While investors were waiting for the next swing of the bull market, the sell-off has continued, leading to significant losses. Experts believe this bull cycle’s next leg can start around Christmas. Crypto enthusiasts are evaluating Ripple (XRP) as the previous leader, but does it have strength for another rally?
Ripple is one of the large-cap coins that can see a price surge, but it has already seen its largest upswing as XRP price is already up nearly 500% in the last two months. Ripple can still see growth, but the momentum will probably not be the same as at the previous rally. In contrast, fresh bull swings favor undervalued potential coins like DTX Exchange.
DTX Exchange is the first hybrid exchange in the Web3 space, rapidly increasing its market share. This DeFi platform is expected to transform traditional finance by bridging the gap with digital assets. This anticipated leadership in the exchange industry makes it a solid altcoin to invest in.
XRP Price Losses Momentum Falls To $2
For the last 17 days, XRP price has been trading in range-bound price action after making a monthly high of $2.90. It has dropped 29% from the peak, currently hovering above the crucial $2 support. In this range-bound momentum, the 20-period moving average was a constant support for the XRP price; however, the recent decline has broken this key support.
On weekly charts, Ripple is trading in negative with a decline of 10.53%; this sell-off can be attributed to the profit booking and broader market correction. XRP price can still reverse the direction to the upside, but a solid catalyst is needed to change it.
In the Ripple SEC case, the SEC acknowledged in August that Ripple did not commit fraud, and investors didn’t face financial harm due to the violations. A stay in the Ripple case might lead the SEC to drop its appeal, solidifying the ruling on XRP’s Programmatic Sales as a key legal precedent for the U.S. digital asset market. Resolving the case could bring much-needed clarity to the XRP price, which has been weighed down by uncertainty over the SEC’s next steps.
Ripple’s new dollar-backed stablecoin, RLUSD, is another development that could impact the XRP price. Recently launched on several global crypto exchanges, Ripple plans to integrate RLUSD into its payments business next year. This move aims to streamline international transactions for its partner banks and institutional clients.
DTX Exchange Achieves Another Milestone After $10 Million Presale
DTX Exchange (DTX), the leading emerging DeFi trading platform, is consistently achieving milestone after milestone. Last week, DTX Exchange became the biggest ICO of 2024, with massive demand in presale, achieving the $10 million mark. On Thursday, it created another milestone with DTX Phoenix Wallet, crossing 300,000 wallets. This scalability and rapidly growing user base demonstrates the high demand for the coin.
DTX Exchange is one of the biggest innovations in the crypto world because of its hybrid platform and 100,000 TPS, which could revolutionize trading paradigms. SolidProof, one of the best audit firms, has inspected DTX Exchange for quality standards and security measures, increasing the platform’s credibility and investors’ confidence.
In the sixth stage, one DTX costs just $0.12, surging 500% from the initial price of $0.02. The listing price of the token is fixed at $0.20, which gives current investors a margin of safety. The projected future price of $8 has the potential to generate significant wealth for investors.
Find out more information about DTX Exchange (DTX) by visiting the links below:
