Altcoin
XRP Price Prediction: Ripple Expects More Hurdles from the SEC, Traders Hedge with this $0.03 Altcoin for 3,000% Profits
The SEC filed a notice of appeal on October 2, challenging Judge Analisa Torres’s ruling that XRP is not a security. This appeal saw the XRP price tumble sharply, forcing Ripple traders to migrate to alternative investments.
Amazingly, RCO Finance (RCOF), an upcoming Ethereum altcoin, has become the center of attraction after securing over $2.79 million in funding during its ongoing presale.
Will the XRP price continue slumping, and will RCO Finance (RCOF) persist with its bullish trend? Let’s find out!
XRP Plunges 13% As Ripple’s Battle With SEC Takes New Turn
The XRP price has performed dismally over the past week. On September 30, the XRP price was trading around $0.6223. Following a brief spike, the altcoin dived sharply on October 1 after reflecting the bearish trend in the Bitcoin (BTC) price, which saw the leading crypto revisit the $60,000 level.
This downturn intensified after the SEC filed a notice of appeal on October 2 in its ongoing legal battle with Ripple. Specifically, the SEC challenged Judge Analisa Torres’ August 2023 ruling that XRP is not a security when sold to retail investors on exchanges. This news saw the XRP price trade as low as $0.5101 on October 3.
By October 7, the XRP price had stabilized at around $0.5390. This price means the XRP price has shed 13% in a week. Moreover, the 24-hour Ripple trading volume has surged 76%, indicating investors are flocking to the market to dump XRP. Combined with the challenges from the SEC, this selling force might trigger more losses.
RCOF: A Superb Presale Opportunity
As the SEC presents Ripple Labs with new challenges, XRP investors seek alternative investments to hedge against losses. Amazingly, RCOF has grabbed investor attention because of its utility as a base currency and governance token within the RCO Finance platform.
Also, RCOF has emerged as a top pick among Ripple investors because it is a safe investment. SolidProof, a top-tier blockchain security firm, verified that RCOF is safe to invest in by auditing the altcoin’s smart contract.
This step helped boost investor confidence in this altcoin, explaining why it has secured $2.79 million in funding.
As of October 7, RCOF was offering investors an opportunity to join its presale at $0.0344 during Stage 2. Investors who purchase RCOF at $0.0344 will enjoy tremendous returns when the altcoin attains its launch price of $0.4-$0.6.
Also, experts expect RCOF to surge 3,000% by Q4 2024, outshining XRP’s 1,580% climb in Q4 2017.
This forecast explains why Ripple investors are embracing this budding altcoin as the XRP price continues tumbling.
RCO Finance Intrigues Investors With RWA Tokenization Abilities
Ripple investors are actively looking for to-of-the-line platforms to diversify their portfolios as the XRP price continues showcasing a weak outlook.
This explains why RCO Finance, an up-and-coming DeFi platform that aims to simplify investing by democratizing access to professional investment management tools, has quickly gained popularity.
RCO Finance has also caught investors’ attention with its AI-powered robo advisor. Investors are fascinated by the robo advisor because it uses machine learning and algorithms to offer custom investment recommendations based on personal risk profiles and financial goals.
Investors can implement these recommendations into their investment plans to scale their profits while minimizing risk exposure. Amazingly, the robo advisor can trade automatically on behalf of investors. This automation enables the robo advisor to adjust investors’ portfolios in real-time, shielding against altcoin market crashes.
Taking things a step further, the robo advisor provides investors with free tax and financial legal advice, helping them stay compliant as the robo advisor diversifies their portfolios with the over 120,000 crypto and TradFi assets RCO Finance supports.
Besides its robo advisor, RCO Finance has attracted investors because of its revolutionary real-world (RWA) tokenization capabilities. RWA tokenization allows RCO Finance users to bolster their portfolios with illiquid assets like real estate, commodities, and art.
RCO Finance has also gained ground quickly because its non-KYC onboarding process significantly lowers the entry barriers. This approach also allows investors who prefer withholding personal details to maintain anonymity.
These benefits explain why you should join Ripple investors in embracing RCO Finance to improve your chances of making lucrative trades.
For more information about the RCO Finance Presale:
Join The RCO Finance Community
BNSOL, a token representing staked SOL and staking rewards in a tradable and transferable form on Binance, recently marked a landmark achievement. The token secured listing on the abovementioned crypto exchange, primarily with enhanced user offerings. This listing has ignited an optimistic torrent for the staked Solana token’s future, as one of the top exchanges extends backing for it.
BNSOL Secures Binance Listing With Boosted APR Promotion
As per an official announcement by Binance dated October 9, the staked Solana and rewards token will be listed and available for trading on the exchange starting October 10 at 08:00 UTC. The trading pair to be listed remains BNSOL/SOL. Further, the exchange revealed vital details on the token’s promotion period and APR (annual percentage rate) in its announcement.
The promotion period for the token set by the exchange is 8-10 days from October 16 (UTC). Further, all new and existing token holders stand poised to get up to 10% in APR during the promotion period. However, the APR is likely to fluctuate between 8-10% based on the total value locked each epoch, i.e., 2-3 days. Subsequently, the APR will stabilize and revert to normal after the promotion period concludes. One can refer to the exchange’s staking page for further details on the matter.
This announcement by the top crypto exchange has gained substantial traction across the broader industry, bringing noteworthy attention to staked SOL product. Market participants can get the Binance staked Solana token by staking SOL on the exchange’s Web3 wallet and also by navigating to ‘staking SOL’ on the platform’s earn page.
