TrumpCoin, Shiba Inu, XRP, and more: Cryptocurrencies to watch this week

After a week of pressure, the crypto market has rebounded. One possible reason for the surge is the assassination attempt on former U.S. President Donald Trump, which is seen as increasing the chances of the Republican nominee winning the presidential election. The crypto community is excited because they believe that if crypto-friendly leader Trump wins, it will be beneficial for cryptocurrencies.

Let’s take a look at the cryptocurrencies to keep an eye on this week.

TrumpCoin (DJT)

DJT has experienced a surge in price in the past few days following the news of Donald Trump’s attendance at the Bitcoin Conference and the recent assassination attempt on him.

The cryptocurrency is not affiliated with Donald Trump, but it has taken advantage of the name. Disgraced “Pharma Bro” Martin Shkreli claims that he and Barron Trump, the 18-year-old son of Donald Trump, are behind Trumpcoin. However, this is not true.

The cryptocurrency has soared nearly 25% in the past seven days.

Shiba Inu (SHIB)

Crypto investors have been closely monitoring the popular meme-based coin Shiba Inu this week, as it is possible that it will surpass the $0.00002 mark by the end of the week.

That’s because the cryptocurrency team is reportedly preparing to launch new products on its Shibarium blockchain network. This development could potentially lead to a surge in SHIB’s price.

Shiba Inu has jumped nearly 8% in the past week.

XRP (XRP)

XRP, ranked seventh by market cap, has recently shown significant price increases, outperforming major cryptocurrencies. That’s because a year ago, a court said that XRP is not a security. This marked a major achievement for Ripple, the company behind XRP, and for crypto regulation.

Ripple has been locked in a legal dispute with the SEC for almost four years. The SEC alleged that Ripple conducted an unregistered securities offering by selling XRP. While the specific date of the long-awaited ruling is still uncertain, some people believe it may be announced in late July.

XRP is up 22% in the past seven days.

Stellar (XLM)

Stellar has been facing pressure in the recent days due to the bearish crypto market, but it now appears to be recovering from the losses.

The Stellar network, known for its efficient and cost-effective blockchain solutions, is trusted by major financial institutions worldwide. Recently, a leader in digital asset infrastructure, Switzerland-based Taurus, announced its integration with the Stellar network, expanding its presence in the asset tokenization market.

XLM is up nearly 20% in the past seven days.

Cardano (ADA)

The tenth-ranked cryptocurrency by market cap, Cardano, is poised for growth after a recent crucial upgrade to its mainnet. The latest upgrade, v6.5.0, brings several enhancements to the blockchain, strengthening its robustness and scalability. Scalability and efficiency improvements of the blockchain network lead to higher transaction throughput.

Cardano is over 16% up from the past seven days.