Two altcoins are up by at least 40% this week while the two leading cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), stall.
XRP and fan-engagement token Chiliz (CHZ) are up by 14% and 9%, respectively, in the last 24 hours alone.
XRP is up by 48% in the last seven days and CHZ is up by 40% over the same period.
A crypto legal expert recently said Ripple lawyers should feel confident in the XRP lawsuit with the U.S. Securities and Exchange Commission (SEC).
Pseudonymous crypto analyst CryptoDonAlt says the SEC lawsuit could boost XRP like Elon Musk did for Dogecoin (DOGE), sharing a graph of XRP’s relevant resistances.
“Elon Musk was to DOGE.
What the SEC case could be for XRP.
Would be cool if it played out the same way, doesn’t have to.
Never any guarantees but it’s an exciting narrative for what is essentially a meme coin…
I’m down for full send, these are the relevant resistances
I’ll mercilessly dump the moment I get cold feet (and ducks get cold feet easily – we don’t wear shoes) but until then I’ll be an XRP maximalist.”
CHZ appears to be riding a wave of momentum from a recent fundamental development.
One wave is hype on the project’s work toward launching CHZ 2.0, which will be its own native blockchain designed for high speed and scalability.
We don't have to rely forever only on ERC20 or ERC721 equivalent. At @chiliz we think we can bring some innovation on top of fungible tokens formats. As we work with 100+ of the biggest brands in the world, its easier to deploy and scale. $CHZ https://t.co/iRsShRQjAa
— Alexandre Dreyfus ?? (@alex_dreyfus) August 22, 2022
CHZ is also seeing a boom in whale activity, according to Santiment.
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