The post Top Experts Predict XRP Could Be Replaced By New Altcoin Cutoshi appeared on BitcoinEthereumNews.com.

As Ripple continues its legal battle against the SEC, its token XRP is back in the spotlight. XRP has long seen its legal battles as a cap to its growth. Now, some experts predict that its biggest threat could come from a seemingly unlikely source. Cutoshi, a fun memecoin, is also building a complete DeFi system that could eat into XRP’s market. XRP Struggles Amid Legal Battle With SEC Ripple (XRP) is a major firm that specializes in crypto solutions for businesses. Namely, XRP is the currency of choice for Ripple’s business-oriented global payments network. As global payments are one of the most important use cases for crypto, Ripple is in a good position to benefit. Yet, despite this, XRP has been struggling. Last year, XRP reported a modest gain of 18.62%, putting it at its current price of $0.5905. This gain is low considering that Bitcoin, a much larger currency, rose 150% in the same period. Weighing in its price is its ongoing legal battle with US regulators and frequent token sales. What is more, it looks like the SEC is still targeting Ripple for its XRP public offering. After a preliminary ruling that went in Ripple’s favor, reports suggest that the US regulator will likely appeal the decision. This could result in another lengthy legal battle, after one that already lasted for years. If the court accepts the SEC’s appeal, this would be a disaster for XRP, just as traders were hoping for a relief. With the SEC still at its heels, XRP is having a hard time breaking out. At the same time, a new crypto token threatens to take a large portion of Ripple’s market. Could Cutoshi Replace XRP? At first glance, Cutoshi (CUTO) may look just like an ordinary memecoin. Inspired by the Chinese Lucky…

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Filed under: News - @ September 29, 2024 9:26 pm