After a period of fluctuation, the crypto market is once again gaining momentum. The market cap is currently at $1.15 trillion, up 0.3% from the low point of $1.13 trillion a few days ago. Bitcoin has been leading the bullish charge, with a gain of almost 2% in the past week. Ripple’s XRP token has also gained more than 10% in the same period due to a growing positive sentiment around its legal lawsuit with the US Securities and Exchange Commission (SEC). If the judgment favors Ripple, the XRP token could experience explosive growth.
Strong Buying Pressure and Positive Sentiment Surrounding XRP
XRP’s bullish streak continues with the token up by 1.54% in the last 24 hours and trading at $0.52. This is significantly higher than Bitcoin’s daily percentile gain. XRP has gained 10.76% in the past seven days, 12.82% in the last 30 days, with 39.95% in the past 90 days and a year-to-date performance of 54.23%. This shows strong buying pressure and overall positive sentiment surrounding the virtual currency. XRP’s technical indicators also point to bullish sentiment, with its 50-day simple moving average (SMA) price of $0.47 below its market price and its 200-day SMA price of $0.4195 reinforcing the positive trend. Its relative strength index (RSI) figure of 68.97 shows that it is trading very close to the overbought zone, hence the strong bullish sentiments at play. Its moving average convergence divergence (MACD) shows a strong buy signal, following the rise of its blue trendline above its orange counterpart.
Wall Street Memes Project Gains Popularity
The crypto market has a diverse range of projects addressing unique needs. One such project is Wall Street Memes, a new meme coin protocol that has already raised over $3.2 million in its sixth presale stage, just two weeks after its launch. The project stemmed from the 2021 GameStop incident and is a tokenization of several retail investors’ rebellion against corporate capitalism. The project has attracted a one-million-strong community looking to profit from these perceived worthless coins just like deep-pocketed investors do. Wall Street Memes has gained significant attention online, with up to 400 million impressions. It has been spearheaded by the team who previously launched the popular Wall Street Bulls NFT collection on Ethereum, which sold out in just 32 minutes in 2021. The project’s unique appeal as the last hope for the common investor has seen it attract Tesla and Twitter boss Elon Musk who has spent some time interacting with the project on different social platforms. The project has also launched its own Bitcoin-focused NFT collection showing that it is currently on trend with the broader market interest in Bitcoin-native digital collectibles.
WSM Native Token Could be Listed on a Tier-1 Crypto Exchange in the Coming Weeks
Wall Street Memes is transcending the umbrella of being a regular parody coin. Instead, many crypto whales and analysts are positioning it as the next king of memes right after $PEPE and $DOGE. If the project maintains its strong online presence, its $WSM native token could easily be listed on a tier-1 crypto exchange in the coming weeks. The $WSM token is experiencing a strong run in its presale, having already raised over $3.2 million. Interested investors can purchase the token at its current presale price of $0.0268. However, in two days, the token’s value will increase to $0.0271, making now the most opportune time to invest in the project.
The crypto market is currently bullish, with Bitcoin and Ripple’s XRP token leading the way. Wall Street Memes is gaining popularity as a new meme coin protocol, with its $WSM native token experiencing a strong presale run. The project is attracting a one-million-strong community looking to profit from these perceived worthless coins just like deep-pocketed investors do. Its unique appeal as the last hope for the common investor has seen it attract Tesla and Twitter boss Elon Musk who has spent some time interacting with the project on different social platforms. It remains to be seen whether Wall Street Memes will maintain its momentum and become the next king of memes, but its strong online presence is a good sign for the project’s future.