Shiba Inu: Can XRP’s Journey to $1 Lead Shiba Inu’s Race To Deleting a Zero?

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In 2020, the US Securities and Exchange Commission (SEC) initiated a legal action against Ripple, alleging that XRP should be classified as a security. However, the recent court ruling has determined that XRP, Ripple’s native token, is not a security. This outcome is being celebrated as a victory for the cryptocurrency industry. 

Following the ruling, XRP experienced a significant surge of 70% within 24 hours and is currently approaching the $1 threshold. This positive development has injected fresh enthusiasm into the investor community, while the broader cryptocurrency markets continue to exhibit positive growth. Notably, Bitcoin, Ethereum, Cardano, Shiba Inu, and other cryptocurrencies are also experiencing upward trends.

After the XRP victory, Ethereum crossed the $2,000 mark on Friday. Now, the focus shifts to whether Shiba Inu (SHIB) will also experience a rally and eliminate one of its zeros. Approximately a week after the SEC vs Ripple ruling, SHIB turned positive and is currently gearing up for the launch of Shibarium next month. 

However, the anticipation is that this development could boost SHIB’s price and potentially lead to it trading with four zeros. In this article, we will delve into when SHIB might delete its next zero, highlighting the potential scenarios and possibilities.

Will XRP Race to $1 Have an Impact on Shiba Inu?

As of now, Shiba Inu (SHIB) is being traded at $0.000007901, showing a rise of nearly 5.12% in the past 24 hours. In contrast, XRP is priced at around $0.79, experiencing a significant increase of 68% and aiming to reach the $1 milestone. While Ripple’s XRP is generating bullish sentiments, Shiba Inu is only following the broader cryptocurrency market trends.

Related article: CoinCodex Evaluates Shiba Inu Potential to Reach $0.01, Predicts Price Target for 2030

Despite the excitement surrounding the upcoming launch of Shibarium, SHIB investors remain skeptical due to the team’s reputation for postponing releases. To reach $0.00001, Shiba Inu would need to surge approximately 25% from its current value.

If XRP surpasses the $1 threshold, it could attract additional investments into the cryptocurrency markets. This influx of capital has the potential to drive the prices of Bitcoin and Ethereum even higher, creating a ripple effect that may eventually push SHIB toward the $0.00001 level.

If the launch of Shibarium aligns with the mentioned developments, it could contribute to an upward movement in SHIB’s price and potentially boost its position in the indices. However, in the event of additional delays in Shibarium’s release, SHIB may experience a setback and return to its previous state of trading with five zeros.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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