More About The Staked SOL Token
As mentioned above, Binance staked SOL is a token reflecting staked SOL and the staking rewards altogether in a tradable and transferable form. Contrary to ordinary staking that locks assets, the new staked token is aimed at offering users flexibility. Users can sell, transfer, or even move the staked SOL to their personal wallets and use it anywhere apart from the platform.
CoinMarketCap data illustrated that BNSOL price today traded at $143, down nearly 1% over the past day. Simultaneously, even SOL price traded at $143, noting a 1% dip, intraday. Nevertheless, renowned crypto influencer BitBoy took to X today, stating, “Big moves are coming in the SOL ecosystem.” This announcement further aligns with the abovementioned development, sparking optimism for the broader Solana ecosystem globally.
Meanwhile, in another saga, the crypto exchange also listed Scroll (SCR) recently, underscoring efforts to offer enhanced offerings with crypto project backings.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a recent announcement, the leading crypto exchange Binance has announced to remove certain key pairs from its platform. According to the release, the exchange will release four pairs related to BTC, ETH, BNB, and DAI. This move has sparked speculations over the potential reason behind such decision, while also fueling discussions over its impact on the prices.
Binance Delists Key Trading Pairs Sparking Speculations
Binance has recently announced its plans to delist four trading pairs from its platform. The announcement showed that APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI, would be removed from the exchange. This announcement by the crypto exchange has sparked speculations.
Meanwhile, the company noted that this move was part of their regular reviews of spot trading pairs, which consider several factors like liquidity, trading volume, and others. Notably, the delisting is scheduled for October 11, 2024, at 3:00 UTC.
The exchange indicated that this action is in line with its effort to maintain a high-quality trading environment for the users. In addition, it also clarified that the delisting of these pairs will not affect the availability of the individual tokens. In other words, the users can continue to trade the base and quote assets through other trading pairs still available on the platform.
Notably, the exchange also advised users of its Spot Trading Bots to cancel or update their bots for these pairs to avoid potential losses once trading ceases.
Will These Delistings Impact BNB And Other Prices?
The news of Binance’s delisting tends to trigger mixed reactions in the market. Typically, such announcements from the top crypto exchanges can impact investor sentiment. For instance, positive developments usually lead to market optimism, while decisions like delisting can fuel uncertainty.
Having said that, traders might interpret this delisting as a sign of reduced interest or declining liquidity in the affected pairs. It could potentially drive down the prices of these tokens in the short term, sparking speculations over a potential price crash.
However, the delisting of spot trading pairs does not necessarily guarantee a price slump. Although chances remain, the investors can sometimes avoid such announcements, as the exchange has still other pairs of these crypto available on its platform.
As of writing, APE price was up about 0.55% and exchanged hands at $0.74, while its trading volume dropped by 5% to $50.44 million. On the other hand, ATOM price was down about 0.5% to $4.35, and its trading volume dipped 30% to $78.81 million.
Simultaneously, BAL price traded near the flatline and traded at $1.94, after touching a 24-hour high of $1.96. Finally, BNB price rose nearly 2% to $582.37, while its trading volume soared nearly 30% to $2.29 billion.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Sam Altman’s AI-meets-crypto project Worldcoin has taken significant heat lately, waining against the backdrop of Alameda Research’s massive dumps. On-chain data on Wednesday indicated that the market maker has continued selling the AI token, raising severe investor concerns as WLD price cracked nearly 5% intraday. Meanwhile, crypto market enthusiasts speculate over what lies ahead for the token in light of current market statistics and bearish sentiments prevailing with recent dumps.
Worldcoin Takes Heat As Alameda Research Sells Substantially
In an unprecedented mover, Worldcoin has encountered significant selling pressure as market maker Alameda Research continuously offloaded significant amounts of the AI token to Binance, a leading crypto exchange. According to on-chain tracker Spotonchain’s data, the market maker has been dumping 143,770 WLD to Binance weekly over the past two months.
Notably, the entity sold 1.56 million coins, worth $2.51 million, to Binance since August 9 in ten batches. The average price of these deposits was recorded as $1.605. At present, the market maker still holds 23.44 million coins worth $43 million, indicating that it could take three years to offload the complete amount at the current rate. Given the AI token’s current market stance, continuous selloffs could propel further downside momentum in the token’s price trajectory.
Meanwhile, it’s also worth noting that another one of Alameda’s top holdings is MNT, formerly known as BIT, which could see selloffs ahead as the firm’s 3-year no-sale commitment with BitDAO ends in November.
Token Price Dips 5%
Simultaneously, Worldcoin price tanked nearly 5% over the past day and is now sitting at $1.86. The coin’s intraday low and high were recorded as $1.83 and $1.98, respectively. Notably, the AI token reflects a bearish stance in light of continued selling by the market maker, raising investor concerns.
Further, Coinglass data indicated a 10% drop in the token’s futures OI to $170.83 million. Moreover, even the derivatives volume plummeted 31% over the past day to $754.13 million, underlining reduced investor interest in the asset. Coupled with Alameda’s massive selloffs, market stats hint that WLD currently rides a bearish wave across the broader market. Crypto enthusiasts expect further dips in price should more selloffs occur ahead.
However, a recent WLD price analysis by CoinGape reveals that the crypto could conversely rally 400% ahead. This bullish projection comes on the heels of analysts anticipating Microsoft’s potential acquisition of OpenAI ahead. OpenAI is another leading AI firm led by Sam Altman.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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