The cryptocurrency market is nearing the $1.25 trillion market cap in August after the Ripple vs SEC verdict. Judge Analisa Torres ruled that XRP is not a security ushering in a new era in the digital assets industry. The ruling brought in positive momentum and leading cryptocurrencies started August on the front foot. While Bitcoin briefly dipped below the $30,000 mark, it’s holding strong at these levels indicating an upside swing. In this article, we will highlight the top two cryptocurrencies to watch in August 2023.
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2 Cryptocurrencies To Watch In August 2023
- Ripple (XRP)
Ripple’s native token XRP jumped nearly 75% after the ruling and is now hovering around the $0.70 mark. Leading cryptocurrency analyst CoinsKid has predicted that XRP could touch a new high of $3.70 in the coming months. That’s an appreciation of close to 430% from its current price of $0.70. According to CoinsKid’s chart shared on Twitter, XRP is geared for a price rise by forming an ascending triangle.
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Moreover, the analyst suggests that XRP has an increase in buying pressure as the price consolidates. According to the analyst, a major price jump could be on the horizon for XRP.
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- Shiba Inu (SHIB)
Shiba Inu is geared up for a possible launch of the Shibarium layer-2 network this month. The lead developer of ShibaSwap, Shytoshi Kusama announced in a blog post that Shibarium “will be likely” released in August. Additionally, the team will attend the Blockchain Futurist Conference in Canada on August 15 and 16 and more details about Shibarium could be announced.
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Also, a Shibarium launch update could catapult Shiba Inu’s price to the days leading up to the release. SHIB most likely could delete its fifth ‘zero’ and get back to trading with four ‘zeroes’ in the charts. Read here to know how Shibarium could sustainably scale Shiba Inu’s price up in the indices.