Ripple (XRP) Holders Stuck In A Limbo With The SEC Case, Expert Recommends Solana And This $0.015 Token

Ripple (XRP) has been caught in a struggle to escape the dark clouds cast by its ongoing legal battle with the US SEC. Meanwhile, crypto market experts suggest considering Solana and another emerging coin to your investment portfolio as a hedge against the ongoing market volatility.

But the main question is, why are experts recommending this new coin while the market falters? Read on to find out!

XRP vs. SEC Update: Will the SEC Appeal the Last Court Ruling?

The ongoing legal saga between Ripple and the US SEC is far from over, even after a notable court ruling in August 2024. On August 7, Judge Analisa Torres ruled that Ripple must pay the SEC a $125 million fine for violating securities laws.

However, Ripple has filed a request to delay this payment, and the court granted a stay. This means Ripple will not have to pay the fine until either the time allowed for an appeal expires without one being filed or after the Court of Appeals has made its final decision in case of an appeal.

The fact that the SEC consented to this request before the judge granted it indicates that the Commission may still be contemplating an appeal. The SEC has until October 6 to make this decision.

Meanwhile, Ripple’s higher management has been clear that Ripple has no plans to appeal, viewing the ruling as a massive victory in their quest for legal clarity.

XRP Dips While Ripple CEO Says a US-dollar Pegged Stablecoin Will Launch Soon

While Ripple continues its legal battle with the SEC, XRP has experienced a price dip in recent months. Since the start of 2024, the token has lost 14% of its value, with recent declines wiping out brief gains made following a district judge's ruling that XRP is not a security. Over the past week, XRP has dropped 6%, and the monthly decline stands at 14%.

Amid the legal struggles and price volatility, Ripple is on the verge of launching its US-dollar pegged stablecoin, Ripple USD (RLUSD).

CEO Brad Garlinghouse has indicated that the launch is just weeks away. RLUSD, fully backed by US dollar assets, will operate on both the XRP Ledger and Ethereum blockchain, potentially offering a major boost to XRP’s value once it goes live.

Expert Opinion: Is XRP Up for a Parabolic Pump?

Crypto market analyst JackTheRippler recently took to X (formerly Twitter) to share his bullish outlook on XRP. He believes the token has reached its bottom and is now all set for a parabolic surge, which will set a new all-time high in the near future.

If this prediction holds true, it could provide much-needed optimism for XRP investors as they navigate both market uncertainty and the ongoing legal case.

ByBit Announces the Launch of bbSOL on Solana 

Cryptocurrency exchange Bybit has unveiled its latest venture, introducing its exchange-backed liquid staking token, bbSOL, on the Solana blockchain. This move aims to provide holders with improved financial flexibility while presenting the opportunity to earn rewards.

The bbSOL token allows users to stake their SOL while maintaining liquidity. This helps users participate in other market activities without locking up their assets. Staking typically requires users to lock up their tokens for a set period, supporting blockchain operations in exchange for rewards.

Moreover, Bybit’s new liquid staking option allows long-term SOL investors to earn passive income without sacrificing access to their assets. This is what makes bbSOL an attractive option for those looking to maximize their returns.

SOL Experiences Consistent Downward Trend as Solana's TVL Dips

Despite reaching a yearly high above the $200 mark in March 2024, Solana's native token, SOL, has faced considerable downward pressure over recent months. In the past month alone, SOL's price has dropped by 22%, with a 6% decline reflected in weekly charts. Interestingly, several factors are contributing to SOL's struggles.

One key issue is the overall bearish sentiment in the broader crypto market, influenced by concerns surrounding the US labor market, which has weighed heavily on investor confidence.

Additionally, on-chain activity on Solana has slowed, with its total value locked (TVL) dropping to $4.615 billion, per Defillama data. This reduction in TVL signals a decrease in the number of assets being used within Solana's ecosystem, further compounding the token's recent price struggles.

Expert Opinion: SOL Might Reach $155 in September!

Despite SOL's recent price challenges, some experts are optimistic about its near-term potential. A prominent crypto analyst known as The Moon on X (formerly Twitter) believes Solana may be on the verge of a breakout.

According to his analysis, SOL is currently trading within a Descending Triangle pattern, which often precedes substantial upward price movements. If this pattern plays out, SOL could see a sharp price increase, potentially reaching $155 in the coming weeks.

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What’s more, as the first decentralized forex brokerage, FXGuys combines a custom-built platform with analytics, social trading tools, and a prop firm funding program for talented traders. This creates an innovative ecosystem where users can improve their trading experience while sharing in the platform's profits.

FXGuys: Easy Funding, Intelligent Trading, and Exciting Rewards!

Joining FXGuys gives traders a range of compelling benefits that make it an ideal platform for both experienced and aspiring traders. One of the best features is its Forex Funding Program, which provides up to $200,000 in trading capital for skilled traders to manage.

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This combination of intelligent trading tools, easy funding, and exciting rewards positions FXGuys as a leading platform for those looking to take their trading to the next level.

$FXG Public Presale to Start in 10 Days: Why Should You Join Today?

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Conclusion

Ripple investors are stuck in a difficult position as XRP struggles to rebound amid legal challenges. Meanwhile, Solana and FXGuys are preparing to take over the crypto market with unprecedented growth potential.

SOL might be preparing to take off after hitting the bottom, and $FXG is entering its public presale phase. However, while SOL’s future hinges on speculations, $FXG’s clear presale roadmap promises up to 900% returns within a few weeks. So, crypto market experts suggest grabbing your $FXG tokens today before the public presale begins!!!

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