rise as investors look to get positioned at the lowest prices possible, believing they can provide significantly higher profits in the short term.
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Ripple Price Slides 22% Since Failing to Break $0.85 – Where’s It Heading?
Ripple ($XRP) has dropped by a steep 22% since hitting the resistance at $0.85 in mid-July.
The coin is down by a further 6.6% this week, causing it to break beneath the support at $0.672 – provided by a .382 Fib Retracement – which had stabilized the market over the past couple of weeks;
XRP surged higher in mid-July after a small victory in its lawsuit against the United States Securities and Exchange Commission (SEC), which had sued Ripple for operating an unlicensed securities offering in its ICO.
However, US Judge Analisa Torres ruled that $XRP should not be considered a security by the SEC, causing traders to rush back into the remittance-based payment network.
The coin surged as high as $0.85 but couldn’t overcome the resistance there provided by a long-term bearish .886 Fib Retracement.
Where is XRP Price Heading Next?
The recent break beneath the .382 Fib Retracement support suggests that further downswings might be coming for $XRP.
If this is the case, the first support is expected at $0.634 – provided by a .5 Fib Retracement level.
This is followed by support at $0.59 (.618 Fib Retracement) and $0.545 – the previous strong resistance for 2023 (now flipped to support).
Beneath this, added support lies at $0.5.
On the other side, the first resistance lies at $0.7. This is followed by $0.8, $0.85, and $0.9.
Beyond $0.9, resistance lies at $0.95, $1.01 (December 2021 highs), and $1.06 (1.272 Fib Extension).
Meanwhile, XRP Alternatives Are Still Rising as XRP Falls
Meanwhile, as the price of $XRP starts to see a solid retracement from its previous swing higher, a handful of XRP alternatives are still rising during the recent downturn.
Investors are rushing to these projects because they provide opportunities for short-term investments in low market cap projects that can produce outsized returns relative to the heavyweight tokens.
In particular, XRP20 ($XRP20), Wall Street Memes ($WSM), and Shibie Token ($SHIBIE) are all turning heads as their presales continue to gain more traction.
XRP20 Bringing a New Era to Ripple ($XRP)
XRP20 is the first alternative to $XRP that investors are diversifying into.
The hype is quickly growing behind this project as its presale raised almost $400,000 in its first few days of operating.
The project is described as the second coming of XRP, providing an evolved version of the token by bringing it onto the Ethereum network as an ERC-20 token.
XRP20’s upgraded infrastructure integrates a groundbreaking stake-to-earn system with a deflationary burning mechanism to provide serious long-term value to investors.
If you ever wondered how your life might have turned out if you bought XRP at the all-time low, then XRP20 is your opportunity to find out.
The project intends to reignite the passion of the XRP army and provide them a second chance to relive the extraordinary $XRP bull run.
XRP20 is paying homage to $XRP in its tokenomics structure, with a total of 100 billion $XRP20 supply.
40% of the tokens are sold in the presale for $0.000092 – aiming for a $3.68 million hard cap.
The remaining supply is 40% reserved for staking rewards, 10% for DEX liquidity, and 10% for burning.
The stake-to-earn mechanism provides a unique opportunity for retail buyers to stake their tokens and earn a passive income – something the original $XRP token cannot offer holders.
The deflationary mechanism helps $XRP20 become scarce over time, with 0.1% of every buy and sell transaction being sent to a burn address – alongside the 10% already set aside to be burnt.
Overall, $XRP20 provides a unique community-driven alternative to $XRP that has the potential to provide significantly higher returns through staking and burning.
However, with such a small $3.68 million hard cap available, investors must be quick to get positioned in this increasingly hyped XRP alternative.
Wall Street Memes Hits Final Stages of Presale After Raising $20 Million.
Wall Street Memes ($WSM) is another low market cap alternative to $XRP that’s quickly becoming the most sought-after meme coin in the industry.
The project has already raised over $20 million in its presale, demonstrating the extraordinary levels of FOMO in the project.
The FOMO is becoming so severe that one whale recently bought 460 ETH worth of $WSM in one purchase – worth around $850,000 at the time;
From his purchase size, it’s evident that this whale is expecting huge returns from his enormous risk – believing that $WSM is the next meme coin sensation on the market.
The entire idea behind the project is to make a mockery out of our traditional financial system through a series of memes on its social media profile.
The memes have become so popular that they generate an impressive 40 million monthly impressions on Twitter, making it the go-to source for trading and finance-related memes on the social media platform.
The popularity of the memes attracted the attention of Elon Musk, who’s been commenting on their truthful nature on multiple occasions;
Furthermore, the memes have also helped Wall Street Memes attract a cult-like community of over 1.1 million followers across its social media channels.
Experts believe this huge following guarantees $WSM a major tier-1 listing on exchanges as soon as it launches, as exchanges like Binance or OKX seek to capitalize on the trading volumes generated.
These reasons are why some YouTube analysts are stating that $WSM will be at the forefront of the next bull run;
Overall, Wall Street Memes has created the perfect mixture of hype and FOMO through its internet culture, meme-based humor, and decentralized finance.
Those looking to invest in this project must act quickly, as most of the presale allocation has already been snapped up as the fundraising enters its final stages.
Judging by the FOMO experienced by whales, the remainder of the supply won’t last very long.
Shibie Coin Brings a New Combination of Charm and Elegance to Crypto Meme Coins
The final $XRP alternative worth considering is $SHIBIE, a project that combines the captivating charm of Shiba Inu with the timeless elegance of Barbie in one ecosystem.
Shibie Coin is on a mission to attract an audience from these two massive fan bases to achieve viral success.
The movie’s success turns Shibie Coin into the perfect timely investment for short-term gains.
The community-centric approach is expected to challenge the norms and offer strategic investment opportunities in a low-cap project capable of producing short-term 10x returns.
Shibie is the bombshell bitch of the crypto world. She’s a dog on a mission to create a fun-filled entertainment ecosystem and provide buyers with a tactical investment that will grow over time.
$SHIBIE comes with a 10 billion total supply, with 60% of the supply sold in the presale at a single price of $0.0001666665.
The remainder of the supply is split into CEX/DEX liquidity, team allocation, and marketing funds.
This tokenomics structure covers all bases to help foster engagement and secure long-term potential for the ecosystem.
In addition, Shibie Coin will be releasing an AI-powered Telegram Bot that adds another playful element to the project, with the ability to provide deep insight to community members.
Overall, the combination of a playful meme coin in a complex and serious industry provides a unique opportunity for a light-hearted crypto investment.
However, this presale is expected to last only a short time with a very low hard cap of just $999,999.
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