There are hopes for the price of Ripple XRP as the SEC lawsuit sees some major developments. The project has seen its price languish during the 2021 market rally and the recent bear market dragged Ripple lower once more. Ripple was testing $1.00 last year but now trades at only $0.30. Despite the recent positive sentiment over a potential win for Ripple, investors should consider the potential upside for the coin.
A new project has emerged in Chronoly.io which is still in its second phase of its pre-sale, and early investors have already seen a 400% gain. The project has built a blockchain based marketplace for the trading, investing and authenticating of luxury watches. The original idea means there is no competition, and the project is still under the radar with many Ripple investors jumping ship over to the new Chronoly.io project.
Lawsuit Looks Good, but Stellar Eats Ripple’s Lunch
The XRP SEC lawsuit is looking good for Ripple after a recent courtroom battle. Jeremy Hogan, an Orlando based attorney has been an avid follower of the process and spoke to his Youtube followers about the case. “That hearing didn’t go well for the SEC. We used to call those ‘suicide mission hearings’ because you were being sent to your death but it was actually much worse for the SEC than you may even imagine as some major errors were made today by them”.
The SEC lawsuit looks good for Ripple XRP but while that is going on, Stellar Lumens has signed a partnership with payments giant MoneyGram to assist with blockchain payments. XRP holders have yearned for Ripple to be the remittance leader in the world of cross border payments but why they are losing ground on that plan. Even if the SEC lawsuit turns out favourable, what is the outlook for Ripple XRP price? A good estimate would be a maximum of 10x but many investors will be trapped at higher prices and the project will take time to get there if it has no agreements.
Chronoly.io Rocks in the Bear Market with a 400% Gain
After a terrible week across the whole crypto market, many Ripple holders are starting to look for tokens with direct utility in the real world, and are starting to jump head first into projects like Chronoly.io after it already posted a 400% rise in its token pre-sale.
Investors are joining a niche project that does not have to worry about competition from the likes of Stellar Lumens, as it benefits from first mover advantage. Chronoly.io has built the world’s first blockchain based marketplace for fractional investment in luxury watches. Users of the Chronoly ecosystem are able to trade small fractions of NFTs that are minted and backed by the physical watch which is held in storage and investors can redeem the watch out of the vault should they hold 100% of the NFT fractions.
The luxury watch market has been a long-standing investment asset for high net worth investors, and long term investments in watches like Rolex and Patek Philippe have outperformed real estate, gold, oil and even the Dow Jones. This unique concept and utility of NFTs and blockchain technology, could be big business for Chronoly (CRNO) and the coin is forecasted to outperform Ripple XRP when the lawsuit is finished.
Investors can still get onboard Chronoly.io through its phase two token sale before it hits mainstream exchanges. Chronoly CRNO tokens can also be staked for a passive income and analysts have predicted a 50x target price of $0.5 after the pre-sale closes.