Ranked as the seventh biggest crypto with regard to market capitalization and named “Bitcoin’s biggest competitor” at the time of its release, Ripple (XRP) has gained a massive reputation over the past several years.
Coming in with an idea to revolutionize the whole banking system, it did not take long for Ripple to get the extensive recognition that it deserved.
Nevertheless, things appeared to rapidly change when the SEC filed a lawsuit against it in 2021, resulting in a large price drop. Ripple’s all-time high came in 2018 ($3.37), but these days, the crypto trades at $0.37 per token.
But, with that lawsuit ending soon, each crypto trader in the market keeps wondering whether the XRP price will reach $1 once more. Some experts believe it will rise again. Others seem more inclined to move their investment towards Tamadoge.
With the possibility of becoming the next top meme coin on the market, Tamadoge can easily overtake XRP when it comes to huge profits and ROI.
Ripple (XRP) Overview
Ripple’s XRP is a crypto that was launched in 2012 to revolutionize cross-border payments, reducing transaction costs, and in some cases replacing SWIFT as the main payment network. In general, Ripple works as a payment network and currency exchange platform that can be utilized for global transactions.
Whenever two parties are involved in a transaction, XRP is presented as a trusted intermediary and allows the network to know that everything went on well and accordingly. In that context, XRP can even facilitate fiat currency and crypto exchanges.
Every time transactions happen on the network, Ripple charges a small fee in the form of XRP, a minimal figure compared to the fees that banks charge. In general, that caught the eye of most of the major financial institutions in the entire world and hundreds of them started using XRP to enjoy some of its benefits.
The first instance of success came in 2017 when Ripple became the third biggest Crypto in the market behind Bitcoin and Ethereum. In 2022, the market cap reached a staggering $180 billion. At the time of publication, the XRP price stands at $0.37 per token, which is 10X less when compared to its all-time high of $3.37 in 2018.
The trading volume in the past 24 hours is more than $1 billion XRP and the price plunged by 1.22% within the same time. The token is now ranked number seven in the market cap list ($18.4 billion) with 49.1 billion XRP tokens circulating a maximum supply of 100 billion.
The SEC Lawsuit And Ripple’s Downfall
The Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs in December 2021 and holds Bradley Garlinghouse (Ripple CEO) and Christian Larsen (Ripple Co-Founder) accountable for making huge profits illegally.
The regulators believe that Ripple raised $1.3 billion via “unregistered securities” and that the executives involved profited $600 million from illicit business dealings. In case XRP loses the case, we may be looking at a complete turn of events about the status of cryptos in the United States – the government may have to classify XRP as a security instead of a currency.
Such a scenario may result in a similar precedent for other cryptos, which is why most analysts, traders, and investors are following the trial quite keenly. Moreover, in case SEC wins that case, the price of XRP will continue plunging and might pull the entire crypto space down with it.
On the flip side, in case of Ripple wins and proves its innocence, a new all-time high might come in the following months and years. That makes crypto a perfect choice for speculative trading. With that in mind, the latest news seems to be favoring Ripple.
The crypto has recorded lots of wins in court this far and the latest one happened on August 15 when Judge Netburn approved the motion for the validation of SEC officials’ public remarks.
Will XRP Surge Above $1?
Because of different macroeconomic and regulatory factors, including the lawsuit, the XRP price in the last several months has been quite volatile.
Nonetheless, considering that Ripple’s price is currently much higher than it was at the start of 2022, there is some light at the end of the tunnel suggesting that the price of $1 is possible in the coming months.
For now, the major challenge is overcoming the $0.75 mark and then maintaining value above it. From a technical point of view, some uncertainty surrounds the project, which is mostly caused by the SEC lawsuit. Investors are now waiting for a good reason to come onboard the XRP train and want a clear sign that a bullish trend will happen.
Since the end of March, there has been a constant price drop that was also impacted by the plunge in the price of bitcoin. XRP was close to reaching $1 on March 28 when the price stood at $0.93, but it plunged by more than 50% since then.
