Ex-Ripple Director Teases Big News: XMR Tanks on Binance Delisting As Traders Turn To KangaMoon (KANG)
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The post Ex-Ripple Director Teases Big News: XMR Tanks on Binance Delisting As Traders Turn To KangaMoon (KANG) appeared first on Coinpedia Fintech News
The Ripple (XRP) community is abuzz with the news of an ex-director teasing a major new in the coming days. On the flip side, Monero (XMR) has been hit with a 35% plunge as Binance delists the privacy-centric altcoin. Amidst this decline, KangaMoon (KANG) has emerged as one of the best DeFi coins for investors. Continue reading to find out why.
Ex-Ripple Director Teases Big News for XRP
Despite being one of the top altcoins, Ripple (XRP) has struggled with bearish sentiment for the past few months. Sean McBride, a former Ripple director, has recently teased an upcoming “big news” sparking excitement in the XRP community.
The teaser comes amidst reports that Ripple is preparing to expand into the U.S. market. The re-entry into this multi-trillion-dollar payment market may provide enough momentum to spark the XRP bulls back into action.
The Ripple coin recently retested a 10-year support level, as reported by J.D. The crypto analyst is optimistic that this could see the price of XRP rally by up to 39x in 2024. If this happens, the altcoin could surge to a new ATH above $19.
Monero (XMR) Tanks 40% Amidst Delisting From Binance
Monero (XMR), the leading privacy crypto, has recorded a 40% price drop. The cryptocurrency price fell from a weekly high of $170.37 to a low of $99.05. As a result of this price plunge, XMR traders have suffered liquidations exceeding $4.59 million.
Binance’s announcement to delist all Morning trading pairs on February 20th prompted the significant fall. Binance recently announced that it would be removing the privacy-focused Monero, along with three other coins, from its listings.
In addition to XMR, Aragon, Multichain, and Vai are the other three privacy coins that will be delisted. Despite the sell-off, there has been a recent recovery in price. XMR has increased from $100 to a high of $127, crossing the key $122 support level.
KangaMoon (KANG) Sees Massive Surge in Interest
While one of the top altcoins, Monero, struggles, the new kid on the block, KangaMoon (KANG), has been enjoying a surge in investor interest. KangaMoon has piqued the interest of the crypto community with its new approach to the meme coin space that promises more returns than both XRM and XRP.
KangaMoon is likely to outperform the rest of the crypto market because it solves the key meme coin problem, utility. Ranked as one of the best DeFi projects for 2024, KangaMoon is establishing a social-fi ecosystem to cater to the needs of meme coin enthusiasts.
The project will encourage community members to take part in challenges, tasks, competitions, and other unique events. Participants in these activities can earn cash, KANG tokens, and other digital assets.
KangaMoon’s tokenomics are also a huge improvement over other memecoins. Unlike Dogecoin, which has no limit on token supply, KangaMoon has one billion tokens accessible upon launch. To further enhance the long-term viability of KANG, the team has incorporated a burn mechanism into KangaMoon.
As the token supply reduces, scarcity would drive the price of KANG higher. KangaMoon is currently priced at $0.005 per coin in its initial ICO stage, but has been forecasted to surge up to 100x in 2024. This gives it the edge over XRP and XMR as the best altcoin to buy in 2024.
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