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According to recent data, XRP the native crypto of the Ripple blockchain company, has seen a decline in trading volume, dropping below the $1 billion mark. Concurrently, two emerging cryptocurrencies, Injective (INJ) and Borroe Finance (ROE) are experiencing increased momentum.
Ripple (XRP) Legal Battles And Price Volatility
Several factors contribute to this decline, including regulatory uncertainties surrounding Ripple Labs and its ongoing legal battles with the U.S. Securities and Exchange Commission (SEC).
The market-wide downturn caused a 20% reduction in XRP’s price, influencing the decline in its trading volume.
Ripple (XRP) has been involved in a legal dispute with the U.S. Securities and Exchange Commission (SEC) since December 2020. The SEC alleges that Ripple Labs sold unregistered securities, creating regulatory uncertainties around XRP.
Despite the decline in trading volume, XRP has experienced some positive developments in recent weeks.
On Jan. 10, XRP’s trading volumes recovered by 96% in 24 hours, surpassing its $2 million market capitalization, signaling a normative level of engagement among investors.
The current XRP token trading price of $0.578 is a crucial support level, as the token has attempted to break out from this level three times since May 2022.
Injective (INJ) Token’s Surge
The INJ token, which is part of the Injective Protocol, has been gaining a lot of momentum lately. This token, limited to a maximum of 100 million units, works on the Ethereum network using the ERC-20 standard.
The reason behind its recent increase in value is linked to a surge in social media mentions.
This rise is also fueled by increasing interest in the protocol and excitement about the upcoming Volan upgrade.
Per recent data, the market capitalization of INJ has also increased, but it’s worth noting that three wallets hold a significant portion of its total supply.
While the surge in value is remarkable, there’s uncertainty about its long-term sustainability, especially considering the potential for larger investors to take profits.
Borroe Finance (ROE) Price Surge
Borroe Finance (ROE) is introducing a new fundraising solution powered by blockchain and AI. Its presale is live now and has attracted a decent capital inflow so far.
Positioned at the intersection of cutting-edge technologies (AI, blockchain and NFTs), Borroe Finance seamlessly integrates artificial intelligence (AI), blockchain, and non-fungible tokens (NFTs) into its decentralized financial platform, to enable Web3 startups to gain easy access to capital.
In its fourth presale phase, Borroe Finance has successfully secured over $2.5 million in funding, with the ROE altcoin price set at $0.019 per token.
The Polygon-based blockchain project, Borroe Finance, pioneers an innovative fundraising platform that makes it possible for blockchain and AI-based businesses to convert upcoming revenue streams into tradable NFTs, enabling swift capital generation for expansion.
A notable feature is Borroe Finance’s NFT marketplace, which enables startups to quickly sell off their NFTs to willing investors and gain immediate access to funds based on their continuous future earnings like royalty fees, subscriptions, and more.
Borroe Finance is led by industry veterans Maxim Prishchepo and Michael Price, adding credibility to the project in an era marked by Web3 space challenges such as rug pulls and sophisticated scam schemes.
The project has obtained a compliance certificate from BlockAudit, following thorough scrutiny of its smart contracts.
Borroe Finance Presale
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Source: https://beincrypto.com/xrp-trading-falls-below-1b-injective-and-borroe-see-uptick-in-momentum/