The great news is that Ripple has managed to maintain the $0.3 – $0.4 mark and the trading volume has majorly increased in the past several weeks. Cryptocurrency analysts are stating that the next step for XRP is to break through the $0.4 – $0.6 mark resistance.
However, due to the recent drop within the crypto space in general, a majority of the crypto experts are doubtful about XRP’s price and they do not believe that the project will reach $1 by the end of 2022.
Should You Acquire XRP Or Tamadoge?
Ripple is not the only crypto that is making strides in recent weeks. The new meme coin Tamadoge appears to be casting a shadow over XRP and all other leading altcoins in the market.
Tamadoge is a play-to-earn (P2E) doge-themed crypto that is expected to become the next number 1 meme coin on the crypto market. Unlike the other meme coins, Tamadoge comes with physical-world utility and offers an immersive P2E gaming experience.
TAMA is the platform’s native token and the main in-game currency for transactions. Within the game’s Metaverse (Tamaverse), players only have one aim, to train their Tama pets for battling. Every pet is a unique NFT and the players mint them as babies. Later on, they use the pets in the battle arena and fight for an opportunity to win some exciting prizes.
The project was KYC-verified by CoinSniper the smart contract audited by Solid Proof, which means that there is no ‘rug pull’ danger for the investors. Also, no transaction fees are charged for TAMA tokens. The presale for TAMA tokens has exploded in the last several days and investors appear to be much surer of this token’s success instead of XRP’s.
Furthermore, there will be a $100,000 crypto giveaway on the prize draw day just for investors who own TAMA tokens by then. So far, the project has already raised nearly $4 million and there are a little less than $55 million tokens that remain in the presale.
To acquire the remaining tokens, you will need to have 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 too, the price will be 1 USDT = 57.14 TAMA coins.
Investors can buy a minimum of 1,000 TAMA during the presale and a $10 gas fee and claim these tokens once the sale ends. The presale will last until September 2, so you still have a small window to become an early investor and multiply your investment amount once the project goes live.
Here is Tamadoge’s official Telegram group where you get the latest news about the project.
How To Buy Tamadoge
To start, ensure that you have a MetaMask wallet installed and active on your browser. You can also use one of the wallets that are supported by Wallet Connect, especially Trust Wallet. Purchasing on a desktop browser will offer you a smoother buying experience. For that, experts recommend MetaMask.
In case you are buying on mobile, you can use Trust Wallet and connect through the in-built browser. Copy https://buy.tamadoge.io into the Trust Wallet Browser.
After you get your preferred wallet provider ready, click “Connect Wallet” and choose the appropriate option. For the mobile wallet apps, you will require to choose “Wallet Connect”. Then, you will have three options: Purchase ETH with a card. This option will enable you to buy ETH that will be sent to your wallet by Transak.
You can then use the ETH to buy TAMA. Click “Buy Eth With Card” to start and follow the on-screen steps. Experts recommend buying a minimum of $15 worth of ETH to cover the minimum TAMA purchase. Buy TAMA with ETH.
After you have enough ETH in your wallet, in case you do not have ETH or USDT, please choose option 1 to buy ETH first, you can then swap your ETH for TAMA. Type in the amount of TAMA you want to buy (a minimum of 1,000) and then click “Convert Eth”.
Your wallet provider will ask you to confirm the transaction and show you the cost of gas. Buy TAMA with USDT. Ensure that you have $15 or more of USDT in your wallet before executing the transaction.
Type in the amount of TAMA you wish to buy (1,000 minimum). Click “Convert USDT”. You are then asked to approve the purchase TWICE. The first approval is meant for the USDT contract and the second is for the transaction amount. Please make sure that you go through both approval steps to complete the transaction.
After the presale is concluded, you can claim your TAMA tokens. For more details, visit https://tamadoge.io and click on the gold “Claim” button.
Although there have been positive updates about Ripple’s lawsuit, it does not essentially mean that XRP will surge towards $1 by the end of 2022.
Instead, crypto analysts and experts are saying that those who are interested in quicker returns need to shift their focus to Tamadoge – the trendy and hottest meme coin presale on the market. Please note, that the presale for TAMA tokens will last until September, and the price will maybe never be this low any other time.