Bitcoin has just surpassed the magical $100.000 barrier. In the same breath, the price of XRP shot up 7,6% in 24 hours. Yet, we are seeing many XRP traders shifting their savings to smaller alternative coins, also known as 'altcoins'. These crypto experts seem to have a nose for the next big thing. Where are the eyes now and what are the drivers behind this shift?
Two recent developments are adding further wind to XRP’s sails. Hopes that the US will ease its import tariffs on Chinese goods from 145% to around 54% have many traders on the edge of their seats. In addition, a recent settlement proposal from the SEC, in which it reduced Ripple’s fine to $50 million from the $2 billion demanded, has provided some legal breathing room. Experts and investors are now hoping for a new price rally. For example, FXStreet analyst John Isige sees the break through the resistance at $2,21 as a sign of greater accumulation by large investors, raising the possibility of further price increases.
Ripple recently made news with its acquisition of Circle’s USDC, much to the delight of Stephen Choi who broke the news via X. The move positions Ripple as a central figure in the stablecoin space, which in turn raises questions about the future of XRP itself. Coinbase has already announced that it will replace USDC with RLUSD as part of this deal.
A project that has been getting a lot of attention lately is Solaxy. This platform runs as a 2nd layer solution on Solana, aimed at improving speed and capacity by processing transactions off-blockchain. During the ongoing presale of their token, $SOLX, which represents a niche market for staking and decentralized apps (dApps), the developers continue to focus on transparency and accessibility. Staking is now even possible during the presale, an unusual but very attractive option for early investors.
A look at the weekly technical charts shows a decent picture. The RSI and MACD indicators suggest that XRP is in a relatively strong position. Given the historical patterns, an impending rally cannot be ruled out, especially if XRP repeats its 2017 feat.
While XRP continues to perform strongly, many holders are still looking towards altcoins like Solaxy, given their low entry price and high potential. The new technological possibilities and efficient approaches that Solaxy introduces make it an exciting contender for the title of ‘crypto with the greatest future potential’.
What Caused XRP Price Surge?
The expected easing of US tariffs on Chinese goods and a more favorable settlement offer from the SEC following a year-long legal wrangling.
Are there any direct implications of Ripple's acquisition of Circle USDC for users?
Ripple's strategic move could lead to a repositioning within the stablecoin market, which could result in changes to stablecoin offerings and services to users.
Why is Solaxy an attractive option for crypto investors?
With its low entry price, focus on scalability and transparency, and especially the possibility of staking during the presale, Solaxy offers potential growth within an innovative usage environment.