The crypto market has a few tokens that are looking good in terms of price performance in 2023. One of these XRP, which has had a comparatively interesting 2022. This is because of its lawsuit with the United States Securities and Exchange Commission (SEC).
However, while there is general optimism regarding Ripple’s win, in this case, is it too late to buy Ripple? The lawsuit could have permanent and wide-ranging effects. As such, investors are keeping a close eye on the XRP token.
So is it too late to buy Ripple? We take a look at this question from multiple perspectives. This includes looking at how Ripple’s XRP performed in 2022, XRP technical analysis and price prediction, and of course the Ripple-SEC lawsuit itself. We also provide some alternatives to XRP which may do well in 2023.
Is it Too Late to Buy Ripple? Our Summary
It might have been easier to predict the XRP token and whether it is too late to buy Ripple. However, this year makes it particularly difficult both because of the market crash and because of the lawsuit with the SEC. These incidents have made it hard to predict where XRP will go. In fact, XRP saw a few rallies this year as news of the outcome of the SEC case became more optimistic.
These developments are going to play a huge role in the price of XRP – the SEC case especially. The following are some things to keep in mind when thinking about investing in XRP:
- The Ripple-SEC lawsuit will get its decision in 2023.
- The crypto winter will also have a sizable impact on how XRP moves, at least until the result of the lawsuit.
- The cryptocurrency will remain volatile during the crypto winter, just like other assets.
- Ripple’s global expansion will also factor into its price.
So is it too late to buy Ripple? It’s always risky in the crypto market so there’s no question that investors must be careful.
How Has Ripple Performed in 2022?
Ripple has had a few spikes in price in 2022.
Ripple’s performance in 2022 has been decent, given the fact that the market experienced a heavy crash. While XRP has largely crashed like other tokens in 2022, it has also gone through periods of ups. There has been a fair amount of volatility, though Q2 and Q3 were more subdued in that regard. News of the lawsuit’s resolution certainly helped boost the token up.
The Ripple-SEC Lawsuit
Without a doubt, the single most influential factor in deciding XRP’s price and fate is the lawsuit with the SEC. The latter has been adamant that the token is a security, with the crux of the allegation being that Ripple conducted an unregistered securities offering.
Ripple has firmly denied this since the SEC first charged Ripple and its executives with conducting the unregistered securities offering. It has fought against the charges fiercely and the outcome of the case is set to create a precedent for the market.
In 2022, there have been rumblings that Ripple would win the case and there’s certainly no sign that is in a bad spot. CEO Brad Garlinghouse said that the case is expected to come to a close in the first half of 2023 and that Ripple would accept a settlement if the SEC loses. Ripple has also received support from many entities in the crypto industry, including Coinbase and others.
The main question is whether XRP is a security. This is for the judge to decide. Both the SEC and Ripple filed motions for summary judgment in September 2022. It’s one of the more recent developments. Garlinghouse himself said in an interview that he expected the judge to make a ruling as opposed to the case going to trial.
One of the reasons analysts are so optimistic about the outcome being favorable to Ripple is because the judge ordered the SEC to hand over documents by former SEC executive William Hinman. The documents refer to a speech by Hinman in which he said that his understanding was that ether was not a security. Ripple believes that this could help its case.
XRP Technical Analysis and Price Prediction
The technical analysis and price prediction of XRP are also somewhat bullish. During the period of Nov. 21-24, XRP went from $0.34 out of a symmetrical triangle and above the 20-day EMA ($0.40). This is a strong indication of bullish momentum. The next resistance level is at $0.41, which bulls are eager to push past.
The XRP token could then go as high as $0.50. If the momentum is particularly strong, that figure could be $0.56.
However, $0.41 is hte key resistance level and is where bears will be at their fiercest. If the momentum falters, it would put XRP back into the symmetrical triangle. Further damage could result in the token going to $0.34. Bear in mind that this drop depends on a lot of general market factors.
Is It Too Late to Buy Ripple?
As you can see, the question of whether it is too late to buy Ripple is not an easy one to answer. There’s reason to think that the token could very well surge forward if the SEC case goes well, but there’s also the fact that there are other factors that will play a significant role in the momentum of the token.
Investors would do better to keep a close eye on how the token develops to see if there is potential for the asset in 2023. If all goes well, it is not too late to buy XRP, but one can never be sure in the crypto market.
