What to know:
- $XRP hit a recent low of $1.8 following the flash crash on October 10th
- Institutional investments could be responsible for the recovery to $2.45 and above
- Several $XRP ETFs are expected to be approved by the SEC this month
- The US shutdown has delayed these approvals, so they will be closer together
$XRP has long been touted as a cryptocurrency with the potential to transform the banking industry, and it may finally be taking off.
The REX-Osprey XRP ETF launched successfully, with the $XRPR fund trading for over $37.7 million on its first day on the market. Now, several other $XRP ETFs awaiting approval decisions have been scheduled for October decision windows, including:
- Grayscale
- VanEck
- 21Shares
- Tree of wisdom
However, due to the US government shutdown, it is more likely that these sentences will all be delivered closer together once the SEC resumes operations.
SBI Holdings is also said to be increasing its investments in Ripple. It is currently one of the largest $XRP accounts in Japan and reportedly holds over $10 billion in $XRP, which significantly exceeds SBI Holdings’ market capitalization of $14.7 billion.
Increased institutional investment, along with the release of several ETFs, could potentially spark a wave of enthusiasm for $XRP, pushing the token’s price above the $2.4-$2.6 range and back above $3.
In turn, this could lead to the transfer of capital into smaller crypto projects ready to grow.
We’ve identified three projects that we think will benefit from the rise in $XRP’s price, so read on as we explain why Bitcoin Hyper ($HYPER), Snorter Bot ($SNORT), and Ripple ($XRP) are our top picks for the best cryptocurrency to buy.
1. Snorter ($SNORT) – Find the hottest Altcoins first with this Sniper Bot powered by Telegram.
Snooze Token ($SNORT) is the pre-sale token for Snorter Bot, a sniper bot that finds the best performing Solana meme coins and presents them to you through an easy-to-use mobile interface on Telegram.
Trading meme coins might seem simple on the surface, but it is a rapidly evolving market. By the time you have the ability to manually value a new coin, all the liquidity may already have been grabbed by whales and robots.
Solana speeds up the process with a honeypot detection engine that automatically evaluates new coins for pull-pull indicators. During beta testing, the Snorter bot achieved an 85% success rate in detecting carpet movement, a rate that Snorter developers hope to further improve in future releases.
As soon as you find the coin you want to snipe, simply provide Snorter with your buy and sell orders along with your preferred prices. The bot handles everything else, automatically executing your orders.
Of course, the Snorter bot will work with Solana at launch. There are also additional modules in development for Ethereum, BNB, Polygon and Base, which are expected to be released after launch.
THE $SNORT token is what takes Snorter to the next level. Unlocks a variety of features for the Snorter bot, including:
- An unlimited daily limit on trades
- Trading fees as low as 0.85%
- Mirror trading compared to other portfolios
- A high-speed private RPC node for fast execution of operations
However, if you want to acquire $SNORT at a low price before the token goes live, you will need to act quickly. It is currently pre-selling at $0.1081, but there are only four days until your chance to buy $SNORT at this price ends – check the price forecast for $SNORT for more information.
Join the Snorter token presale to wager rewards of up to 107% per year.
2. Bitcoin Hyper ($HYPER) – A Solana-based layer 2 for Bitcoin that adds smart contract functionality.
Bitcoin Hyper ($HYPER) is taking Bitcoin to the next level with a Solana Virtual Machine (SVM) using zK rollups. The project’s goal is to make Bitcoin a worthy competitor to Web3 cryptocurrencies like Ethereum and Solana by adding greater scalability and support for smart contracts.
While $BTC is an ideal asset to hold long-term for institutions like ETFs because it serves as a store of value, the way the Bitcoin network operates makes it difficult for retail clients to use it as an alternative to fiat currency.
Waiting at least ten minutes for a Bitcoin block to be added to the blockchain is simply too slow for most customer transactions, so Bitcoin Hyper is implementing an SVM-based Layer 2 solution to speed up clearing times.
This also benefits the introduction of dApps into the Bitcoin ecosystem. The Bitcoin Hyper network can support cryptocurrency exchanges, NFT exchanges, and other DeFi services, all using $BTC as the primary store of value.
His $HYPER which keeps the Bitcoin Hyper network running. When you own this official utility token, you get lower fees when trading cryptocurrencies and executing smart contracts on Layer-2. You also have access to Bitcoin hyper-decentralized autonomous organizations (DAOs), where you can vote on the future of the project.
The $HYPER presale raised over $23.8 million in token sales prior to the network’s launch. Buying today means you can purchase $HYPER for just $0.013125, but you’ll need to act fast. Check out our “How to Buy Bitcoin Hyper” guide if you need more information.
Get your $HYPER tokens today and earn up to 49% in staking rewards.
3. Ripple ($XRP): Allows institutions to exchange currency across borders faster than SWIFT
$XRP is Ripple’s native token, created to enable faster and cheaper global money transfers as an alternative to the SWIFT network. Thanks to a recent sidechain update, the Ripple blockchain now also supports Ethereum-compatible on-chain smart contracts.
Ripple enables real-time cross-border transfers through its on-demand liquidity service, which uses $XRP as a common source of liquidity between countries.
By using $XRP as an intermediary currency, it eliminates the need for institutions to tie up capital in currency pairs.
Ripple adoption is growing across the global financial services industry, with clients including Travelex Bank, SBI Holdings and Santander. SWIFT has also conducted live trials using the Ripple network to facilitate payments.
While $XRP has reached highs above $3.6 this year, the token’s price briefly fell to $1.8 on October 10 after a brutal industry-wide flash crash that wiped out over $19 billion in leveraged crypto positions.
However, $XRP has since recovered and is now trading sideways between $2.3 and $2.6 per token. Even at the current price of $2.45, the price of $XRP has increased nearly 350% over the past year.
$XRP can be purchased via any major CEX or DEX.
All crypto products are volatile. Make sure you always do your research before investing and only invest what you are willing to lose. This article is not financial advice.
Written by Aaron Walker, NewsBTC – https://www.newsbtc.com/news/best-altcoins-to-buy-xrp-etf-nears-approval/