XRP is eyeing $1 by the end of 2022, with an EVM-compatible sidechain underway and the Ripple-SEC battle likely to go in favor of the crypto giant.
Ripple EVM-compatible Sidechain is in Testing
Ripple has launched an EVM-compatible sidechain on its devnet, which marks the first of the three stages that will bring smart contract compatibility to the blockchain. The second stage, scheduled to go live in early 2023, will turn the sidechain permissionless. Moving to the third stage, the blockchain will deploy the sidechain on its mainnet.
?Introducing the first phase of bringing an Ethereum Virtual Machine (EVM) sidechain to the #XRPLedger.
EVM developers, we invite you to experiment with the functionality on Devnet and enjoy the best of Ethereum and XRPL for your #DeFi applications. https://t.co/gdBG8d5Xvl
— RippleX (@RippleXDev) October 17, 2022
“Throughout all three phases, the EVM sidechain will feature block and finality times comparable to the XRPL Mainnet and support Ethereum smart contracts and applications like Metamask, Remix, and Truffle,” said RippleX software engineer Mayukha Vadari.
Although the news didn’t cause green ripples in the market as anticipated, the integration will nurture demand for XRP, depending on its competence.
Minor Wins Against SEC Renews Hopes
XRP has charted a 25.5% uptick in a month, thanks to the strings of minor wins the company scored against the SEC. The XRP price stands at 0.4713 at the time of writing, with a 23.5B market cap.
XRP 1-month price chart, 18 Oct 2022, source: CoinMarketCap
The Ripple vs. SEC lawsuit is expected to come to an end in the first half of 2023. Most of the crypto community is optimistic about the verdict, as proven by XRP’s 6th position on the global charts in terms of market cap.
However, the litigation has taken a toll on the growth and adoption of the global settlement network. The upcoming EVM-compatible sidechain and the legal discharge will change that, giving XRP a major boost.
The coin has the potential to hit $1 by the first half of 2023. It’s a long shot in 2022, given that XRP has a bleak road ahead if the company loses the case.
Statement from Ripple GC @s_alderoty on today’s ruling on the #Hinman emails:
“We’re pleased by the sixth – and hopefully final decision – from the Court to produce these documents, which grants @Ripple access to important documents that the SEC has continued to withhold.
— Eleanor Terrett (@EleanorTerrett) September 29, 2022
Top Cryptos that will Outperform XRP this Year
Although XRP is a decent investment this year, IMPT, Casper, and Dogecoin have stronger bullish sentiments. For example, industry experts predict IMPT, the trending green token, to pump an impressive 100X next year from its presale price.
Judging by the fast-paced presale, IMPT tokens will sell out ahead of schedule and book at least 10X returns for early investors this year.
IMPT is a large Web3 ecosystem dedicated to carbon offsetting and climate action. It connects credible environmental projects with eco-conscious businesses and individuals who want to reduce their carbon footprint. This is how the three-pillared IMPT ecosystem decentralizes the carbon market:
- IMPT marketplace — where individuals and businesses can buy, sell, and retire carbon credits, tokenized into NFTs. The blockchain base of IMPT carbon credits prevents double spending and fraud common in the carbon market.
- IMPT shopping app — where anyone can acquire IMPT tokens while doing their everyday purchases. They can be then converted to carbon credits on the IMPT marketplace. IMPT has already tied up with top-tier global retailers, who will allocate a share of their sales margin for the program.
Did you know that carbon credits can be used to offset your carbon footprint? ?
The #IMPT.io platform allows you to earn carbon credits and protect the environment while doing your regular shopping! ♻️♻️
Get Involved Today! ? https://t.co/AWTussQ50l#climatecrisis #actnow
— IMPT.io (@IMPT_token) October 17, 2022
- IMPT social platform — where users can measure the impact of their contributions to carbon offsetting using the IMPT score. The feature strengthens IMPT’s growth potential with a focus on engagement and gamification.
As one of the most promising projects that cater to the fast-growing mandatory and voluntary carbon markets, IMPT will make an excellent crypto investment this year.
| Presale – 1
(ongoing) |
600,000,000 tokens (20%) | $0.018 |
| Presale – 2 | 660,000,000 tokens (22%) | $0.023 |
| Presale – 3 | 540,000,000 tokens (18%) | $0.028 |
IMPT presale overview
Casper is another cryptocurrency to consider buying this month. It has been a top gainer on the daily charts for a few days, capitalizing on significant social euphoria. The project’s active integrations and networking can take the price higher toward the end of 2022.
Dogecoin is a great option for investors who are feeling a little adventurous. Elon Musk’s acquisition of Twitter is expected to bring crypto integrations to the platform. The meme coin, which has a habit of taking steep turns overnight, may cash in on the rumors. On the other hand, cryptos like Polygon, Ethereum, and Cardano are always a haven.
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