Ripple has partnered with the financial firm on expanding Web3 adoption in Japan
Ripple’s (XRP) price has dropped 1.5% today to $0.5672 while the overall cryptocurrency market has lost 4% in the last 24 hours.
The news of Ripple’s partnership with SBI Holdings has helped to protect XRP from more significant damage, as it has declined by a smaller percentage than many other major tokens.
In addition, the coin has gained 5% over the past month despite dropping 8% in the previous week due to Ripple’s less than anticipated $125 million settlement with the SEC last week.
This settlement has freed Ripple to sign more partnerships with the likes of SBI Holdings, with the company – and its associated token – likely to enjoy faster growth in the coming months.
Ripple Teams Up with Japanese Giant: What This Means for XRP’s Future
The announcement this week strengthens Ripple’s already-existing partnership with SBI, which had previously declared intentions to cooperate on remittances to the Philippines, Vietnam, and Indonesia in addition to issuing NFTs on the XRP Ledger.
This time, SBI Holdings has committed to promoting the use of XRP Ledger in Japan’s growing Web3 space, with the firm again focusing primarily on the issuance and trade of NFTs on XRP ledger.
It is noteworthy that this new project is being announced so soon after Ripple’s previously mentioned SEC settlement, even though it does not mark a significant departure from earlier announcements.
It highlights how Ripple has increased its expansion efforts now that it has a clear legal status, especially when combined with another partnership that was announced just last week.
It bodes well for the future of XRP, which has stabilized rallying strongly last week.
Its indicators have now stabilized in a very middle position, as the above chart illustrates, displaying neither particular strength nor particular weakness.
It is reasonable to assume, though, that XRP is about to rise again because it has been declining since it peaked at $0.62.
This is reasonable partly because of XRP’s improving fundamentals, and partly because traders are expecting a market uplift in the next few weeks.
A major factor in this increase will be Fed rate cuts, as analysts predict the central bank will lower its funds rate next month.
This will lift the cryptocurrency market as a whole, while Ripple could rise to $0.70 in the next one or two months.
New High-Potential Alts for Big Returns
It would not be prudent to anticipate XRP to rise too sharply in the future because it has reacted to good news in recent months fairly.
For this reason, traders may need to look at other options, like small-cap tokens, if they want returns that beat the market.
This includes new coins and presale tokens, which, especially after a successful raise, can frequently see significant increases in value upon listing.
While not all presale coins will succeed, Crypto All-Stars (STARS), an intriguing new Ethereum-based token that has already raised $400,000 through sales, is one example with promising futures.
This early figure, which indicates how big STARS could become, is encouraging considering that its sale only opened a few days ago.
The distinctive foundations of Crypto All-Stars, which include a “MemeVault” where token holders of all meme coins can stake their holdings, are another factor drawing attention to the platform.
All of the current meme coins are compatible with Crypto All-Stars’ protocol since it uses the ERC-1155 multi-token standard.
With holders of any meme token able to stake their coins with Crypto All-Stars and earn staking rewards, this will give it enormous accessibility and reach.
Most encouragingly, users who possess more STARS tokens will be rewarded more, which encourages long-term coin holding.
With 20% going toward its presale and 25% going toward staking rewards for those who stake STARS during the sale, its maximum supply will be 42.069 billion.
Investors can buy it now by going to the official Crypto All-Stars website, where 1 STARS currently costs $0.0013855.
This price is likely to explode once the coin lists, seeing as how quickly it has begun raising money.