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Simon Chandler
Author
Simon Chandler
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The XRP price has risen by a modest 0.5% today, with its move to $0.523 helping a little to offset that losses following this week’s news of the SEC’s appeal against Ripple.
XRP remains down by 11.5% in a week and by 6% in a month, with the altcoin also down by 2% in a year.
Given that most major tokens are substantially up in the last 12 months, such performance is likely to disappoint many holders.
However, numerous legal experts have suggested since the SEC’s appeal that things are still likely to turn out positively for Ripple, with some holding out hope for a settlement before the contested issue even goes to appeal.
XRP Price Forecast: Pro-XRP Lawyers See Ripple SEC Case Conclusion in Sight – How Will XRP React?
As we’ve covered before, the SEC has filed a notice of appeal with respect to the July 2023 decision that Ripple’s ‘programmatic’ sales of XRP did not amount to investment contracts.
This sent the XRP price down by more than 10% in a day, yet attorneys have been suggesting that things aren’t as bad as they may seem.
Jeremy Hogan has argued that the SEC “is very very likely to lose” an appeal, and that even if it wins this would result only in an extra financial penalty for Ripple.
Meanwhile, Fred Rispoli has also raised the possibility of a settlement between Ripple and the SEC, circumventing the need to bring the despite to appeal.
This scenario assumes a big victory for the Republicans in next month’s election, but given that other attorneys don’t provide the SEC with much of a chance, we could potentially see an early settlement.
This may be Ripple’s ideal outcome, given that it probably doesn’t want more legal uncertainty hanging over it for another one or two years.
Indeed, such uncertainty has hurt the XRP price, which is beginning to show some improvement after a very tough start to the week.
The coin’s RSI (purple) is creeping up after plunging to 30 a day ago, a sign that buyers are looking to buy the coin at a discount.
We also see XRP’s 30-period moving average (orange) reaching a bottom in relation to the 200-period average (blue), which also indicates that the coin is about to see a period of recovery.
It certainly seems that whales are taking the opportunity to buy the dip, judging by recent transfer data.
We could therefore see the XRP price return to $0.6 by the end of the month, before touching $0.80 by December.
New Presale Tokens Can Pick Up the Slack
Because XRP has potentially entered a difficult period (again), many traders may prefer to diversify and invest in smaller alts with more upside potential.
This includes presale tokens, which if they generate enough momentum during their sales can often go on to rally strongly.
One such coin with plenty of momentum right now is layer-two project Pepe Unchained (PEPU), which has now raised over $17.3 million in its popular sale.
Pepe Unchained is merely weeks away from launching its L2 network for Ethereum, with its platform providing super-fast transactions and low fees.
It has its sights set on becoming an ecosystem for meme tokens, meaning that it will be competing with existing L2s and also platforms such as Solana.
It offers instant bridging between Ethereum and its own Pepe Chain, while its scalability also enables it to offer double the staking rewards (in comparison with what it would have offered as a layer-one token).
As a token, it will have a max supply of 8 billion PEPU, with its protocol allocating 30% to staking and 20% to its presale.
The bullishness doesn’t stop there, however, since its official X account now reaches over 28,000 followers.
This is substantial for such a new coin, and points to how big Pepe Unchained could become once it launches.
Read More: Pepe Unchained Price Prediction
Investors can join PEPU’s sale at the coin’s official website, where it’s now selling at $0.00991 per token.
This price will rise in roughly eleven hours, so newcomers should act quickly if they want PEPU at the lowest available price.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
