Rippleโs USDC Surpasses XRPย Rippleย (XRP) in Market Cap
USD Coin (USDC), a stablecoin pegged to the Unitedย States dollar, has surpassed Rippleโs XRPย Rippleย (XRP) in terms of market capitalization. Asย ofย now, USDC holds the fifth position with a market cap of around $26.15 billion, while XRPย Rippleย (XRP) stands at Sixth with approximately $25.95 billion.
This shift in dominance tookย place after XRPย Rippleย (XRP) experienced a price decline due to concerns about probable digital asset sales from FTX, a failed and bankrupt cryptocurrency exchange. Despiteย theย factย that other sectors of the market have recovered, XRPย Rippleย (XRP) continuesย to struggle in the mid-$0.48s.
XRPโs downtrend began after a spike in value following Rippleโs partial victory over the SEC regarding their alleged unregistered securities sales. On the other hand, USDCโs market cap has likewise been decreasing since reaching a record high of $56 Billion in June 2022.
The decline in USDCโs market cap was accelerated by fears of under-collateralization during a mini banking crisis in March. Regardlessย of these fluctuations, the competition between USDC and XRPย Rippleย (XRP) continues.
Price Prediction โ What Happens Next for XRPย Rippleย (XRP) (XRP)?
XRPย Rippleย (XRP) has managed to recover slightly from its recent lows but remains within a downtrend since July. To confirm a break in this trend, XRPย Rippleย (XRP) would need to surpass its 21-day and 200-day moving averages, which have acted as strong resistance levels since August.
If this occurs, there mayย be short-term relief for XRPย Rippleย (XRP) and aย chance for it to move towards resistance in the mid-$0.50s. Nonetheless, the future performance of XRPย Rippleย (XRP) will heavily depend on news related to the ongoing Ripple/SEC lawsuit.
A district judge previously ruled that XRPย Rippleย (XRP) may not necessarily be classified as a security, but the SEC has filed an appeal challenging this decision. Rippleโs President, Monico Long, has expressed determination continuation fighting the SEC.
Regardlessย of the legal battle, numerous believe that momentum is in Rippleโs favor, suggesting a positive outlook for XRPย Rippleย (XRP) as the SECโs efforts to classify it as a security weaken.
Wall Street Memes Launches $WSM Memeย Coin Coin Token
Wall Street Memes, an influential retail investing community with over 1 Million followers across numerous social media platforms, is expanding its reach into the digitalย currency market with the launch of its Memeย Coin coin token wasย known $WSM.
The presale of $WSM has been highly successful, raising over $25 Million and receiving support from numerous cryptocurrency industry influencers and analysts. With less than 14 days remaining in the presale, investors are urged to get involved before it concludes.
$WSM intendsย to rival trending Memeย Coin coins such as Pepe Coin, Dogecoinย (DOGE), and Shibaย Inuย (SHIB). Donโt miss out on theย chance to invest in this token.
Hot Take: Wall Street Memes Enters Cryptocurrency Market with $WSM Memeย Coin Coin
Wall Street Memes, known for its influence in retail investing, is making a splash in the digitalย currency world by introducing its own Memeย Coin coin token wasย known $WSM. The presale of $WSM has been incredibly successful, raising over $25 Million and attracting support from industry influencers and analysts.
This move signifies Wall Street Memesโ desire to become โthe king of cryptoโ alongside its title as โthe king of stonks.โ With less than 14 days left in the presale, investors have limited time toย engage and potentially takeย advantageย of the success of $WSM.
If youโre looking to invest in a token that could rival the popularity of Pepe Coin, Dogecoinย (DOGE), and Shibaย Inuย (SHIB), now is the time to buy $WSM.
Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension.
