News that Ripple Labs is set to launch its very own US dollar-pegged stablecoin has failed to give the XRP (XRP) price a lasting lift.
XRP, which is the token of the XRP Ledger launched by Ripple Labs in 2012, was last at $0.587.
That leaves it down close to 7% for the week, and over 20% since 2024 highs printed in March.
Ripple’s CEO Brad Garlinghouse said the firm’s shift into the $150 billion USD stablecoin market didn’t mean it is giving up on its ambitions to grow its XRP-powered on-demand liquidity product. Rather, a Ripple stablecoin would act as a complementary product, Garlinghouse noted.
Either way, XRP investors don’t seem to have been too fussed by the news.
The dominant theme for XRP remains the SEC’s battle to classify it as a security issued by Ripple.
After some legal wins for Ripple in 2023 that momentarily boost XRP, momentum has stagnated this year.
But long-term price predictions remain bullish, not least for technical reasons.
XRP Price Prediction – Can XRP Reach $100?
A long-term assessment of the XRP price suggests it has formed a pennant structure in the last four years.
A long-term assessment of the XRP price suggests it has formed a pennant structure in the last four years. / Source: TradingView
A downside breakout could trigger a drop back towards 2022 lows under $0.30. But in the bullish market environment, upside price risks seem greater.
A break to the north of the pennant structure could see the XRP price quickly retest its 2021 highs around $2. That could mean 4x gains for XRP.
While not impossible, reaching a $100 token price during the current bull market seems far-fetched.
That would require a 170x rally, taking XRP’s market cap to above $5.5 trillion. That’s over 4x Bitcoin’s current market cap.
And XRP doesn’t have even close to the current levels of adoption as Bitcoin, or as strong of an adoption outlook as BTC.
XRP Alternative to Consider – 5thScape
Investors looking at altcoins might want to consider an alternative high-risk-reward investment strategy. Presale investing.
Analysts at Cryptonews spend a lot of time combing the presale market looking for potential gems.
One potential market leader they like the look of is a first-of-its-kind crypto-powered VR/AR project 5thScape, which has now raised nearly $4 million in its presale.
5thScape is pitching itself as the world’s first VR/AR mixed-reality platform to break boundaries through its integration of crypto tokenization to provide a superior reward experience.
5thScape runs on the Ethereum network and will make use of the Skale Network Layer 2 technology to enable the scaling necessary for gaming and other virtual world activities.
To work well, virtual reality and augmented reality need great hardware too. So the team at 5thScape will develop the VR Ultra headset and the Swiftscape VR chair in order to maximize comfort and ergonomics to deliver an immersive experience with precise motion tracking and intuitive controls.
The funds being raised in the presale will enable the project to complete the development and manufacture of its hardware and build out the decentralized network infrastructure.
Our presale has surged past stage 3!
Join us now and delve into a world of virtual reality with our multi-utility token.
Don’t miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage pic.twitter.com/QeznEVAvFJ
— 5th Scape (@5th_scape) April 4, 2024
Priced at just $0.00285, a steep discount versus the token’s planned launch price of $0.1, investors who get involved now can lock in paper gains of 250%.
Given its total token supply of 5.1 billion, investors who get in now are essentially buying into the project at a market cap of $52.1 million.
However, 5thScape could easily become a major market leader in its VR/AR niche. There is a good chance that it could one day become a $500 million market cap token.
That means investors who get in now could potentially lock in gains in the region of 1,000%.
5thScape was audited by Coinsult and no major issues have been found with its code. Also, the project is fully KYC’d by SolidProof; the team passed the KYC verification process on January 3, 2024.
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