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The ongoing debt ceiling crisis in the U.S continues to ripple through all market components. Although officials report positive discussions with U.S President Joe Biden, the lack of a conclusive resolution creates an atmosphere of economic uncertainty. This situation is one of the reasons contributing to one of the quietest weeks in crypto history. Bitcoin’s price has been stuck between 26,500 and 27,500 dollars. But what route are popular altcoins taking during this period?
XRP Review
XRP continues its one of the most significant crypto battles against the SEC. In the lawsuit where new information is shared daily, both sides appear confident. XRP has been more vocal during this period, creating fluctuations in XRP’s value. News that the lawsuit could end triggered a rapid price increase, leaving the critical level of 0.50 dollars behind.
A clear price decrease followed this, bringing the price down to 0.4 dollars. Today’s announcements by Ripple‘s CEO that the lawsuit could end in June and the setting of a date for the disclosure of the Hinman documents had a positive impact on the price. After a minor surge, the price reached 0.4549 dollars.
Dogecoin Review
Dogecoin continues to be the first cryptocurrency to come to mind when meme coins are mentioned. With Elon Musk backing the 8th largest coin by market cap, Dogecoin continues to stay active. The announcement of Twitter’s new CEO stirred up action in Dogecoin.
At the current point, Dogecoin’s price trades far from its 0.7 dollar peak at 0.07 dollars. New news from Twitter and Elon Musk could positively affect the price and possibly return it to this year’s 0.1 dollar level.
Shiba Review
Shiba Inu continues to be one of the rare meme tokens mentioned with Dogecoin for years. Investors still dream of the token, which at one point even surpassed Dogecoin, reaching 1 dollar. The altcoin, which saw 0.00008845 dollars in November 2021, is currently trading at 0.00000865 dollars.
Meanwhile, the Shib Army’s efforts to drive the price up continue. Trillions of SHIBs are burned in this process, and the team and supporters continue to burn tokens. These burns could significantly benefit the altcoin’s value in the future.
Ceek VR Status
CEEK VR made a quick entry into the market. It had risen rapidly from 0.03 dollars. The bear market also hit the favored Metaverse-focused altcoin. Following Bitcoin’s peak in November, the price experienced a spectacular rise to 1 dollar.
After this rise, however, the overall market downturn hit CEEK VR. In the bear market conditions, the altcoin almost gave back all its gains and slipped back to 0.07 dollars. This represents a 38% increase for those who bought the altcoin on its first day. Given the few who achieved this in the market, investors may be eagerly anticipating a bull run and the rise that could come with it.
