Here’s Why XRP Price Is Crashing, What’s the Best Ripple Alternative?

Crypto is unpredictable, as always. The SEC vs Ripple case is finally over, with XRP agreeing to pay $50 million after the SEC dropped its appeal last week.

Crypto is a funny old world. The SEC vs Ripple case has finally come to an end, with XRP agreeing to pay $50 million after the SEC dropped its appeal last week.

Surely bullish news for XRP price, but what happened? Well, XRP dipped below $2.25 today for the first time in over 10 days. This is in line with the broader market reacting to no new news.

And what happened with the broader market? Well, most major crypto prices are down 2-3% today. Not a huge amount, but enough for most XRP holders to have a small amount of FOMO.

The current XRP market tells an interesting story. As you can see above, wallet values had previous highs of +115-134%. Things have cooled down a bit now. 30-day wallets are down 0.6%, but one-year wallets are still +42%.

Some market watchers see this as a potential buying opportunity. As they see it, there’s still plenty of room for growth, especially if we get another crypto bull run.

Looking at whale activity, we can see that big-money transactions (over $1 million) have dropped significantly, going from 500-700 per day to just around 120. But here’s the interesting part – large investors aren’t pulling back. In fact, they’re investing even more.

Investors holding over 1 million XRP have increased their stash from 41.7 billion in December 2022 to 46.4 billion now – that’s an 11.1% increase. This shows that despite the recent price movements, large investors remain optimistic about XRP’s long-term potential.

#XRP – Is Crashing Run for yourself 😂😂😂😂😂: pic.twitter.com/9FSIHPaDq0

The legal battle with the SEC might have finally reached its conclusion, but it has undoubtedly left a lasting impression on the cryptocurrency landscape. Throughout the case, there was constant speculation and varied opinions on the case’s potential outcome.

Now that the dust has settled, it will be interesting to observe how the cryptocurrency market reacts in the absence of this ongoing legal saga.

Investors who had previously adopted a “sell the news” strategy might continue to do so, as they anticipate the next significant development in the cryptocurrency sphere.

XRP saw a massive 400% pump in late 2024, but it was often overshadowed by meme coins during the year’s bull run. Now, another token is quickly gaining attention in the latter part of 2024.

This isn’t your typical meme coin. Solaxy is a serious blockchain project. It’s the first ever layer-2 solution for Solana and has already raised over $28 million in its presale.

Remember Pepe Unchained? That was Ethereum’s layer-2 which raised $60 million and delivered an 8x return after launch.

Now, Solaxy is quickly approaching the same presale milestone and could be next in line for a strong post-presale run.

But what makes Solaxy so special? Well, blockchain networks have always struggled with slow transactions and congestion, especially during busy periods.

To solve this, Solaxy is transferring transactions off the main Solana chain, allowing for faster and cheaper transactions without sacrificing any of the network’s performance. It’s like creating an express lane for blockchain traffic.

The team has also been busy upgrading the platform for even smoother operation. They've introduced a new sequencer that speeds up transaction confirmations, allowing users to quickly validate transactions before they reach the mainnet. It’s like adding an express lane to an already busy blockchain highway.

The team has also made the platform more flexible, allowing users to switch between different confirmation settings with just a few clicks. This provides users with greater control over their experience and allows them to choose the setting that best suits their needs at the moment.

The really useful part is how Solaxy connects Solana and Ethereum, like building a bridge between two major blockchain highways, allowing assets to move smoothly between them.

Overall, Solaxy is a promising project with a strong team, a good token economic model, and a useful solution that could revolutionize Solana’s infrastructure. It’s a project that any crypto investor should keep an eye on.