Ripple Selling 400m XRP, Price Dump Incoming? JASMY Fluctuates As Investors Shift To New Viral Contender
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June 08, 2024 05:55 PM Eastern Daylight Time
The longstanding Ripple (XRP) lawsuit is affecting XRP's trading price, and its investors are getting agitated. Apparently, Ripple could be facing a long year in the crypto market with all the token dumps this year. The other option is not so great either, as JasmyCoin's recent pumps and dips have left the long-term users in doubt.
Here's a bit on the upcoming meme giant.
Ripple is facing even grimmer times ahead in the crypto market
If you thought XRP was in bearish waters, the next few weeks are about to get rougher. And it has a lot to do with the ongoing legal battles with the Securities and Exchange Commission. Already, Ripple's place among the top altcoins is threatened.
About two weeks ago, some whale accounts dumped their tokens on BitStamp and Bitso, amounting to about $50 Million worth of XRP. While many thought that it might just be Ripple unlocking more tokens, there's been a more recent three-billion-dollar offload from the Escrow account to Ripple's wallet.
The huge Ripple price movements have been suspect among Ripple whales, and there could be sell pressure on the XRP token following such activities. So far, Ripple hasn't offered any explanation for the huge movements, and XRP is still on a 0.33% loss after a largely unremarkable month.
JasmyCoin (JASMY) might not be the alternative investors expect
JasmyCoin hit the crypto news with its pump two weeks ago, which has helped JASMY to 99% monthly gains. May was a great month for JASMY, but the token fell due to token dumping early in June.
DWF Labs deposited about 97 million JASMY tokens ($3.3 million) on Binance over the past three days, resulting in a dip in JasmyCoin's timeframes at every deposit. The cascade didn't end there, as many more JasmyCoin traders have also decided to cash in on the token.
The profit-taking has eaten into the JASMY price pump throughout May, and the token is now down to 2.24% on the daily chart. The effects of large token holders could affect traders, and many investors are already off to the next big thing in the crypto market.
Thankfully, it's not too far away; Raboo's presale is here!
Raboo is a more consistent bullish option for summer traders
Raboo opened the summer with $0.003 on its presale, and everyone expects a spike of 233% from the event. The $RABT token has pumped to 60% profits, as each token now goes for $0.0048.
The meme project will leverage AI to create memes fit for entertainment. Unlike its meme counterparts, Raboo plans to keep the meme stream fresh every day. With even funnier memes, $RABT is set to become the next best thing in the crypto-verse. The traffic that will hit the platform could bring a pump to outpace Dogecoin's surge in 2021.
However, profits are not all Raboo has its sights on. The members of the $RABT community are the first beneficiaries of the ecosystem. They have a chance to monetize their social media posts through Raboo, as the generative AI is on hand to convert all that content into profits.
Conclusion
The fun part about Raboo is that you can start earning even more $RABT tokens as soon as you get some of yours from the presale. The project is in Stage 4 of presales and going for $0.0048.
Stage 1 investors are already pocketed 60% ROI, and Raboo could turn in 100x gains once it lists. With its AI use cases, your Raboo investments are set for life.
You can participate in the Raboo presale here:
Telegram: https://t.me/RabootokenPortal
Twitter: https://twitter.com/Raboo_Official
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