XRP (XRP) price struggled to keep up with broader crypto market gains on Thursday, rising just 1.4% in 24 hours, while Bitcoin (BTC) rose 3.5% and Solana ( SOL) has recently underperformed Circle USD (USDC), a USD stablecoin that has gained 4.5% of XRP’s market capitalization.
XRP’s market capitalization was most recently around $27.67 billion, down more than 20% from the previous month and trading at just over $0.50. That’s nearly $4.5 billion less than USDC’s market cap of just over $33 billion. XRP coin is currently in 7th place and USDC in 6th place.
XRP price plummeted at the beginning of the month due to the sharp fall in altcoins. Geopolitics drove the decline back then, but macroeconomic headwinds are preventing a full recovery.
And the situation for XRP could get even worse as the cryptocurrency having broken below the main long-term uptrend.
XRP Price Prediction – Here’s Where XRP Is Headed Next
The sharp drop in XRP earlier this month pushed the cryptocurrency below an uptrend that continued into early 2023.
Since breaking out of the trendline, XRP bears have already reached three major price targets. These are $0.4850, $0.46, and $0.43, and the bears are likely to target $0.40 next.
This goal could very well be achieved if Bitcoin succumbs to a post-halving selloff and macroeconomic headwinds continue to strengthen.
XRP Alternatives to Consider – 5thScape (5SCAPE)
The near-term technical outlook for XRP is grim. The token will likely continue to compete with better performing competitors for the remainder of 2024.
Finally, with the recent US spot ETF approval, Bitcoin is at the forefront of global adoption. Although ETH still faces regulatory risks, ETH is a more dynamic chain and will continue to be the primary home for DeFi.
Investors looking to take their first steps into the cryptocurrency market are probably better off choosing one of these two options.
Alternatively, for more risk-tolerant investors who want to secure higher returns, investing before selling is a good strategy.
His emerging Web3 projects often conduct funding rounds that fund early development through the sale of native tokens.
These tokens are usually sold at very low prices to attract brave investors.
Of course, investing before selling is also very risky. A project may fail to meet its promises or roadmap, and investors may run out of money.
However, once a project gains momentum, a pre-sale investor often expects his return to be 10x or more.
One of the projects that CryptoNews analysts believe is likely to make a profit in the short term is 5thScape (5SCAPE), an AR/VR innovator.
5thScape (5SCAPE) – The Most Promising Presale of 2024?
The first crypto-based VR/AR project of its kind, 5thScape (5SCAPE) has already raised over $5 million to date. 5thScape believes that tokenization will play a key role in his VR/AR future, and its $5SCAPE token is central to that vision.
Priced at just $0.00327, it is a significant discount compared to the token’s expected launch price of $0.1, and participating investors are now eligible for a 200% profit.
With a total token supply of 5.1 billion, investors currently participating are effectively buying into a project with a market cap of $16 million.
But 5thScape could easily become a major leader in the VR/AR niche. There’s a good chance it could become a $500 million market cap token one day, meaning investors who get in now could reap huge profits.
5thScape runs on the Ethereum network and uses Scale Network Layer 2 technology to provide the scaling needed for gaming and other activities in virtual worlds.
$5SPACE tokens can be purchased now with ETH, MATIC, USDT, BNB, or card.
80% of the total supply of tokens is available for pre-sale purchase. The size of the community on social media shows the level of enthusiasm for the project.
5thScape’s Discord server already has over 5,400 members, Telegram 16,588, X/Twitter 9,569, and his YouTube channel where he has over 1,000 members.