XRP has performed well in the unpredictable crypto market. Investors wonder if XRP will reach $1 soon after a 1.47% pump. This milestone hinges on XRP’s legal dispute with the US Securities and Exchange Commission (SEC). Despite the risks, the crypto market is seeing potential coins like Wall Street Memes develop quickly.
Cryptomarket status
Macro events have caused the crypto market to fall. Bitcoin, the dominant cryptocurrency, has suffered from the surging US dollar. When the dollar strengthens, BTC prices fall, lowering market valuation. The market fell below $1.10 trillion in April and May 2023. The crypto market rebounded to $1.12 trillion. XRP has risen 1.47%, outperforming Bitcoin’s 0.88% rally. Its monthly high is $0.47, and its seven-day performance is 1.09%. Longer term, XRP has gained 2.32% in the previous 30 days, 25.03% in the last 90 days, and 39.42% year-to-date. XRP has thrived despite legal issues with US authorities.
XRP technical analysis
Technical indicators can reveal XRP’s development potential. Investors can trust its short-term base because its 50-day simple moving average (SMA) matches its present price. At $0.4149, XRP’s 200-day SMA is bullish. XRP’s relative strength index (RSI) is 56.56 and rising, signaling it is exiting oversold territory. The MACD’s blue trendline also indicates a positive signal.
Diversifying XRP’s uses
XRP’s creators have been diversifying the token’s and network’s use cases for two and a half years. Launching a central bank digital currency (CBDC) and using the NFT protocol achieved this. Ripple has acquired a big share in Bitstamp, Europe’s second-largest crypto exchange, to boost its presence in the European crypto market. Monica Long, Ripple’s president, underlines its long-term aim of extending beyond payments.
Cross-border XRP transfers
Governments are using XRPLedger to settle cross-border transactions. After being cut off from SWIFT owing to its aggressiveness in Ukraine, the Russian Federation has chosen XRP as the best way to transfer and receive cash. Despite US interests, the XRP network is open source and allows anyone to use it for payments.
WSM basics
A new crypto project is making waves alongside XRP. After the 2021 GameStop disaster, where retail investors outperformed institutional purchases, the Wall Street Memes ($WSM) project gained traction. Wall Street Memes symbolized the internet’s victory over financial greed.
Wall Street Memes’ success
Wall Street Memes raised $500k in its presale in 72 hours, showing strong interest in the decentralized initiative. This success shows how the financial landscape has changed, especially since the COVID-19 epidemic reset the world. Investors who profited from the GameStop event created meme stocks and movements. Wall Street Memes symbolizes a new crypto market era.
Introducing $WSM – yep, we’ve gone and done it.
The community token that's flipping the Wall Street Memes game upside down! 🐂We have 50% of the #Token supply up for grabs in the #Presale and 30% set aside for rewarding our community.🔥
Let's make some serious waves together,… pic.twitter.com/fH2TMGmglZ
— Wall Street Memes (@wallstmemes) May 27, 2023
