Major cryptocurrencies are offering mixed returns as the crypto market remains prone to extreme bearishness amid poor macroeconomic conditions. While Bitcoin has surged over 3% in the past week, XRP has corrected by over 9% in the same period.
With Ripple’s lawsuit against the SEC expected to get more clarity in the coming months, XRP investors believe that the token can show strong price movement with a positive result.
However, amid uncertainty with the outcome of the court case and wider concerns across the market, investors are also eyeing other tokens that could be subject to less volatility. One such token is yPredict, which is showing bullish momentum with over $2.5m raised in its presale.
XRP Price Plummets Despite Crypto Recovery, When Will It Bounce Back?
Much to the anguish of Ripple supporters, the XRP token remains bearish in the weekly time frame despite the Hinman documents being unsealed last week.
The token has slipped almost 9% over the past week and is currently trading at $0.48, having been as high as $0.56 on June 13.
After the SEC’s lawsuit against Binance and Coinbase for illegal operation and sale of unregistered securities, XRP has become one of the most important tokens in the crypto market. Ripple was one of the first companies to be sued by the SEC as the top regulatory body labeled XRP as an unregistered security.
Ripple CEO Brad Garlinghouse has recently come out strongly against the SEC. In a video posted to his Twitter account, Garlinghouse accused the financial watchdog of acting in bad faith – he clarified that even after multiple meetings, the SEC never told him that XRP was a security.
Even Charles Hoskinson, the founder of Cardano blockchain, expressed his wish to mend things with the Ripple community. Previously, Hoskinson has found himself at odds with the community and labeled it as toxic and petty. However, in light of the regulatory pressure on Cardano, Hoskinson is now singing a different tune.
XRP lawyer John Deaton has recently stated that the chances of an outright Ripple victory are much higher than an outright SEC victory, and a potential XRP victory is significant for the market in that it may itself start a bull run.
The William Hinman documents were unsealed last week and immediately saw XRP pump to $0.56. The documents are a significant part of the Ripple defense as the former SEC chief and senior leadership in the regulator described them as not being securities in various documents leading up to a 2018 speech.
Although the price has since dropped below $0.50, Craig Cobb of Tradercobb.com believes that XRP can hit the $1 mark in case of a potential win – however, a loss could see the token correct all the way to $0.24.
The token’s technical analysis shows that its price is currently on a knife’s edge.TradingView gives a neutral signal to XRP in the weekly time frame, which improves to a Buy signal when considering the moving averages.
Investors would hope that the token breaches the Exponential Moving Average (200) at $0.49 to see a bullish surge.
Which Tokens Can Outperform The Bear Market?
While XRP’s price remains in the doldrums, investors are looking for alternate projects that can outperform the prevalent bearishness.
Experts believe that tokens with high utility and real-world value will be the top performers, while projects with strong community backing can also see explosive price movement.
One such example is yPredict, which is currently on presale. Let’s take a look at how yPredict meets these criteria and why it is well-suited as an alternative to XRP.
Revolutionary AI Analytics Platform yPredict Raises $2.5 Million Through Presale
The yPredict token has been one of the most consistent performers in the crypto bear market since its presale launched.
As market volatility continues to wildly fluctuate, retail traders are backing the yPredict platform due to its wide range of trading tools and AI-based predictive trading.
The YPRED token has now raised almost $2.5 million and is well on its way to hitting the targeted $2.9 million that will trigger a price increase.
The all-in-one platform provides tools for traders with all levels of experience – all YPRED holders are eligible for free-of-cost access to the Predictions platform. It consists of accurate price prediction models for thousands of crypto assets and securities.
Similarly, yPredict Analytics provides high-quality market insights to traders through pattern recognition alerts, transaction data analysis, and sentiment analysis.
There are three membership tiers available (free, active, pro), with YPRED used to pay for those and each tier offering access to different levels of features and tools – pro-tier traders can utilize the sophisticated Terminal trading engine to execute their trades at a blazing-fast speed.
Due to its incredibly powerful products, the yPredict ecosystem already has over 20,000 users on its waiting list.
Furthermore, the YPRED token has one of the most lucrative tokenomics of any project currently in its presale. Aside from the heavy discounts on various yPredict services, holders can earn up to a 45% quarterly staking reward.
The token is currently in the sixth of the 8-stage of its presale and is currently priced at $0.09. However, it will soon surge 33.3% to its $0.12 listing price, offering a limited opportunity for investors to take advantage of the early presale price.
YPRED tokens can be purchased with a bank card or by swapping ETH, USDT, or MATIC tokens.
Visit yPredict Presale
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