The price of XRP (XRP) has surged over 9% in the past week, outpacing many other major cryptocurrencies in the market.
XRP currently has a market cap of $32.3 billion, making it the fifth-largest cryptocurrency globally.
While XRP has been soaring, new project TG.Casino (TGC) has also been experiencing an uptick in investor interest – with traders betting that it could be the next altcoin to see an explosive breakout.
XRP Price Surges Over 9% as Bulls Target $0.62 Resistance
At the time of writing, XRP hovers around the $0.599 mark, following three consecutive bullish daily closes.
The token is now trading at the same level it was in mid-August, during the bearish downturn that followed Ripple Labs’ first legal victory over the SEC.
During XRP’s latest surge, the token has broken free of the tight trading range it had been trapped in between $0.540 and $0.475.
XRP also used the upper boundary of this range as support over the weekend – thereby confirming that the uptrend was in progress.
The next point of contention for XRP is likely to be the $0.620 area, where the price struggled throughout the early weeks of August.
Earlier today, XRP briefly reached this zone before sharply retracing, signaling a high volume of pending sell orders.
However, if XRP can successfully break through the $0.620 resistance area, it would further solidify the current uptrend and open the door for a test of July’s high.
Ripple CEO Criticizes Former SEC Chair, Boosting XRP Sentiment
A potential catalyst for XRP's momentum is Ripple CEO Brad Garlinghouse's recent criticism of former SEC chair Jay Clayton's approach to crypto regulation.
Clayton had emphasized that regulators should only pursue cases they feel confident will hold up in court.
However, Garlinghouse accused Clayton of filing a lawsuit against Ripple and executives back in 2020 that had little chance of success.
Garlinghouse pointed out that Clayton brought forward the lawsuit before leaving his role at the SEC – describing it as "hypocrisy."
With the SEC now moving to dismiss charges against Garlinghouse and co-founder Chris Larsen, the Ripple CEO argued that Clayton’s lawsuit was an improper regulatory overreach.
His strong critique of Clayton's actions could be boosting sentiment around Ripple and XRP.
Overall, Garlinghouse’s remarks suggest that Ripple remains confident it will prevail in its remaining legal battles – reinforcing the message that XRP should not be considered a security.
TG.Casino’s TGC Token Touted as Next Breakout Star as Presale Raises $1.5m
As traders look for the next altcoin to surge, many have turned their attention to TG.Casino and its native token, TGC.
TG.Casino operates entirely on Telegram, allowing users to play hundreds of casino games and bet on sports anonymously, without any KYC requirements.
The platform is fully licensed by Gaming Curacao and offers an extensive range of slots, table games, live dealers, and more.
TGC powers the ecosystem, granting holders special perks like 25% cashback on losses and access to exclusive events.
The token also has a staking program that enables passive income of up to 322% APY for those who opt to lock up their TGC holdings.
Stakers also benefit from TG.Casino's buyback and burn mechanism, where a portion of the casino's profits go towards buying TGC tokens from the open market for redistribution.
With listings on major DEXs like Uniswap planned for once the presale ends, TGC seems poised for a breakout before the end of the year.
The project's presale has already surpassed $1.5 million, offering early backers the opportunity to buy TGC tokens at just $0.1375.
As TG.Casino progresses along its ambitious roadmap and expands its Telegram community, TGC's adoption and price could surge.
This makes it a low-cap crypto to watch in the closing weeks of 2023.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