Some Alternative Cryptos to XRP for Investors to Think About
Fortunately, there are many alternatives to XRP and other tokens which investors can look at if they want to scout the market for a potential return on investment.
IMPT
IMPT is a carbon credits platform.
One of the biggest issues the world is facing is climate change and this is an existential threat to humanity. One project, IMPT, is using decentralized technology to build a carbon credits platform for various stakeholders, including brands, businesses, and individuals.
The project is aiming to encoaurge those on the platform to reduce their carbon footprint via various means, The team wants to build a Web3 platform that serves as an example of how projects should use the technology. The social cause of fighting climate change is a prime example of how decentralized technology can bring people together for good.
Stakeholders on IMPT can buy, sell, or retire their carbon credits to help them reduce their impact. These carbon credits can be burnt, for which the burner receives an NFT that marks the occasion. The NFTs can then be held as a collectible or sold on an NFT marketplace like OpenSea or Rarible.
The IMPT tokens are used to buy carbon credits and they can be earned by participating in various activities in the ecosystem. There are three different ways in which stakeholders can earn carbon credits. Besides purchasing it with IMPT tokens, users can earn it from the shopping platform and businesses can set a portion of their sales margin towards it. We described these in the following section.
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The team also wishes to bring many brands on board, which will help in creating a robust ecosystem that will nudge all stakeholders to participate. The entire focus of the project is to encourage everyone to do their bit to help the environment and for that, they need to bring as many entities on board to establish a social revolution.
One of the main features is the shopping platform, which will feature users and brands working together to offset carbon footprints. IMPT plans to bring thousands of brands onto the platform. Users can make purchases from these brands through a shopping platform.
Each IMPT affiliate brand will decide the percentage of the sales margin that is allocated to the carbon credit program. Meanwhile, users will earn IMPT tokens for their purchases, which can be converted into carbon credits.
Users can also choose from hundreds of environmental initiatives to support and make contributions. The team will ensure that these projects are vetted and follow Global Certification Protocols.
Silks
SIlks is a P2E game based on the real world of thoroughbred horseracing.
Silks is a P2E game with a metaverse that mirrors the real world of thoroughbred horseracing. Players can buy, trade, breed, and race thoroughbred racehorses. The real distinction is that If your horse wins in the real world, you earn rewards as the owner of the virtual clone. There is an enormous amount of potential in this, especially in terms of marketing.
Players will need a Silks Avatar to participate in the game, and the Silks Avatars sale is actually taking place right now. It’s running out fast, as over 65% has already been sold as investors race to get into the ecosystem. Avatars are virtual jockeys – with different traits and rarities – that represent the player in the game.
Players have several activities to take part in besides just buying, breeding, and racing their horses. They can also stake in the Community Horse Farms for NFT rewards, which is a good system to make some passive income. The game also lets you build Horse Farms on Silks Land in exchange for a fixed fee and a share of the rewards generated by Silks Horses.
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The benefits of owning a Silks Avatar include a lifetime mint pass for the annual Genesis Yearling Sale, exclusive experiences, giveaways, and IRL events. These activities earn players rewards. It’s important to know what Silks Horses and what the Silks Yearlings are, and how they work. Yearlings are horses that are under 2 years old that have no racing experience. The yearlings revealed should begin their racing in 2023 and the game lets you track and earn from their development.
Silks has already revealed its 1-year-old horses today and these mirror counterparts in the real world. They are taken from the top registered 1-year-old thoroughbred racehorses in the United States. The data that is tracked includes bloodlines, training progress, and on-track performance.
Owners of the Silks Avatars NFT collection will get racehorses in the yearling reveal. The lifetime yearling pass is an excellent way to keep players engaged.
Silks has other NFT collections as well: Horses, Stables, and Land. All of these can be used in the game to generate revenue in various ways. Together, these collections create an organic playground of sorts and offer varied ways to earn revenue.
Dash2Trade
Dash2Trade is an all-in-one portfolio management platform.
In a bear market especially, there is a need for the right tools to perform market analysis and trades. Dash2Trade is building a platform that allows users to manage their investments better. Features on offer include crypto trading signals, predictions, and social analytics. The contracts have been fully audited by SolidProof and the team’s profiles have been verified via CoinSniper.
Users also have access to a strategy builder tool and can keep track of presale launches, both of which are useful whether the market is experiencing a downturn or not. All of these features combined create a one-stop shop for users’ needs.
