As a once third biggest cryptocurrency, it’s no news that XRP has been one of the most trusted cryptocurrencies in the market. More so, because it was launched as a Bitcoin Competitor, and has stuck to that name pretty well.
The improved transaction speed and reduced transaction fees offered by XRP too have played an important part in the coin getting where it is today.
On the investment front as well, over the years, XRP didn’t fail to make investors happy.
It all changed when a lawsuit filed by the SEC raised concerns about the company, bringing it to where it stands today, with the XRP token trading at $0.37, a 9-fold decrease from its ATH.
But the tables may be on the verge of turning, as the lawsuit is expected to end soon, and optimistically land in Ripple’s favor, vindicating the company of its blame.
And although this might be a positive indication for many, there’s still no surety of this happening, as it could very well happen that Ripple could lose the case. If that happens, it would be tough for the XRP token, which is expected to reach $1 in a matter of months, to maintain its current price.
While the news has provided traders with some optimism, many of them are looking for better investment opportunities. One, that would benefit them the most.
Tamadoge is a name that’s present across most considerations. With the promise to become the next big meme coin, investors are particularly keen on expecting the highest profit on their investment with Tamadoge.
But before we take a look at Talmadge reaching $1, let’s first check out the XRP story.
What’s Up With XRP?
XRP was designed to facilitate transactions on an open and trustless infrastructure that are normally done through central databases of financial institutions. Incentivising users by providing faster transactions and charging very little when compared to the traditional methods.
The primary focus of the network is to facilitate international transactions to banks in a low-cost manner, serving as a better alternative to the system they use currently.
While XRP is often interchanged with Ripple on the internet, it’s important to distinguish those two. XRP is a cryptocurrency, and Ripple is a for-profit company helping develop and promote XRP. along with many other crypto projects.
In 2017, XRP rose to become the third biggest cryptocurrency, behind only Bitcoin and Ethereum, reaching an all-time high market cap of $130 Billion.
This is quite the number as the current market cap of the coin is at over $18 Billion, a significant contrast to what was previously.
As of today, the currency is trading at $0.37.
Involvement of the SEC
The Securities and Exchange Commission (SEC) charged Ripple for selling unregistered securities toward the end of 2020, holding the co-founder and CEO of the company accountable for making unethical profits. These individuals were suggested to have made $600 million in profits, through a $1.3B round raised with unregistered securities.
This case has been working through the courts for close to two years, but now, there are chances of it possibly coming to an end.
XRP has been making a lot of wins in court, including the one where Judge Netburn approved the motion to authenticate video recordings, involving SEC officials making public remarks about the company. But the SEC isn’t ready to budge from its remark of considering XRP a securities token.
While investors await for the lawsuit to soon find a conclusion, there’s another news surfacing the market that has led to some optimism among investors. Ripple, the company behind XRP, has been recognised to be one of the fastest growing firms in the US, growing by 236% in a year.
Though the cards, for now, appear to be in XRPs favor, that’s no evidence to make any conclusions. As if XRP loses the case, it would severely affect the currency itself, while considerably hitting the state of other cryptocurrencies in the market. And if the SEC wins the case, there’s expected to be some panic among investors, resulting in the downfall of the XRP token quite rapidly.
These speculations clubbed with the already volatile crypto market, give an impression that it’s an either Yes or No situation for XRP. While the currency has gained some upward traction in recent months, for it to cross $1, it has to cross a lot of resistance levels including $0.5, $0.6 and $0.75.
So far the currency is maintaining its current optimal levels but isn’t showing too much of a promise of crossing $1. For investors willing to make better profits, there are better options available. Welcome, Tamadoge.
Tamadoge Shows Promise While XRP Raises Skepticism
Memecoins are very well known to chase heights among cryptocurrencies, but when it comes to the utility they bring to the table, they prefer not to be too visible.
This pattern is fairly observable in the two most popular meme coins, Doge and Shiba Inu. Both of which were once among the top 5 cryptocurrencies by market cap but aren’t as strong when it comes to displaying anything more than a price increase.
Tamadoge addresses most of the shortcomings of these popular meme coins, by being more than just a meme token.
Tamadoge provides users with a P2E gaming experience, with TAMA serving as the in-game currency as well as the native token, expected to soon become the #1 meme coin.
Along with its card game, where users can breed and battle their NFTs, Tamadoge also has a bunch of other games providing users with an incentive to earn through multiple mediums. While improving the engagement on the platform.
The presale of the token is live and has garnered serious attention and investments so far, as investors seem more optimistic about the success of this game coin, expected to overtake XRP when it comes to price.
So far, they’ve raised over $5 million with only 77 million TAMA remaining. The sale comes with a discounted price and will be live until 2nd September. Investors willing to invest can do so with Ether, USDT or any other fiat currency.
With the amount of promise and optimism around Tamadoge, it appears to be a better bet against XRP and may reach $1 first. It’s only a matter of time before we get to see the #1 meme coin of all time.