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XRP Hits New Low After $330M Liquidated By Holders, Community Finds Comfort in New Meme Defying Bearish Sentiment
The rollercoaster ride for Ripple’s XRP continues as the token hits a new low, following a massive $330 million liquidation by its holders. This major sell-off has sent shockwaves through the community, causing a sharp drop in XRP’s value as it teeters on a critical support level. However, amidst the bearish sentiment and panic selling, a new meme coin, Mpeppe (MPEPE), is emerging as a surprising beacon of hope for investors seeking to offset their losses.
Ripple’s Turmoil and the $330 Million Sell-Off
Ripple’s ongoing legal struggles with the U.S. Securities and Exchange Commission (SEC) have taken a toll on the cryptocurrency’s performance in 2024. Despite recent progress in the case, uncertainty still lingers, causing large holders to liquidate their XRP positions. This has led to a cascading effect on the market, with the token hitting new lows and facing significant resistance at key price points, except this new meme casino coin Mpeppe after rallying 150%. The $330 million liquidation represents a significant portion of XRP’s trading volume, and it’s a clear sign that some investors are losing faith in Ripple’s ability to recover in the short term.
XRP has been flirting with the 50-cent support level, and if it breaks below, analysts fear it could plunge further. As the bears tighten their grip on XRP, many holders are feeling uneasy, unsure if the worst is yet to come.
Mpeppe: A Meme Casino Coin Defying the Bear Market
While XRP struggles to regain its footing, the meme coin market is witnessing an exciting new contender—Mpeppe (MPEPE). Defying the overall bearish sentiment that has gripped much of the crypto space, Mpeppe is proving to be a bright spot for investors. Currently in Stage 4 of its presale, Mpeppe (MPEPE) has already raised nearly $2 million, with 66% of the tokens sold. Its presale success is a testament to the strong community support it has garnered, as well as its appeal as a meme coin that promises high returns.
Unlike XRP, which is weighed down by regulatory challenges, Mpeppe has been able to ride the wave of meme coin hype, similar to Dogecoin and Shiba Inu. Meme coins have historically performed well during market downturns, offering investors an opportunity for short-term gains even in the face of broader market declines. As more XRP holders liquidate their positions, many are redirecting their funds into Mpeppe (MPEPE), which they see as a potential 100x opportunity in the coming months.
Why Mpeppe Is Attracting Gobal Attention
Mpeppe’s rapid presale progress is one of the key reasons it has been able to capture the attention of the crypto community. With each presale stage, the token price increases, providing early investors with the potential for significant returns once it officially launches. The meme coin has managed to tap into the viral nature of internet culture, leveraging its meme status to create a dedicated and engaged community.
Another reason Mpeppe is attracting attention is its accessibility. Unlike more complex blockchain projects like XRP, which require a deep understanding of technology and regulatory landscapes, Mpeppe appeals to a broader audience of casual investors. Its simplicity and meme-driven marketing make it an attractive alternative for those looking for high-risk, high-reward opportunities.
Shift from XRP to Meme Sensation Mpeppe
The transition of funds from established cryptocurrencies like XRP to newer meme coins like Mpeppe (MPEPE) reflects a broader trend in the market. Investors, particularly retail traders, are increasingly seeking out opportunities with higher upside potential, even if they come with greater risk. Meme coins, with their ability to capture the imagination of the internet and generate viral hype, offer the possibility of quick gains, which is especially appealing in times of market uncertainty.
For XRP holders, the decision to liquidate and invest in Mpeppe (MPEPE) represents a shift in strategy. Instead of waiting for Ripple’s legal issues to resolve and for XRP to regain its former highs, many are opting for a more speculative play that could deliver outsized returns in a shorter time frame. With Mpeppe’s presale rapidly progressing and its community growing, it’s not surprising that XRP holders are finding comfort in this meme coin.
