The XRP price has been struggling to regain momentum, trading below its 21-day moving average at around $0.50. News that Binance will no longer support the use of XRP as a margin asset for trading has added to the negative sentiment surrounding the coin. Traders are contemplating whether it might be time to sell XRP after Binance discontinued the support for XRP and TUSD as margin assets in the Multi-Assets Mode. Even though the XRP price was flat following this announcement, the removal of support for XRP as a margin asset by the largest cryptocurrency exchange could reinforce the bearish trend affecting XRP since its recent highs in March. Short-term XRP price predictions suggest a potential 15% drop leading to a retest of previous lows around $0.4250.
Despite speculation and uncertainty in the XRP market, traders are considering selling their holdings as XRP remains an underperformer compared to assets like Bitcoin and Ethereum with better adoption outlooks. While XRP is up 74% from its recent bear market lows, it is still down 84% from its all-time highs. In comparison, Ether has seen a 230% increase from its 2022 lows and is down only 40% from its 2021 all-time highs. Bitcoin has surged nearly 300% from its 2021 lows and is down only 17% from this year’s all-time highs. XRP, although potentially winning its lawsuit against the SEC, lacks a significant adoption narrative, making it less attractive compared to other major cryptocurrencies in the current bull market.
With XRP facing challenges in the market, some traders are considering alternative investments that offer higher potential gains. Meme coins, particularly Dogecoin (DOGE), are being seen as potential options for achieving 5x gains. For those seeking even higher returns, lesser-known meme coins like Wiener AI (WAI) are attracting attention. Wiener AI, a Sausage-dog themed meme coin, offers exciting AI trading capabilities and is currently available in presale. With the presale already bringing in over $1.8 million and the price currently at $0.000707, investors have the opportunity to buy WAI at a market cap of under $50 million. Additionally, presale investors are earning a significant 538% APY through staking rewards.
As interest builds around Wiener AI and its potential for significant gains, investors are encouraged to join the “Sausage army” community quickly before the presale reaches $2.15 million. With 20% of the supply allocated to staking rewards and the potential for the price to rise significantly, WAI investors could see returns of 10x or more. The project has the potential to reach hundreds of millions or even billions of dollars, making it an attractive option for those seeking high-risk, high-reward investments in the crypto market. However, it is important to note that investing in cryptocurrencies like WAI carries substantial risk, and individuals should conduct thorough research and exercise caution before investing.
