XRP Gains Bullish Momentum, Targeting Breakout Past $3

Fuelled by growing institutional partnerships and the long-awaited legal clarity from the SEC case, XRP is finally shaking off years of uncertainty.

The legal clarity from the SEC case and growing institutional partnerships are finally shaking off years of uncertainty from Ripple’s (CRYPTO: XRP) XRP, allowing it to regain its footing. However, as the apex court case concludes and the apex price levels are finally being tested, a new altcoin is already trending.

Phase 4 of the Mutuum Finance (MUTM) presale is poised to see 140% return potential as the token is set to launch on exchanges at $0.06. So far, the venture has managed to raise in excess of $7.8 million and boasts over 9,600 holders.

Here’s a closer look at the two tokens and what they could offer to investors in the latter half of 2024.

What Happened: Despite a valiant attempt to rally past the $3 psychological price level, seeing as high as $2.98, XRP was unable to hold the gains and dropped back down below $2.80.

The lack of follow-through at the apex price level comes despite a ruling from the U.S. Securities and Exchange Commission that XRP is a security when sold to institutional partners but not to retail traders.

After a seven-year legal battle, the apex court case has finally come to an end, and the verdict is in: XRP will continue to trade on major exchanges.

However, while the apex court case has come to an end, the legal clarity could see major implications for the crypto sector.

The SEC also stated that it plans to appeal a recent federal court ruling that deemed two tokens sold by blockchain startup TRM Labs to be securities.

The setback for the regulator comes as it attempts to expand the definition of a security in a move that has seen several tokens, including those sold in unregistered, continuous offerings, targeted by the agency.

The setbacks for the regulator and the apex court case ruling could have major implications for the crypto sector, which is largely operating in a legal gray area.

Related Link: Despite Apex Court Case Ruling, SEC Plans To Appeal Another Setback In A Busy Week For The Regulator

Why It’s Important: As the apex court case comes to an end, several other tokens are already beginning to trend.

Among these tokens is Mutuum Finance, which is offering a hybrid lending model that combines the best aspects of peer-to-contract (P2C) and peer-to-peer (P2P) lending.

The venture is also rolling out a USD-backed stablecoin on the Ethereum (CRYPTO: ETH) network that will feature an overcollateralized design to ensure long-term price stability.

The platform is further highlighting its commitment to user trust and institutional adoption by having its smart contracts open-sourced and third-party audited.

Mutuum Finance is also gamifying the user interface with a leaderboard of the top 50 holders of tokens, who are to be rewarded with additional MUTM tokens. On top of that, there is a $100,000 giveaway going on, with ten winners selected to each receive $10,000 in tokens. There is also a referral program running, which rewards users for helping to grow the platform through organic, grassroots outreach.

Among these initiatives, Mutuum Finance aims to foster a vibrant and engaged community around its project.

The venture is currently in Phase 4 of its presale, selling for $0.025. However, in Phase 5, the price will increase to $0.03, offering current investors an instant 20% gain.

Once the token begins trading on exchanges, it is expected to launch at $0.06, providing a 140% return potential for early investors.

Several crypto analysts have already designated MUTM as one of the most undervalued DeFi tokens of the year, and with over $7.8 million funded and 9,600+ users, it’s no longer a secret.

With the next altcoin rally fast approaching, all signs suggest that while XRP may rise, MUTM could completely dominate.