The post XRP Price Surges 20% – Best Cryptos to Buy as Market Recovers appeared first on Coinpedia Fintech News
XRP is surging ahead amid a victory in its near four-year lawsuit. Traders now have regulatory certainty on XRP and other crypto assets, laying the way for increased liquidity inflows.
XRP Soars on “Big Win For Ripple”
Ripple Labs, the company behind XRP, has won its lawsuit.
After a lengthy legal battle with the United States Securities and Exchange Commission (SEC), the court slashed the regulators’ demand by 94%.
In the lawsuit, Judge Torres ruled that Ripple Labs must pay $125 million in civil penalties, a fraction of the $2 billion the SEC demanded.
Pro-XRP lawyer Jeremy Hogan regards this as a “big win for Ripple.”
IT'S OVER! The SEC v Ripple case has been quite a journey – thanks for sharing it with me.$125 Million penalty and a GENERIC injunction Order.This is a BIG win for Ripple, no doubt about it. Have a Wonderful Day! https://t.co/hCZZYsMl7E pic.twitter.com/7uuuwsx0Dw
— Jeremy Hogan (@attorneyjeremy1) August 7, 2024
Judge Torres also ruled XRP as not security in 2023, which, combined with the recent verdict, paints a vivid picture of the regulatory landscape for crypto assets.
Regardless of your opinion on $XRP…It never gets old watching @GaryGensler & SEC lose another crypto case.•Ripple forced to pay $125M instead of $2B•Judge rules that XRP is not a security pic.twitter.com/CMLmwBQINl
— Luke Martin (@VentureCoinist) August 7, 2024
Liquidity immediately began flowing into XRP, which is trading at $0.61. It is up 18% today, at breakeven this week, and up 40% this month.
XRP has a $34 billion market cap and a $5.4 billion 24-hour trading volume, up 267% today.
Now that XRP has regulatory certainty, it has a better chance of gaining traction with its use case: becoming the cross-border payment solution for banks and institutions.
This is happening as the broader crypto market recovers after a flash crash in August.
As such, everything is lining up for big gains across the board.
Let’s explore five other cryptos to buy now.
Pepe Unchained
Pepe Unchained blends the high-octane allure of meme coins with the cutting-edge utility of an Ethereum layer 2.
The project is also in its presale, allowing investors to buy in early.
It’s building a home for meme coins, with the spirit of the iconic Pepe the Frog meme at its heart.
The chain promises lower fees and 100x faster speeds than the Ethereum main network. Moreover, investors can stake their tokens and generate much bigger rewards.
Staking is live and currently provides a 254% APY. Comparatively, Ethereum staking offers a 7% APY.
The Pepe Unchained presale is ongoing and has raised over $7.6 million so far. That signals strong community support and hints at price gains once it launches on exchanges.
Traders can buy $PEPU for $0.0089461, but this price will increase throughout the presale. The next uptick is in one day.
Solana
Investors have been going crazy for Solana recently. This all comes down to its price performance against Ethereum.
While Ethereum has lost 23% of its value in the past week, Solana is down just 8%.
Investors deem this a show of strength on Solana’s part, which they think could be a sign of things to come.
Solana has also shown strength against BNB coin, recently overtaking it to become the fourth-most valuable cryptocurrency (third excluding USDT).
As such, analyst Lord Crypto speculates that Solana will hit $1K and calls this cycle a “bull run for Solana.”
First it was $SOL flipping $BNB to claim a spot in the top 4 crypto tokens by marketcap.Now $SOL hit a new ATH on the $SOL/$ETH pair for the first time since March 2024.If you had any doubts about this cycle being a bullrun for @Solana, debunk it and get onboard.Clearly… pic.twitter.com/Ev6fdgQ4SH
— Lord Crypto (@lordcrypto__) August 8, 2024
Currently, SOL is trading at $153.79. It’s up 0.5% today, down 8% this week, and up 8% this month. It holds a $71 billion market cap and a $5.2 billion 24-hour trading volume, down 4.8%.
Base Dawgz
While traders debate which layer 1 coin to invest in, a new meme coin is emerging and uniting everyone.
Base Dawgz is a multichain meme coin available on Solana, Ethereum, BSC, Base, and Avalanche.
No matter if you’re a SOL or ETH maxi, you can invest in Base Dawgz.
The meme coin sector is valued at $40 billion, and Base Dawgz has exposure to all the top on-chain markets.
But that’s not all.
It also boasts a staking mechanism and a refer-and-earn scheme, rewarding community members while adding to the project’s long-term potential.
There’s much to be excited about, and right now, investors can buy $DAWGZ at presale. It has raised $2.8 million so far.
The current Base Dawgz presale price is $0.007414, but this will rise in four days.
Pepe
Pepe is the iconic Ethereum-based joke token that kickstarted the meme coin mania in 2023.
Now, Pepe is the third most valuable meme coin, sitting behind Dogecoin and Shiba Inu.
With a 600% gain in the past year, it has significantly outperformed its two more established counterparts.
Per CoinGecko data, Dogecoin is up 36% this year, and Shiba Inu is up 48%.
Evidently, the market favors Pepe, and as prices recover, its momentum will only get stronger.
Traders’ fascination with Pepe is also reflected by its trading volume to market cap ratio.
It holds a $3.3 billion market cap and a $913 million 24-hour trading volume. Such high trading volume compared to its market cap indicates a lot of interest.
Currently, Pepe is trading at $0.000007849, down 3.7% today, 25% this week, and 13% this month.
Given it has been a strong performer this year, its current discount could be a solid buying opportunity for traders.
Helium
Regarding strong performers, Helium is leading the way this week with a 7% rally.
While not much, this makes it the best-performing top 100 crypto.
Given the macroeconomic jitters at the start of the week, its 7% week-on-week increase is impressive.
Helium is a DePIN cryptocurrency offering a wireless infrastructure network that provides internet connectivity.
The project has recently made some exciting developments, like partnering with T-Mobile and upgrading its network scalability with the Solana blockchain.
And because HNT is a Solana ecosystem token, it will likely continue to rise should SOL keep showing strength.
Currently, HNT is trading at $5.07, up 2% today, 7.5% this week, and 61% this month.
It holds a $815 million market cap and a $14 million 24-hour trading volume.
