XRP Regains Momentum, Prepares to Clear Key Resistance – Whales Opt for This New DeFi Token Over Cardano (ADA)
The crypto market exploded post-election as the Federal Reserve lowered the interest rate by 0.25% points in the second cut of 2024. Bitcoin (BTC) continues its price discovery, having surpassed $76,000 and top altcoins like Ripple (XRP) regain momentum.
Meanwhile, in the quest for significant gains, whales have been betting on DTX Exchange (DTX), a new DeFi token, over Cardano (ADA). This new cryptocurrency and low-cap gem has more upside potential than top crypto coins.
DTX Exchange (DTX): Whales Bet on New DeFi Coin
DTX Exchange (DTX) is a novel DeFi token boasting not only significant growth prospects but also solid fundamentals. Its innovative blend of TradFi and DeFi will make it a one-stop platform for trading diverse asset classes across stocks, ETFs, forex, commodities and cryptocurrencies.
Further, as a hybrid trading platform, it will combine the best elements of centralized and decentralized exchanges, making it a whale favorite. Some of its competitive advantages include wallet-based trading, an intuitive and user-friendly interface and non-custodial storage solutions, aiming to transform the $3.2 billion global trading market.
With the token already pre-listed on CoinMarketCap, it is among the best cryptos to invest in. It has more room for growth than popular cryptocurrencies like Ripple (XRP) and Cardano (ADA) as an emerging token. Meanwhile, the presale is in the fourth round and over $7 million has been raised, with a token priced at $0.08. Tipped for a 65x jump in value after its debut, it is one of the new DeFi projects to watch out for.
Ripple (XRP): Targets Further Upswings
Ripple (XRP) is one of the top altcoins, making headlines for good reasons this time around. Despite its long-drawn legal sparring with the US SEC, recent price actions are something to be excited about, reflecting broader bullish trends.
The XRP price soared over 8% in the past 7 days, changing hands above $0.55. Preparing to clear $0.64, a key resistance level, it is one of the altcoins to watch out for. As it consolidates within a symmetrical triangle formation on a higher timeframe, a breakout might open a pathway toward $1.4.
Meanwhile, a crypto analyst’s (XRP) outlook after a legal victory against the SEC or upon achieving mass adoption is a rally to $10 or $50. Technical indicators like the MACD level (12, 26), at−0.00422, also support an uptrend, positioning it as one of the best coins to invest in.
Cardano (ADA): Eyes a Breakout Above $0.52
Cardano (ADA) also trades upward, moving alongside the broader crypto market. The DeFi platform houses cutting-edge decentralized applications (dApps), contributing to its adoption and ascent.
Like the overall crypto market, the Cardano price is in the green. It jumped by over 16% on the weekly chart, hitting $0.4. Its performance in the daily timeframe is equally impressive—a 10% rally. A crypto analyst predicts an upswing to $0.52 after breaking out of a consolidation formation.
Moreover, considering a potential rally to the 2021 all-time high of $3.1, Cardano (ADA) might be one of the best coins to invest in. The 80% decline from its ATH might be a huge discount. Key indicators like the exponential moving average (10) and the simple moving average (10), at 0.356 and 0.352, respectively, are bullish signals.
What Next for Ripple (XRP), Cardano (ADA) and DTX Exchange (DTX)?
The wider crypto market swinging high has pushed the prices of Ripple (XRP) and Cardano (ADA) upward. Further gains are anticipated as a full-blown bull market approaches. Meanwhile, as a new altcoin and a hybrid trading platform, DTX Exchange (DTX) is poised for massive growth and adoption.
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