1. XLR price has come down below $0.60 and has triggered concerns among investors.
2. NuggetRush has become a popular crypto coin with its trending features like P2E gaming and NFT staking.
3. As the crypto market is growing, NuggetRush has the potential to give better returns for early investors.
Most investors consider XRP as the safest crypto investment after Bitcoin and Ethereum due to its ever-growing demand in the market. However, the crypto market is always full of twists and turns as XRP is now finding itself in deep waters after dropping below the resistance DeFi coin price of $0.60 for the first time. It has led to concerns among the new investors with the sudden setback and they are still figuring out the reasons for this downfall.
At the same time, another altcoin to watch out for this month is NuggetRush (NUGX), which is a play-to-earn cryptocurrency in the market. It has made its debut and has got excellent response in the presale round by raising $3.75 million so far. Top analysts consider it as the next Dogecoin variant that also offers real-world utilities.
Now let’s look at both the coins and what lies ahead for them in the crypto market this month.
Story Behind XRP’s Downfall This Month
XRP is facing some really difficult times, but it’s not alone in this big crypto market. Some prominent names such as Bitcoin, Ethereum, and Solana have also seen their prices fall sharply. Bitcoin has nearly dropped about 6.70% while Ethereum fell by 8% last month. The major concern was for Solana to take a big hit with a 10% drop in the value. This widespread bearish trend has hit XRP hard, showing similar drops in value. The crypto market cap has also reduced by 6% approximately in the past week.
If we look at the big picture, there are major economic changes happening in the United States. These changes have caused havoc in the digital world, making things tougher for XRP. Technically speaking, there is a dip in the US PMI for March from 52.2 to 50.3. This has got people guessing about a possible cut in interest rates by the Federal Reserve in June 2024. So, people are now moving towards safer investments like government bonds.
Adding to the challenges for XRP, big investors and large account holders are moving away from it. Recent data shows that since the start of the year, people who own a lot of XRP have been selling off their stakes. This large-scale selling has pushed XRP’s price drop by 8% in the past week because of the liquidity lock mechanisms in place.
NuggetRush Shines Among Meme Coins This Month
With the new meme coins like NuggetRush giving real rewards and opportunities to make more money, there is a shift in the investor sentiment. Everyone is now looking to hold on to top altcoins that leave a real-world impact and are beyond mere speculation. NuggetRush is one such coin that has the ability to provide extra income for those who are good at online gaming. It has a unique platform where you have to play their virtual gold mining game and in return you will be able to earn real gold.
The current price of NUGX tokens stands at $0.020 and is expected to increase further as soon as it goes live in the market. With features like NFT staking, it has an added advantage over other crypto coins that are based on memetic market sentiment alone. By staking your NFT collection at their marketplace, you get an additional 20% returns every year.
Last, but not the least, it doesn’t charge any taxes while you buy or sell the NUGX tokens online. This way you can get your whole money invested without worrying about the online taxes that other cryptocurrencies charge from their investors. Surely, it is one of the best crypto investments for beginners who want to enter the market this month.
Bottom Line
As we have seen so far, XRP is under pressure to reclaim the lost faith from investors after the crypto price went down. But if we look at the overall crypto market, there are people who are making money by investing in emerging crypto coins like NuggetRush. With $3.75 million already raised till now, it is going great to become the king of NFT Gaming this year.
