Ripple Labs’ announcement of launching its own US dollar-pegged stablecoin did not have a lasting impact on the price of XRP. XRP, the token of the XRP Ledger launched by Ripple Labs in 2012, was last seen trading at $0.587, down by close to 7% for the week and over 20% since reaching highs in March 2024. Ripple CEO Brad Garlinghouse clarified that the introduction of a stablecoin does not mean they are abandoning their XRP-powered on-demand liquidity product. Despite this news, XRP investors have remained relatively unaffected as the predominant focus surrounds the ongoing SEC battle to classify XRP as a security issued by Ripple.
In terms of long-term price predictions for XRP, technical analysis suggests that it has formed a pennant structure over the last four years. While a downside breakout could lead to a drop below $0.30, the bullish market environment indicates more upside potential. If there is a breakout to the north of the pennant structure, XRP could retest its 2021 highs around $2, potentially resulting in 4x gains for investors. However, reaching a token price of $100 during the current bull market seems unlikely, as it would necessitate a significant rally of 170x, surpassing Bitcoin’s market cap by over 4x.
For investors looking at alternative high-risk-reward investment opportunities, Cryptonews analysts have identified a potential gem in a crypto-powered VR/AR project called 5thScape. This project has raised nearly $4 million in its presale and offers unique features such as being the world’s first VR/AR mixed-reality platform integrated with crypto tokenization. 5thScape operates on the Ethereum network and utilizes Skale Network Layer 2 technology for scaling in virtual world activities. The project also aims to develop VR hardware, including the VR Ultra headset and the Swiftscape VR chair, for an immersive user experience.
Investors who participate in 5thScape’s presale at a discounted price of $0.00285, compared to the planned launch price of $0.1, could potentially realize paper gains of 250%. With a total token supply of 5.1 billion, investors entering at this stage could be investing at a market cap of $52.1 million. The project has the potential to become a major player in the VR/AR niche, potentially reaching a market cap of $500 million, offering investors a possible gain of 1,000%. Furthermore, 5thScape has undergone auditing by Coinsult and is fully KYC’d by SolidProof, ensuring a level of legitimacy and transparency for investors.
It is important to note that investing in crypto assets, including projects like 5thScape, carries a high level of risk. The information provided in this article is for informational purposes only and should not be considered investment advice. Investors should conduct thorough research and due diligence before making any investment decisions in the volatile crypto market. While the potential for significant gains exists, there is also a possibility of losing all invested capital. Investors must approach these opportunities with caution and an understanding of the associated risks.
