XRP and Cardano struggling, Borroe Finance rallying in presale
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While Ripple’s legal battle with the U.S. SEC continues, Cardano (ADA) has made significant strides in the smart contract arena in early 2024. However, a new defi project, Borroe Finance (ROE), has caught the attention of investors.
Ripple vs U.S. SEC legal battle
The SEC has requested a thorough examination of contracts to determine whether Ripple’s planned sales of XRP were in line with the court’s summary order.
In response, Ripple filed a Motion to File a Sur-Reply related to the SEC’s Motion to Compel on Jan. 24, 2024.
Meanwhile, XRP is under pressure, failing to break above $0.55.
As of Jan. 26, XRP was trading at $0.512, down 6.85% in the past week.
XRP needs to close above $0.55 for the uptrend to be valid. Losses below $0.45 might trigger a sell-off.
Cardano smart contracts skyrocket in 2024
The number of smart contracts deployed on Cardano spiked in early 2024.
Recent insights reveal that the number of V1 and V2 Plutus smart contracts was 14,379 on Jan. 1. As of Jan. 24, it was at 24,050, a 67% increase.
ADA peaked at $0.66. On Jan. 26, it hit $0.47, a 20.33% decrease.
The red bars on the histogram of ADA’s MACD indicator indicate volatility, and the RSI signals a sell-off.
Experts predict it may drop to $0.43 if Cardano continues to struggle.
Borroe Finance
Borroe Finance is a web3 financing system on Polygon focusing on liquidity pools and dapps, using innovative technologies like AI, NFTs, and blockchain.
Through its NFT marketplace, web3 businesses and content creators can generate instant cash flow.
It has raised over $2.7 million in ongoing presale. Presently, ROE is available for $0.0190.
Experts predict that ROE will rally once released on DEXs. The token will list for $0.040.
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