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Here’s Why XRP Price May Pump to $0.40

11/15/2022
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The downturn of the crypto market has significantly impacted XRP’s price. However, the payment-focused cryptocurrency may see a price pump, while value-seeking investors can look to RobotEra, a more profitable alternative for gain.

Market Downturn Stalls Ripple Rally

Like many other top coins, XRP had seen its price surge in the past few weeks following a brief market consolidation. However, as the FTX saga unfolded last week, the asset’s price soon plunged.

Following Monday’s massive bank run, FTX saw its business eviscerated. Reports alleging financial impropriety between FTX and Alameda Research, a trading firm founded by FTX chief executive Sam Bankman-Fried, prompted panicked customers to withdraw their funds.

Following a failed rescue attempt from rival Binance, FTX filed for bankruptcy, with Bankman-Fried resigning. Things took a turn for the worse over the weekend when over $400 million disappeared from the exchange. In light of Bankman-Fried’s disappearance and the fact that most of FTX’s top brass have since fled, authorities have yet to determine the nature of this transaction. Some who have spoken to authorities suspect it may have been an inside job.

Effects on Coin Prices

FTX’s departure has once again shaken confidence in crypto. Market observers considered the company to be a shining beacon. With investors now realizing it was all a fraud, many are wondering who will be next. As a result of investor disinterest in crypto, the market has experienced a massive decline.

As one of the most popular coins in the market, XRP’s value has also plunged. The digital asset trades at $0.834, a price pump of 10.6% in the past 24 hours but down by 20.25% in the past week.

Ripple Labs’ Strong Prospects

Despite the drop, there are reasons to believe that XRP could be prime for a huge surge. The asset’s developer, Ripple Labs, is currently amidst a two-year securities fraud case against the Securities and Exchange Commission (SEC).

This week, Ripple and its supporters were granted the ability to file Amici briefs in the securities fraud case. The company already has over a dozen supporters in the case, with notable names such as Coinbase, the Blockchain Association, and the Chamber of Digital Commerce. All of these names can now file briefs supporting Ripple’s case, bolstering the company’s ability to win.

Ripple has been making significant progress in the SEC case so far. With the company looking to wrap things up, XRP could be on its way to a massive price pump if things turn out positively enough.

TARO Presents A Good Buy Opportunity

As investors continue to look for gains, another crypto asset that could be very attractive right now is TARO, the native token for the RobotEra multiverse project.

RobotEra is building a metaverse game where players can engage in world-building. Here, payers can choose avatars and purchase land and property. All assets and property will be available as non-fungible tokens (NFTs), so players own whatever they buy.

Players are free to build at their discretion and can also take advantage of the game’s communal metaverse feature; here, they can participate in games, events, concerts, etc.

TARO, the platform’s native token, is looking to unseat top metaverse coins like Decentraland’s MANA and The Sandbox’s SAND. The asset is available on presale and could be the market’s next big thing.

Investors can buy 1 TARO token at $0.020 during the first stage of the presale. Tokens will increase to $0.025 in stage 2 and $0.032 in stage 3.

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Source: https://insidebitcoins.com/news/heres-why-xrp-price-may-pump-to-0-40-but-robotera-is-a-more-profitable-alternative