Source: Adobe
The XRP (XRP) price is struggling to keep up with a broader crypto market rebound on Thursday, rising just 1.4% in 24 hours as per CoinMarketCap versus gains of 3.5% for Bitcoin (BTC) and 4.5% for Solana (SOL), with XRP’s market cap having recently slipped below that of US dollar stablecoin Circle USD (USDC).
Down more than 20% on the month and trading just above $0.50, XRP’s market cap was last around $27.67 billion. That’s nearly $4.5 billion less than USDC’s market cap of just over $33 billion. XRP’s coin ranking it now number 7, with USDC taking the 6th spot.
The XRP price dumped hard earlier in the month amid a sharp altcoin sell-off. Geopolitics was the catalyst for the sell-off at the time, but macro headwinds have blocked a full recovery.
And XRP’s fortunes could yet worsen, with the cryptocurrency having broken below a key long-term uptrend.
XRP Price Prediction – Here’s Where XRP Is Headed Next
XRP’s sharp drop earlier this month saw the cryptocurrency break below an uptrend that had been in play going all the way back to early 2023.
Since the break of this trendline, the XRP bears have already hit three major price targets. Those were at $0.4850, $0.46 and $0.43, with bears likely to eye $0.40 next.
That target could well get hit is Bitcoin succumbs to a post-halving sell-the-fact reaction, and macro headwinds keep building.
The XRP price’s near-term technical outlook is ugly. Source: TradingView
XRP Alternative to Consider – 5thScape (5SCAPE)
XRP’s near-term technical outlook is ugly. The token may well continue to keep pace with its better-performing rivals for the remainder of 2024.
After all, Bitcoin sits at the forefront of global adoption in wake of recent US spot ETF approvals. ETH, while still facing regulatory risk, is a much more dynamic chain and remains the major home of DeFi.
Investors looking to take their first steps into the crypto market would likely do better choosing either of these two.
Alternatively, for more risk-tolerant investors looking to secure higher gains, a good strategy to consider is presale investing.
Up-and-coming web3 projects often conduct fundraising rounds to pay for early developments via the sale of their native token.
These tokens are normally sold at a very cheap valuation to attract intrepid investors.
Of course, presale investing is very risky too. A project may fail to deliver on its promises and roadmap, leaving investors out of pocket.
But if a project gains traction, presale investors frequently find themselves sat on 10x or more gains.
One project that analysts at Cryptonews think has a good chance of delivering short-term gains is AR/VR innovator 5thScape (5SCAPE).
5thScape (5SCAPE) – 2024’s Most Promising Presale?
First-of-its-kind crypto-powered VR/AR project 5thScape (5SCAPE) has already raised over $5 million so far. 5thScape believes that tokenization will play a major role in the future of VR/AR, and its $5SCAPE token is central to its vision.
Priced at just $0.00327, a steep discount versus the token’s planned launch price of $0.1, investors who get involved now can lock in paper gains of 200%.
Given its total token supply of 5.1 billion, investors who get in now are essentially buying into the project at a market cap of $16 million.
5th Scape Presale Stage 5 is Now Live!
Dive into the virtual frontier with 5SCAPE – the gateway to limitless experiences.
Hyper-Realistic VR Gaming
Unlock Premium Content#Cryptocurency#5thScape pic.twitter.com/EFIJ4MgIs4
— 5th Scape (@5th_scape) April 12, 2024
However, 5thScape could easily become a major market leader in its VR/AR niche. There is a good chance that it could one day become a $500 million market cap token. That means investors who get in now could potentially bag huge gains.
5thScape runs on the Ethereum network and will make use of the Skale Network Layer 2 technology to enable the scaling necessary for gaming and other virtual world activities.
$5SPACE token can be bought today with ETH, MATIC, USDT, BNB, or card.
Eighty percent of the total token supply is available for purchase in the presale. The excitement around the project is shown by the size of the community on social media.
5thScape’s Discord server already has more than 5,400 members, Telegram 16,588, X/Twitter 9,569, and 1,000-plus on its YouTube channel.
See why crypto YouTuber Tommy ranks 5SCAPE amongst his top 5 cryptocurrencies to buy now.
The post XRP Price Prediction as Ripple Falls Behind USDC In Coin Rankings – What’s Going On? appeared first on Cryptonews.