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Dash2Trade will conduct its presale in Q1 2023 – which is also when the dashboard will launch and beta testing will take place. The D2T token will be listed on both centralized and decentralized exchanges following the presale.
Calvaria
Calvaria is a P2E card battler game with both P2E and F2P modes.
Calvaria (RIA) is another project that has made excellent progress in its presales. It is a P2E card battler game that is making itself as accessible as possible. It has several features to that end, as well as striking artwork and a story mode.
The game is set in the afterlife, with various factions vying for power. The game has an expansive backstory and those who enjoy single-player experiences can take advantage of the story mode. This also makes the game attractive to even those who don’t have much experience with card battlers.
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The game is available on both desktop and mobile devices – and you don’t need to hold any crypto or even need a crypto wallet to get started. There are also both Play-to-Earn and Free-to-Play versions, with the latter only lacking some blockchain-based features. The combination of the latter version and the fact that you don’t need any crypto assets to get started means even the least tech-savvy of individuals can enter the ecosystem.
The P2E version has benefits like the ability to receive royalty payments, wager on tournaments, and sell decks, cards, and upgrades. As for other features, Calvaria will have staking for the RIA token, a scholarship system, mini-games, and an in-game store.
RobotEra
RobotEra is a metaverse platform that allows players to create social experiences.
The metaverse has been one of the biggest topics in 2022. That doesn’t look like it’s going to change in 2023, with the space taking over discussions both inside and outside the industry. RobotEra is a metaverse that is at the heart of this, seeing players take on avatars of robots and participate in a highly interactive metaverse.
RobotEra focuses on the social aspect of the metaverse. There are several features in the project focused on this, including the ability to create your own social experiences and robot companions. Players don’t even need any programming knowledge to create these experiences.
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The project has a lot of potential in changing how people interact in the metaverse. People are creating their own social experiences, and this could establish a lot of long-term engagement. The latter has been one of the pain points of the niche and RobotEra may change that substantially.
The presale for TARO will take place in Q4 2022, so those interested should gear up for what could be a quick sale. The tokens can be purchased in either USDT or ETH, with the minimum investment being 1,000 TARO.
Tamadoge
Tamadoge combines P2E features and meme coin appeal.
Tamadoge is another metaverse project with immense potential. Unlike other meme coins, the token has a lot of utility and can be used in a variety of ways. The project’s metaverse is called the Tamaverse, and here players battle their pets against others for rewards. They will be able to use their TAMA to play special games, earn rewards and buy items like food and toys for their pets in the Tamadoge pet store.
Tamadoge is also a meme coin, and this combined with its Play-to-Earn features has created a great deal of interest in the crypto community. The team has also said that Tamadoge is not just “the future of the Doge ecosystem”, but “the future of Play-to-Earn.”
Tamadoge needs more than just P2E features and meme coin appeal to succeed, however. As such, the Tamadoge strategy is built on the features to come, and it is this long-term roadmap that is also bringing many into the Tamaverse.
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There are many features expected in the weeks to come, which is driving interest. This includes the Tamadoge Arcade which will accompany the initial release of the Tamaverse. This will provide a variety of retro arcade experiences that they can play and earn from.
Competitive elements to a metaverse also have a strong influence on the userbase and to that end, the team will create a leaderboard. As users battle their pets, they will be placed on the leaderboard, which will allow them to claim rewards in the form of the TAMA token.
While on the face of it, Tamadoge may appear like any other crypto project, the team has marked a few key features that could take its meme potential and amplify its reach in the market. The project is built upon the Play-to-Earn model, which has proven itself very successful in the market over the past 12 months.
Among those features that can set the project up for constant engagement with the crypto community is the Tamaverse – a metaverse where users can interact in myriad ways, For example, users can mint, breed, and battle with their doges. There will also be a marketplace where they can buy food, toys, and cosmetic items for their pets.
Ripple-SEC Lawsuit Will Set a Massive Precedent
The Ripple SEC lawsuit is set to be a landmark moment in the crypto market and will certainly set a precedent for future tokens. There’s no telling which way the token will go, but there’s some reason to believe that it could end up favorably for Ripple. The company has been fighting hard to prove its case and has pulled out all the stops.
The XRP token will certainly see a price bump if the case goes in favor of Ripple. However, investors should note that the market is in a bearish state, so XRP’s rise is not so cut and dry. There’s hope but that should be tempered with practicality. In the meantime, they should simply keep an eye on the developments in the Ripple case and the market, in general, to make sure they are in the safest position possible.
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