Mpeppe Emerges as a New Favorite Meme Coin
As XRP continues to struggle, weighed down by legal battles and a massive liquidation event, Mpeppe (MPEPE) is emerging as a favorite among investors looking to capitalize on meme coin hype. With its presale in full swing and strong community support, Mpeppe offers a promising alternative for those looking to escape the bearish sentiment surrounding XRP. Whether Mpeppe can sustain its momentum and deliver on its potential remains to be seen, but for now, it’s providing much-needed hope to a market in turmoil.
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As the cryptocurrency market evolves, it’s becoming evident that hype alone can’t sustain a token’s value. This realization has led some of the largest Bonk (BONK) holders, known as “whales,” to diversify their portfolios by investing in GoodEgg (GEGG). Experts are now predicting a potential 100x return on GoodEgg (GEGG), with some of the most prominent Bonk (BONK) whales taking early positions in the token’s presale.
More Than A Memecoin: Bonk Whale Shift to GEGG
One of the largest Bonk (BONK) holders, previously known for their substantial investments in the meme coin space, has recently made headlines by becoming an early investor in GoodEgg (GEGG). This shift comes as Bonk (BONK) continues to face declining momentum, losing 2% in value over the last 24 hours, with weekly losses stacking up to 10%. The whale’s move reflects a growing sentiment that the current meme coin market is becoming oversaturated, with investors searching for projects that offer more than just speculative gains.
Bonk (BONK), once a rising star on the Solana network, has seen a significant reduction in trading volume, and many analysts believe that its future will depend heavily on finding new utility or partnerships to maintain investor interest. While the Bonk (BONK) community remains hopeful, the shift of whales to projects like GoodEgg (GEGG) highlights a growing trend among larger investors who prioritize long-term growth over short-term gains.
GoodEgg’s Strong Fundamentals
In contrast, GoodEgg (GEGG) offers more than just hype. It is a utility-driven project with an AI-based dating platform that leverages blockchain for security and privacy. The project’s innovative approach to online dating has sparked interest from investors who see it as a real-world solution with significant potential for user adoption.
GoodEgg’s presale has already raised over $495,000, showing that investors are eager to get in early on this project. The platform’s combination of blockchain security and AI matching technology provides a fresh approach in a saturated online dating market, which is expected to grow significantly in the coming years.
Experts Predict 100x Gains and Long-Term Scalability
Market analysts are now predicting that GoodEgg (GEGG) has the potential to generate 100x returns for early investors, particularly as its platform begins to attract more users and integrates additional features. The scalability of GoodEgg (GEGG) in the dating industry, combined with its AI-driven capabilities, gives it an edge over traditional meme coins like Bonk (BONK).
While Bonk (BONK) struggles to maintain its market position, GoodEgg (GEGG) is gaining traction among both retail and institutional investors. The whale’s entry into GoodEgg (GEGG) has further validated the project’s potential, with many now looking at it as the next big thing in the crypto space.
As the presale continues, those who missed out on Bonk (BONK) during its early days are now looking at GoodEgg (GEGG) as their next opportunity for massive gains. With strong fundamentals and a clear roadmap, GoodEgg (GEGG) is positioned to become a major player in the crypto market, leaving Bonk (BONK) in the dust as it builds a long-term, sustainable future.
Join GoodEgg (GEGG) For More Information On Presale, Use links below to join our community:
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FIDA and MEW, cryptocurrencies based on the Solana blockchain, saw noteworthy positive sentiment on Thursday as they secured vital listings. Solana Name Service (FIDA) secured a listing on Binance, whereas cat in a dogs world (MEW) scored a listing on Upbit. These listings have garnered significant attention globally as the tokens’ prices skyrocketed 25%-30% in tandem with the announcement.
Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit
According to official announcements by the mentioned exchanges on September 19, both the tokens are set to witness particular listings today. As per Binance’s official announcement, the crypto exchange is set to launch FIDAUSDT USD-Margined perpetual contract today at 12:30 UTC. Simultaneously, Upbit’s announcement revealed that it listed MEW with BTC and USDT pairs on the same day.
