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Ranked as the seventh largest crypto in terms of market cap and named "Bitcoin's biggest competitor" when it was released, Ripple (XRP) has gained quite a reputation over the last few years.
And, with an idea to revolutionize the entire banking system, it didn't take long for Ripple to get the recognition it deserved.
However, things drastically changed when the SEC filed a lawsuit against it in 2020, causing a huge price decline.
Ripple's all-time high came in 2018 ($3.37), but nowadays, the crypto trades at $0.37 per token.
But, with the lawsuit coming to an end soon, every crypto trader in the market is wondering the same thing – will the XRP price reach $1?
Some experts believe so, but others are more inclined to take their money elsewhere – Tamadoge.
With the potential to become the next top meme coin on the market, Tamadoge could easily overtake XRP when it comes to huge profits and ROI.
But let's check out the details before making any assumptions.
Ripple (XRP) is a cryptocurrency launched in 2012 with the goal to revolutionize cross-border payments, lower transaction costs, and even replace SWIFT as the primary payment network.
In short, Ripple functions as a payment system and currency exchange platform that can be used for global transactions.
When two parties are involved in a transaction, XRP is presented as a trusted intermediary and lets the network know that everything went accordingly.
Notably, XRP can even facilitate fiat currency and crypto exchanges.
Each time a transaction takes place on the network, Ripple charges a small fee in the form of XRP, which is minimal compared to the fees that banks charge.
Naturally, this caught the eye of every major financial institution in the world and hundreds of them began using XRP to get a taste of the benefits.
The first glimpses of glory came in 2017 when Ripple became the third leading crypto by market cap (right behind Bitcoin and Ethereum). In 2022, the market cap reached an incredible $180 billion.
At the time of writing, the price of XRP stands at $0.37 per token, which is 10x less compared to its ATH of $3.37 in 2018.
The trading volume in the last 24 hours is around $1 billion XRP and the price dropped around 1.30% on the last day.
It's currently ranked number seven in terms of market cap ($18.4 billion) with 49.1 billion XRP tokens in circulation and a maximum supply of 100 billion.
The SEC (Securities and Exchange Commission) filed a lawsuit against Ripple Labs in December 2020 and holds Christian Larsen (Ripple Co-Founder) and Bradley Garlinghouse (Ripple CEO) accountable for making huge profits illegally.
The officials believe that Ripple raised $1.3 billion through "unregistered securities" and that the people involved profited $600 million from illegal business dealings.
If XRP loses the case, we could be looking at a complete turn of events regarding the status of cryptocurrencies in the US – the government might classify XRP as a security instead of a currency.
This could result in a similar precedent for other cryptocurrencies as well, which is why so many analysts, investors, and traders are following the trial so closely.
Additionally, if SEC wins the case, the price of XRP will undoubtedly continue plummeting, causing major decreases.
On the other hand, if Ripple proves its innocence, we could be looking at new ATHs in the following months (and years). This also makes this cryptocurrency a great choice for speculative trading.
With that said, the latest news seems to be going in Ripple's favor.
The cryptocurrency has recorded a lot of wins in court so far and the latest one happened today (15th August) when Judge Netburn approved the motion for the authentication of SEC official's public remarks.
Due to various macroeconomic and regulatory factors (the lawsuit), the price of XRP tokens over the last few months has been very volatile.
But, considering that Ripple's price is now much higher than it was at the beginning of 2022, there is a light at the end of the tunnel that suggests that the price of$1 is possible in the following period.
Currently, the biggest challenge is overcoming the $0.75 mark and maintaining it.
From a technical aspect, there is quite a bit of uncertainty surrounding the project, which is mainly caused by the SEC lawsuit.
Investors are still waiting for a good reason to jump aboard the XRP train and want a clear sign that a bullish trend will take place.
Since the end of March, there has been a continuous price decrease, which was also affected by the drop in Bitcoin's price.
XRP was close to reaching $1 on March 28th when the price stood at $0.93, but it dropped over 50% since then.
The good news is that Ripple has been able to maintain the $0.3 – $0.4 mark and that the trading volume has greatly increased over the last couple of weeks.
Crypto analysts are saying that the next step for XRP is to break through the $0.4 – $0.6 mark resistance.
