The post Ripple New Token Unlock, More Bearish Pressure? Litecoin Momentum Continues; NuggetRush Looks Towards Bullish Future appeared first on Coinpedia Fintech News
TLDR
Ripple unlocks 1 billion XRP tokens, which is expected to usher in further bearish pressure.
Litecoin gathers steam and eyes $100.
NuggetRush, a new utility-backed memecoin, is set to explode after its market debut.
As is customary with Ripple, on the first day of every month, 1 billion XRP tokens are unlocked. This contributes to the coin’s inflation and significantly influences its market dynamics and value. On March 1, the company unlocked $600 million worth of XRP tokens in three transactions: 200 million, 300 million, and 500 million. With XRP already in the grasp of the bears, this will further add bearish pressure on the token.
Meanwhile, amid the rise in investor sentiment, fueled by the recent JUP and DYM airdrops, Litecoin’s (LTC) momentum continues. At the same time, NuggetRush (NUGX), an emerging crypto and a top ICO, is nearing its launch, looking towards a bullish future.
NuggetRush (NUGX): Walking into a Promising and Bullish Future
NuggetRush (NUGX) is one of the most promising new ICOs preparing to launch. The presale has been selling out fast, with its listing near. A token costs just $0.018 in the fifth round of the ICO, with analysts tipping it for a 5,000% upswing after launch—Lambo!
In addition, its novelty also makes it set for a bullish future. Its fascinating blend of P2E, GameFi, NFTs, and memes—representing the best of several worlds—makes it appealing to investors and enthusiasts across the crypto landscape. As a result, it is poised for massive adoption and explosive growth, positioning it as the best new crypto to invest in.
While it boasts memetic appeal on the one hand, the token also has real-world applications on the other hand, setting it apart. As a memecoin, holders will be a part of a vibrant community and ride its immense volatility wave to staggering gains. At the same time, the coin’s value will also be fueled by real demand, as it will function as the in-game currency and a governance token.
Ripple (XRP): Significant Token Unlock
Ripple (XRP) is one of the most popular altcoins on the market, although for mixed reasons. Its ongoing lawsuit against the US SEC—a long legal battle since 2020—has seen it make headlines on several occasions, although for the wrong reasons. With its regulatory status under scrutiny, its future hangs in the balance, which has contributed to XRP’s price decline.
On March 1, the fintech company unlocked 1 billion XRP tokens from an escrow—like it does on the first day of every month. This token unlock accounts for 1.83% of the current circulating supply, contributing to the coin’s inflation and significantly affecting its market dynamics and value.
Typically, such unlocks are followed by a price drop; hence, we might see an XRP downturn soon. Therefore, traders are advised to exercise caution.
Litecoin (LTC): Growing Momentum
Litecoin (LTC) has been one of the standout top altcoins this year, mirroring the overall crypto market. Following the rise in investor sentiment post-Bitcoin ETF, LTC has been on a roll, charting a bullish course.
The bulls recently strengthened their holds, spurring the price. With momentum growing, the next resistance LTC will likely flip into support is $100. According to analysts, it will likely achieve this feat in the coming weeks, making it one of the best cryptos to buy now.
Although it is a long way from its all-time high (ATH), the community remains bullish. To ride this wave and not FOMO (fear of missing out) later on, we recommend adding it to your portfolio now and HODLing.
Conclusion
Ripple’s massive token unlock will likely add to the bearish pressure around XRP, with traders exercising caution. Meanwhile, Litecoin’s upward charge continues, while NuggetRush prepares to skyrocket after its launch. If you wish to become an early adopter or holder, simply click the link below.