Intriguingly, Binance revealed that it listed FIDA with up to 75x leverage for users on the platform. Further, the crypto exchange set the capped funding rate at +2.00% / -2.00%.
Simultaneously, Upbit Korea listed cat in a dogs world within BTC and USDT markets. The Asian crypto exchange revealed that it will also add transaction support starting today.
The Solana coins listings have primarily sparked market optimism over future movements, paving the way for new money inflow into the tokens.
Tokens’ Prices Rocket Over 25%
Simultaneously, FIDA price gained nearly 45% against the backdrop of Binance’s listing announcement. The coin rested at $0.3243 today with an intraday low and high of $0.2204 and $0.3297, respectively.
Similarly, MEW price pumped nearly 26% to reach $0.00533 riding the back of Upbit listing. The coin’s 24-hour low and high were $0.00407 and $0.005728, respectively.
Meanwhile, the rising price action primarily aligns with today’s listing announcements, as seen with numerous tokens previously. CoinGape Media reported Kadena (KDA) price surged nearly 30% with its futures listing on Binance.
Also, another report reveals that PEPE and BRETT prices pumped notably on their listings on Upbit. Altogether, the exchanges’ listings rationalize today’s massive price gains.
Simultaneously, Coinglass data illustrated an 82% surge in MEW’s futures OI to $76.31 million. Additionally, the coin’s derivatives volume skyrocketed 531% to $735.63 million today. This surge has projected further optimism for the Solana-based token. Also, it’s worth noting that Solana (SOL) price upsurged 8% to trade at $140 today.
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.
XRP News: Ripple-partner SBI Holdings has confirmed participation in Project Agora, a joint initiative led by the Bank for International Settlements (BIS) and seven central banks. XRP community reacted to the development due to speculation of potential integration or alignment for the cross-border payments over a unified ledger initiative.
Ripple Partner SBI Reveals Participation in BIS-Led Project Agora
In a press release on September 19, SBI Holdings revealed participation by the bank in Project Agora. Ripple’s partner participation the initiative brings XRP in the spotlight as the bank is a key partner for XRP and XRP Ledger adoption.
Project Agora is an initiative jointly led by the Bank for International Settlements (BIS) and central banks to improve the functionality of cross-border transactions through tokenization. The central banks are Banque de France, the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York.
“Through this project, we hope to improve the functionality of the financial system while maintaining the two-tiered structure of central bank money and private bank deposits, and provide new solutions that utilize smart contracts and programmability, thereby providing highly convenient services in cross-border transactions.”
The BIS/SWIFT-led initiative uses digital tokens representing assets, on a unified ledger, with smart contracts. The Institute of International Finance has convened 41 private sector institutions such as JPMorgan, Standard Chartered, Sygnum Bank, Visa, Mastercard, Citi, and HSBC.
XRP News: Token and XRPL In the Spotlight
While the initiative to revolutionize cross-border payments through tokenization doesn’t specifically mention XRP and XRP Ledger, the community believes Ripple’s technology aligns with Agora Project.
Ripple has focused on exploring the possibilities of tokenization on the XRP Ledger. In June, the company partnered with Archax to bring tokenized real-world assets (RWA) onto the XRP Ledger.
Moreover, the unified ledger concept resonates with Ripple’s Interledger Protocol (ILP), which connects banks and blockchains. This suggests a potential role for Ripple’s technology in the framework, if not XRP directly.
XRP community claims Ripple and BIS and several central banks have collaborated earlier for developments including central bank digital currencies (CBDC). Currently, Ripple CEO Brad Garlinghouse said that the company is seeking adoption in traditional finance.
XRP price jumped 2% in the past 24 hours, with the price currently trading at $0.58. The 24-hour low and high are $0.563 and $0.589, respectively. Furthermore, the trading volume has increased by 25% in the last 24 hours, indicating a rise in interest among traders.
Notably, Ripple is also a leader in remittance. If it captures 50% of the global remittance market, which is projected to reach $11.53 trillion in 2024 and $16.59 trillion by 2028, XRP price could even hit $5.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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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