Analysts believe the price of Ripple (XRP) is set for a fresh move higher following news that the SEC has dismissed charges against its executives.
The dismissal of the charge is being celebrated as a surrender by the SEC, with traders expecting the extended range-bound price movement of XRP to shift in the coming days.
Meanwhile, a new penny crypto is turning heads after it raised $1.8 million in just three weeks.
With just three days to go at current prices, this might be your best opportunity for a favorable entry in Bitcoin Minetrix (BTCMTX).
XRP holders celebrate another victory in the lengthy battle between Ripple and the SEC.
The SEC recently dismissed its high-profile lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
This is another victory in Ripple’s battle against the regulators following a US judge’s ruling in July stating XRP sales were not classified as a security.
In response to the dropped accusations, Ripple’s chief legal officer stated that the move was “a surrender by the SEC,” and the XRP Army is celebrating similarly.
The regulatory action against Ripple has been ongoing since December 2020 and has yet to conclude, with a civil case against Ripple itself still on the table.
The market reacted favorably to the news, pushing the price of XRP up by almost 8%, allowing it to break the $0.5 level.
Despite this, XRP is still trading inside the broad range it’s been trapped within since mid-August.
The boundaries of the range lie at $0.47 and $0.55 – with the upper angle resistance provided by a long-term bearish .382 Fib Retracement.
XRP would need to break the current range’s upper angle to move higher toward $1.
Looking ahead, if the buyers push beyond the $0.55 resistance, higher resistance lies at $0.60 and $0.62. This is followed by $0.678, $0.7, and $0.75.
Additional resistance lies at $0.8 (bearish .786 Fib), $0.86 (bearish .886 Fib), $0.9, and $0.95 (2023 highs).
On the other side, support lies at $0.5, a rising trend line, $0.47 (.786 Fib), and $0.45.
Traders are hunting for alternative projects now that the SEC is making its stance clear that it won’t be coming after project creators in the future.
In particular, traders are rushing to Bitcoin Minetrix (BTXMTX) as its presale crosses the $1.8 million level.
With just three days at the current price level, the FOMO is officially kicking in for this groundbreaking stake-to-mine ecosystem.
The FOMO is officially kicking in for Bitcoin Minetrix (BTCMTX) as it pushes past the $1.8 million milestone with just three days to invest at the current discounted prices.
Investors are rushing to the project as they believe it has 10x potential due to its innovative stake-to-mine concept, which will transform the Bitcoin mining industry.
The entire idea behind the project is to help you mine Bitcoin through a tokenized staking system.
As a result, Bitcoin Minetrix is combining two hot trends with staking and mining, doubling the earnings for BTCMTX investors.
To get started, users simply buy and stake BTCMTX tokens to earn Mining Credits.
The Mining Credits are non-transferable ERC-20 tokens that can be burnt in exchange for mining time on the Bitcoin Minetrix solution to mine BTC.
Cloud mining allows users to rent computational power from dedicated mining centers without owning or maintaining expensive equipment.
Essentially, Bitcoin Minetrix allows everyday users to mine BTC.
Stakers of BTCMTX are currently earning a 324% APY;
The project is groundbreaking because it tokenizes the entire cloud mining process, which has traditionally been riddled with long-term contracts and scams that leave miners short on earnings.
Tokenizing the sector brings transparency to the mining operations, with smart contracts automatically managing user allocations and payouts.
Furthermore, tokenization also puts control of funds back into the hands of end-users throughout the entire process.
Overall, with its impressive rise in the presale, investors are backing this project as a disruptive force in cloud mining ahead of the upcoming Bitcoin block halving.
The presale currently sells the token at a discounted rate of $0.011.
However, the cost of the token is expected to increase by 10% in just three days, so investors will need to be quick to get positioned at the lower prices.
Popular analysts in the industry are becoming extremely bullish on the project’s future, demonstrating the building confidence behind Bitcoin Minetrix.
Furthermore, the Telegram community for Bitcoin Minetrix continues to grow as its popularity increases.
In addition, all the smart contracts have been audited by Coinsult – a highly respected crypto security firm – providing extra protection for inventors.
Investors can get positioned in BTXMTX by purchasing it with ETH, BNB, USDT, or a bank card.
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