After weeks of trading in the bearish zone, Ripple (XRP) and Solana (SOL) have been saved by some big news. The recent victory scored by Ripple in its SEC case helped the price of XRP recover above the $0.4800 support level, positioning it for a greater price increase.
At the same time, the filings for Solana ETFs sparked a double-digit price increase helping SOL recover above $150. While these top altcoins are looking bullish, their gains dwarf in comparison to the 160% price increase KangaMoon has recorded in the last seven days. Savvy investors are still buying KangaMoon, as it has shown signs of a 10x price increase.
Ripple Ruling Now Recognized As “Law of the Land,” XRP Pumps
After the recent victory of Ripple was highlighted in the recent Binance ruling, its top chief legal officer, Stuart Alderoty, has said that courts now recognize Judge Torres’ decision as being consistent with the law of the land. As we know, XRP has been classified as a non-security and this has seen the altcoin surge past the important support at $0.4800.
To the positive news, a new ETP for the Ripple XRP has also entered the market on Nasdaq Stockholm which is the largest stock exchange in the Nordic countries. These are the positive events that are taking place and with this the price of Ripple is expected to rise even further. Ripple coin is predicted to trade above the $1 mark before the end of the year.
Solana (SOL) ETF and Network Growth Inspire Price Recovery
21 Shares has joined VanEck in filing for a Solana (SOL) ETF. Speculations that Solana could be the second altcoin to get an ETF boosted the Solana price for the first time in weeks. Solana has been trading around the $150 level once again, having a 12% rise in the last one week.
In addition to the hype around a Solana ETF, the network has also played a significant role in the price increase. The Solana coin has moved past the 200-day SMA, and it can break the 50-day SMA in the subsequent days, suggesting an increase above $180 could happen soon.
KangaMoon (KANG) Emerge Biggest Gainer, Market Cap Crosses $100M
Over the last week, KangaMoon has been leading the top gainers in the market. Rising by more than 160%, according to data from CoinMarketCap, the price of KangaMoon has crossed the $0.10 support level, while its market cap has crossed $100 million.
KangaMoon is rapidly gaining traction in the crypto market because of its hybrid SocialFi platform that merges meme coins with P2E gaming and a social rewards system. The platform quickly onboarded over 32k users because it gives them a chance to earn good passive income by competing in several challenges and competitions.
Furthermore, the SocialFi aspect of KangaMoon gives the users the chance to earn rewards by engaging and contributing to the project’s awareness on different social media platforms. The higher the engagement of a user, the more their rewards. Because industry experts have said that this SocialFi concept could change the meme coin space, KangaMoon was a top ICO project, raising over $8 million.
The game of KangaMoon will be releasing in the next few weeks increasing the potential for increase of the project. While KangaMoon now trades at around $0.10, the launch will help the token skyrocket above $1, making now the best time to buy KANG tokens.
Conclusion
Although Solana and Ripple have seen relatively higher prices in the past week, KangaMoon has been the most outstanding in terms of percentage gains. Although it is already up by more than 160% this week, the upcoming game launch may lead KangaMoon to rise by more than ten times.
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