There are significant developments for Ripple and two altcoins. These developments will also affect the price. For this reason, price predictions with high expectations continue to come.
Developments for Ripple
There was no new development in the SEC and Ripple case, which continued throughout the weekend. The SEC emphasizes that digital assets have no inherent value. On the other hand, he changed his stance by stating that it was only computer code. This meant that at the start of the lawsuit, the SEC stated that XRP was a security.
This shift in the SEC’s position is significant. It has raised hopes that the court’s decision that XRP is “not a security” will remain intact. Experts in the crypto and Ripple XRP community are analyzing this change in the regulator’s stance. Many see this as a positive development for XRP holders. As a result, the price of XRP has rebounded. It also surpassed the $0.50 resistance level and is currently trading at $0.5291. XRP is up 25% from its low of $0.4228 on August 17. Analysts say that according to the results from the court, the price of Ripple will reach $ 1.5.
Improvements for the Shiba Inu
Shiba Inu developers, led by Shytoshi Kusama, are making progress in scaling their Layer 2 scaling solution, Shibarium. Shibarium recently suffered a setback during launch where user funds were “paused” on the Layer 2 blockchain. However, there was a rebound in the total number of Shiba Inu token holders over the weekend.
According to Kusama, Shibarium has been scaled at 1,500% based on data from web3 development platform Alchemy. The developers of the project are working on creating additional protocols to manage and support traffic to the Layer 2 chain. When Shibarium is operational again, it is expected that the paused funds on the bridge will be accessible to users and a $2 million insurance policy will be in place for Kusama to reimburse investors if funds are lost.
What do the metrics say?
The measurements on the chain point to an interesting situation for the Shiba Inu, which is in the top 15 along with Ripple. Accordingly, it indicates a consistent increase in the total number of SHIB holders. In addition, this indicates that the interest in the token continues. In addition, the supply of SHIB on exchanges has decreased. Accordingly, this indicates that the selling pressure has decreased.
Active SHIB deposits on exchanges have also decreased since August 19. This shows that the owners are acting cautiously. On the other hand, it also indicates that he expects prices to recover and the funds paused on the Shibarium mainnet bridge to be released. Social dominance and social volume metrics used to measure the importance of the meme coin among its holders are currently neutral. However, if they rebound, they could act as a catalyst for the SHIB price rally.
Not just Ripple: price prediction for Akash Network
In addition to the evaluations for Ripple and SHIB, there is also the approach regarding Akash Network. Accordingly, AKT experienced a 6% increase in its price, reaching $1.48. In the past two weeks, it has increased by 150%. This impressive performance comes amid a positive outlook for the AI industry and strong forecasts for Nvidia, an AI-related company.
Akash Network, a decentralized marketplace for cloud resources, aims to create the world’s first decentralized AI Supercloud. AKT has seen a 6% increase in the last 24 hours and a notable 148% increase in the last two weeks. Accordingly, it performed extremely well. Other factors will affect the price of AKT in the future. However, when we look at cryptokoin.com, there is a combination of blockchain technology and artificial intelligence here. Both will be a strong driver for cryptocurrency adoption and performance.