But, due to the recent decline within the crypto market as a whole, most crypto experts are skeptical about XRP's price and don't think that the project will reach $1 by the end of 2022.
Ripple isn't the only crypto making strides lately.
In fact, the new meme coin Tamadoge is casting a shadow over both XRP and every other leading altcoin in the market.
Tamadoge is a P2E doge-themed cryptocurrency that's projected to be the next #1 meme coin on the market.
Unlike other meme coins, Tamadoge comes with real-world utility and provides users with an immersive P2E gaming experience.
TAMA is the platform's native token and the primary in-game currency for transactions.
Within the game's Metaverse (Tamaverse), players have one goal – to train their Tama pets for battling.
Each pet is a unique NFT and players mint them as babies. Later, they use them in the battle arena and fight for a chance to win exciting prizes.
The project was KYC-verified by CoinSniper the smart contract audited by Solid Proof, meaning that there is no "rug pull" danger for investors.
Plus, there are no transaction fees for TAMA tokens.
The presale for TAMA tokens has literally exploded over the last few days and investors seem to be much more certain of this token's success rather than of XRP's.
What's more, there will be a $100,000 crypto giveaway on the prize draw day only for investors that own TAMA tokens by then.
So far, the project has already raised almost $4 million and there are a little less than $55 million tokens remaining in the presale.
To purchase tokens, you'll need a debit/credit card, USDT, or ETH.
The current price is 1 USDT = 66.67 TAMA coin. After the above-mentioned $55 million tokens get sold out as well, the price will be 1 USDT = 57.14 TAMA coins.
Investors can purchase a minimum of 1,000 TAMA during the presale (plus a $10 gas fee) and claim the tokens once the sale ends.
The presale will last until September, so you still have a small window to become an early investor and multiply your investment amount once the project goes live.
To stay on top of all the latest news regarding Tamadoge, it's best to join the project's official Telegram group.
To begin, make sure you have a MetaMask wallet installed on your browser, or use one of the wallets supported by Wallet Connect (we recommend Trust Wallet).
Purchasing on a desktop browser will give you a smoother purchasing experience. For this we recommend MetaMask.
If you are purchasing on mobile, we recommend using Trust Wallet and connecting through the in-built browser (just copy https://buy.tamadoge.io into the Trust Wallet Browser).
Once you have your preferred wallet provider ready, click "Connect Wallet" and select the appropriate option. For mobile wallet apps you will need to select "Wallet Connect".
You will then have three options: Buy ETH With Card. This option will allow you to purchase ETH that will be sent to your wallet by our partner, Transak.
You will then be able to use this ETH to purchase TAMA. Click "Buy Eth With Card" to begin and follow the on screen steps. We recommend purchasing a minimum of $15 worth of ETH to cover the minimum TAMA purchase.Buy TAMA With ETH.
Once you have sufficient ETH in your wallet (if you do not have ETH or USDT, please select option 1 to purchase ETH first), you can now swap your ETH for TAMA. Type in the amount of TAMA you wish to purchase (1,000 minimum) and then click "Convert Eth".
Your wallet provider will ask you to confirm the transaction and will also show you the cost of gas.Buy TAMA with USDT. Please ensure you have at least $15 of USDT in your wallet before commencing the transaction.
Type in the amount of TAMA you wish to purchase (1,000 minimum). Click "Convert USDT". You will then be asked to approve the purchase TWICE. The first approval is for the USDT contract and the second is for the transaction amount. Please ensure you go through both approval steps in order to complete the transaction.
Once the presale has concluded, you will be able to claim your TAMA tokens. We will release details closer to the time, however you will need to visit the main site https://tamadoge.io and click on the gold "Claim" button.
Tamadoge Contract
Use the contract information below to add the TAMA token to your wallet.
Address: 0x12b6893cE26Ea6341919FE289212ef77e51688c8
Decimals: 18
Token symbol: TAMA
Even though there have been positive updates regarding Ripple's lawsuit, that doesn't necessarily mean that XRP will reach the $1 mark by the end of 2022.
Instead, crypto analysts and experts are suggesting that those who are interested in faster returns should shift their focus towards Tamadoge – the hottest meme coin presale on the market.
Keep in mind, the presale for TAMA tokens will last until September and the price will probably never be this low again!
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
