Ripple pumps 5% while market is red but Green Bitcoin also soars
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Despite a downturn in the crypto market, XRP demonstrates resilience with a 5% surge, while Green Bitcoin, a new ICO crypto, gains momentum.
A sea of red has swept the crypto market, but XRP has displayed outstanding resilience by pumping 5%. Meanwhile, the new ICO crypto, Green Bitcoin, is also soaring. Its presale surpassed $7.5 million today, with over $500K raised in 24 hours.
XRP price pumps amid growing optimism on Ripple Labs lawsuit
The recent XRP price increase occurred as traders turned bullish about Ripple Labs’ lawsuit against the SEC.
XRP is trading at $0.6344, up 5% today, 0.2% this week, and 17% this month.
Compared to other top 10 cryptocurrencies, its price has been suppressed in recent months. This is due to the overshadowing legal battle between Ripple Labs and the SEC.
However, the case is venturing into its closing stages amid the remedies phase, which will determine the penalties that Ripple Labs will pay for alleged securities law violations through the sale of XRP.
The SEC will submit its opening brief today (22 March), followed by a response from Ripple Labs by 22 April. The SEC then has until 6 May to give its final response.
However, in a recent development, both sides have agreed to seal details in the remedies briefing.
The market has responded positively, with one popular comment on X saying, “I guess this means we’re going to the moon.”
Meanwhile, a prominent crypto analyst, Blockchainedbb, predicts “it’s about time for XRP,” alluding that its price could be gearing for a more substantial uptick.
“The opening brief is due on March 22nd, and the SEC‘s reply brief will be presented by May 6th. The chart looks primed to me. I Loaded up on spot. I think it’s about time for XRP,” he wrote.
The analyst then displayed a higher-time-frame XRP price chart illustrating higher highs and higher lows in recent months.
Also taking a macro outlook, TradingView analyst Alikze believes XRP is gearing for a monumental breakout, with the first price target at $1.9.
The analyst also targets levels as high as $15.2, over 20x from its current price.
By outpacing the market, XRP’s outlook is significantly bullish. However, other altcoins are also displaying tremendous strength.
One is Green Bitcoin, a new Bitcoin alternative currently undergoing a presale. It recently reached the $7.5 million mark, raising a staggering $500K in one day yesterday.
Green Bitcoin presale exceeds $7.5M
Generous community rewards and dramatically reduced energy consumption are just some of Green Bitcoin’s advantages over its legacy counterpart.
Using a novel Predict-to-Earn mechanism, Green Bitcoin invites users to guess whether Bitcoin’s price will rise or fall the next day in exchange for $GBTC rewards and up to 100% bonuses.
Users must stake $GBTC to access the feature, establishing a robust utility that enhances its supply and demand dynamics.
Stakers will also garner passive rewards for locking up their tokens, currently valued at 84% APY. However, this will decrease as the staking pool grows.
Green Bitcoin launched on the Ethereum network to facilitate this innovation. But this move is also forward-thinking from an environmental standpoint.
According to its website, one Bitcoin transaction demands a whopping 1,173,000 Wh of energy, while a Green Bitcoin transaction uses just 34 Wh.
Currently, investors can buy $GBTC for $1.1062. However, the presale is set to end in just six days, so they must not wait around.
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