XRP Price Continues to Struggle Below $0.5

Despite monumental success in its lawsuit defense against the SEC, XRP’s price has shown significant weakness lately, currently trading at levels seen before its partial victory over the SEC.

However, investors are piling into Bitcoin Minetrix ($BTCMTX), a new protocol that lets users stake $BTCMTX tokens on the Ethereum network to mine Bitcoin. Since launching just over two weeks ago, its presale has raised over $1 million.

XRP Price Pushses Below $0.5 Despite Bullish Fundamentals

XRP’s price was supposedly suppressed through the last bull run due to the looming case against the SEC. The project’s proponents often predicted vast returns if it notched a victory against the SEC.

This looked to be the case following its partial victory in July, where Judge Torres ruled XRP not a security. XRP doubled in a day, reaching highs of $0.96. However, this swiftly corrected as the SEC fought back and appealed the decision, raising concerns that Ripple Labs’ victory would not stand.

Nevertheless, the SEC’s appeal was recently denied, cementing the verdict that XRP is not a security.

The Bank of International Settlements (BIS) also recently added Ripple Labs to its task force to establish cross-border payments. This hints towards even more adoption of XRP as a means for international payments.

Regardless of these issues, XRP’s price has struggled immensely, down 1.8% in the last day and 8.6% in the past week, currently priced at $0.49.

While it remains unclear how XRP will perform in the coming weeks, poor performance on the back of such bullish news indicates that buyers are exhausted and that further downside could be imminent.

Prominent “XRP Army” community member and commentator EGRAG Crypto noted the potential for further downside movement. In a recent trade idea on X, the analyst noted a move toward $0.28 or $0.17 might provide mass interest, equating to a “God candle” that could send the price as high as $1.12.

Yet despite the bullish advancements and potential for significant long-term upside, XRP’s on-chain activity paints a slightly different picture.

Market intelligence platform Santiment noted that the XRP Ledger is seeing less whale activity than this time last year. That said, it also pointed out that the amount of XRP that whales hold is increasing, meaning they could anticipate rising prices.

Yet, while XRP is struggling to retain its price, investment is flooding into the new presale project, Bitcoin Minetrix, which could present significantly better upside potential.

Stake-to-Mine Bitcoin Minetrix Emerges as XRP Alternative After Raising Over $1M Through ICO

Bitcoin Minetrix is a new Stake-to-Mine protocol built on the Ethereum blockchain. It lets users stake the $BTCMTX token for free Bitcoin cloud mining hours.

The process is simple: stake $BTCMTX, receive mining credits, burn the mining credits, and receive cloud mining power. This ingenious concept means anyone can begin effortlessly earning free Bitcoin and contributing to the network’s hashing power.

Furthermore, no new $BTCMTX supply will enter the market through staking rewards since they are paid out in mining credits. This massively enhances its supply and demand dynamics and is furthered by the fact that many $BTCMTX tokens will be locked for staking.

Bitcoin Minetrix takes the scarcity model first introduced by Bitcoin and runs with it. This hints at unprecedented upside potential when combined with its one-of-a-kind use case.

Analysts tend to agree with this. For instance, Jacob Bury calls Bitcoin Minetrix the best crypto to buy now. Bury is renowned for his early picks of high-potential projects, recently becoming one of the first to call Bitcoin alternative BTC20 before it pumped 7x after its presale.

Yet Bitcoin Minetrix’s benefits go beyond convenience and upside potential. Users do not need to buy and maintain expensive mining equipment or do not require any technical know-how. Moreover, its decentralized and transparent $BTCMTX token eradicates many of the cloud mining industry’s prevalent security issues.

Since launching just two weeks ago, the presale is approaching its first milestone of $1.5 million, with a price increase set for five days. However, investors who buy today can secure a price of just $0.011.

Visit Bitcoin Minetrix Presale

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