Judge Analisa Torres delivered a verdict on Thursday saying that American fintech company Ripple Labs did not violate federal securities law through its sales of XRP on public exchanges, a huge win for the company that sent the price of XRP soaring further.
XRP/USD last traded at its highest levels since April 2022, just above $0.80, up around 70% on the day.
The cryptocurrency, which powers the layer 1 XRP Ledger blockchain, broke above near $0.95, below a test of the $1.0 level.
But XRP is likely to continue to build up bullish momentum in the coming days as US-based exchanges like Gemini signal that they are open to re-listing the token.
Many American exchanges had removed the exchange after the SEC claimed that XRP was a security in 2020 as part of its lawsuit against Ripple Labs.
While XRP could do very well in the coming days, weeks and months as confidence returns to the market, cryptocurrency seekers looking for quick exponential gains might want to look at the best opportunities in the meme coin market.
Analysts at Cryptonews.com, who spend a lot of time analyzing the meme coin space for the best opportunities, have identified the Wall Street Meme pre-sale as a potential gem.
Wall Street Memes Raises $14.5 Million
Wall Street Memes, one of the most popular retail investment communities on the internet, rose to fame in the 2021 stock meme craze and has recently been expanding its relevance in the cryptocurrency space with the pre-sale of its new token. $WSM.
The pre-sale success of $WSM, which has raised $14.5 million in just over a month, is hardly surprising given the size of the Wall Street Memes community.
Not only are there 523,000 hyper-engaged community members in your Instagram account wallstbetsthere are another 214k on Twitter and over 100k on his other two Instagram channels, wallstgonewild and wallsstbullsnft.
In total, Wall Street Memes has a strong social community of 1 million degens, which analysts believe almost guarantees the $WSM token will be listed on tier 1 crypto exchanges like Binance.
Since 30% of the token supply is retained for community rewards, airdrops to holders can reasonably be expected to be a large part of the ecosystem.
In fact, the first $WSM airdrop it is open now.
analysts They are already predicting great things for Wall Street memes when you trade on the exchanges and you can be a part of that.
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Can $WSM reach $5?
Wall Street Memes is currently selling for $0.0319 in pre-sale, but will launch on major exchanges at $0.0337 with a fully diluted market cap of $67.4 million.
But given the influence of the Wall Street Memes investment community, many are predicting that it could be the next multi-billion dollar meme coin.
Let’s say $WSM hits a market cap of $1.8 billion like Pepe Coin did in early May.
That would imply a $WSM token price of $0.9, 26 times more than the launch price of the exchange.
Wall Street Memes would need to reach a market capitalization of $10 billion for its token to be worth it.
That might be a bit of an exaggeration.
But as risk appetite continues to return to the crypto space, nothing should be ruled out.
After all, during the last bull market, the Shiba Inu (SHIB) reached a market capitalization of almost $50 billion.
Buy Wall Street Memes here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
