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5 Crypto Coins to Watch as Ripple’s CEO Unveils XRP Future

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The XRP price is trading at $0.52, showing an intraday gain of 0.9%. This resilience amid the broader market correction may be attributed to Ripple’s recent developments to enhance programmability on the XRP Ledger (XRPL), expanding smart contract capabilities. However, if XRP price reversal fails, the top coins to watch are Stellar (XLM), Solana (SOL), Cardano (DOGE), Avalanche (AVAX), Plokdaot (DOT)

Cryptos to Watch Amid Ripple’s XRP Future Plans Reveal

Earlier this month, Ripple shared some new insights on the protocol plans to enhance programmability on the XRP Ledger (XRPL). These improvements aim to expand the platform’s smart contract capabilities, allowing developers to build a wider array of decentralized applications (dApps) directly on XRPL. 

With the integration of Hooks and sidechains, developers can customize transaction logic and create tailored solutions while maintaining XRP’s high efficiency and low cost. These updates further position XRPL as a powerful tool for DeFi, NFTs, and other use cases, fostering a more versatile and scalable ecosystem.

Stellar (XLM)

Stellar (XLM) leads our top coins to watch as it is the closest competitor to XRP’s goal for a cross-border payment system. The recent update from Brad Garlinhouse indicates Ripple’s dominance in this niche, which impacts Stellar’s user activity.

According to Coinglass data, XLM’s open interest has showcased a sluggish downward trend since late July, settling at $27.4 million. This consolation indicates less interest from market participants in opening new positions, which, if prolonged, creates a negative sentiment.

XRP rival - Staller (XLM) XRP rival - Staller (XLM)
XLM Futures Open Interest

By the press time, the stellar price prediction shows a current trading price of $0.088, while the market cap holds at $2.6 Billion.

Solana (SOL)

Among the coins to watch, Solana holds its position firmly due to its low transition fees and speed. By press time, the SOL price had traded at $127, while the market was stable at $59.7 billion.

The asset has recently faced a notable correction to $120 following the vampire attack from Tron’s Sunpump platform. As the SOL price stabilized from mounting selling pressure, the network witnessed a sudden spike in new addresses, reaching its peak at 2.81 million, according to the block.

The growth indicates the rising user base and engagement in the Solana network, a core signal to drive natural demand for SOL. For a detailed analysis, check out our top crypto to buy.

Cardano (ADA)

Cardano (ADA) stands for a key player in decentralized applications and sustainability. Its native cryptocurrency, ADA, currently trades at $0.32, while the market cap boosts to $11.7 Billion. 

According to Santiment data, the 30-day MVRV (Market Value to Realized Value) ratio stands at -5.83, indicating that short-term traders are in a loss position. MVRV ratio measures if an asset is overvalued or undervalued by comparing its current market cap to the price holders paid. 

Cardano (ADA) Cardano (ADA)
Cardano (ADA) MVRV Ratio | Santiment

A negative MVRV value often suggests a heightened risk of panic selling, which can extend market corrections. However, such conditions historically signal a potential recovery, as the exit of speculative traders tends to attract long-term investors looking for value. 

Avalanche (AVAX) 

The layer-1 cryptocurrency Avalanche (AVAX) showcased a V-top reversal from $28 to $21.7 within two weeks, accounting for a 22% loss. Consecutively, the market cap plunged to $11.7.

Despite an active correction trend, the total address with AVAX balance records continue to grow to hit 8.8 Million addresses, according to Intotheblock analytics recently.

AVAX Total Addresses | IntotheblockAVAX Total Addresses | Intotheblock
AVAX Total Addresses | Intotheblock

This on-chain growth indicates a growing user base and market participation for the AVAX protocol. With sustained buying, the Avalanche price prediction could target a tally past 25.

Polkadot (DOT)

Polkadot (DOT) is a multi-chain blockchain platform that enables different blockchains to interoperate. Under the influence of a downsloping trendline, the DOT price witnessed a steady downfall from $11.8 to $4.08— a 65% decrease in the past six months.

Coin to WatchCoin to Watch
DOT Futures Open Interest | Coinglass

Among other coins to watch, DOT shows Open interest from $387.5 Million to $183 Million, accounting for a 52% drop. The decreasing OI highlights market participants’ disinterest in asset trading, often leading to a prolonged correction.

Frequently Asked Questions (FAQs)

Key coins to watch include Stellar (XLM), Solana (SOL), Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT).

Solana’s price stability is supported by a growing user base, with new addresses peaking at 2.81 million, indicating rising demand for SOL

Cardano’s 30-day MVRV ratio stands at -5.83, indicating short-term traders are at a loss,

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Avalanche Price Eyes $70 Amid Explosive Market Surge

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Following the bullish momentum sweeping the crypto market, Avalanche price is setting its sights on a potential $70 target. The digital asset has gained traction, showing promising signs of a breakout as market enthusiasm grows. Recent price movements suggest a strong upward trend, propelling AVAX into the ranks of the top ten cryptocurrencies. With increased market activity and renewed investor confidence, the token appears poised for a significant price surge in the coming days.

Avalanche Price Gears Up for $70 During Rapid Market Rally

The price of Avalanche experienced a significant surge in November, marking an impressive 100% increase. This rally enabled the cryptocurrency to break a long-standing resistance trendline, propelling its value toward the $70 range.

As of now, the AVAX price is trading at $48.09, reflecting a 10% increase in the past 24 hours. Its market capitalization has also surged, reaching $19.74 billion, securing its position as the 10th-largest cryptocurrency on CoinMarketCap. This price jump coincides with broader market movements, as several top cryptocurrencies recorded gains despite minor market corrections.

If AVAX maintains its momentum, it could continue to climb, with little resistance ahead. A breakout from current levels might accelerate its upward trajectory. AVAX price prediction indicate that the price could hit the $55 mark in the short term, with a potential to reach $70 by the end of December.

Over the past week, AVAX has already gained 9%, reinforcing its upward trend. Investors and market participants are closely watching the coin’s performance as it navigates through key levels of resistance in a bullish market environment.

As of the 4-hour indicators for the Avalanche price shows promising upward momentum. The Relative Strength Index (RSI) stands at 64. This figure suggests the asset is approaching overbought territory but still holds room for potential upward movement. 

The Moving Average Convergence Divergence (MACD) indicator remains bullish crossover, with the MACD line trending above the signal line. This alignment highlights continued buying pressure in the market.

Avalanche Price Eyes $70 Amid Explosive Market SurgeAvalanche Price Eyes $70 Amid Explosive Market Surge
Avalanche Price Chart By TradingView

Avalanche CEO Engages Trump Administration

Avalanche’s CEO disclosed ongoing discussions between Ava Labs and Donald Trump’s administration. Energized by these revelations, the Avalanche community highlights the growing intersection between blockchain technology and U.S. governmental strategies, sparking widespread attention and market activity. This news has stirred anticipation within the crypto market: Will this lead to a $70 mark surge? 

In summary, the Avalanche price rally reflects strong market momentum and strategic advancements. With bullish indicators and growing adoption, AVAX shows significant upward potential. Investors anticipate further gains as market enthusiasm and ongoing government discussions boost confidence in Avalanche’s trajectory toward the $70 target.

Frequently Asked Questions (FAQs)

Yes, Avalanche (AVAX) has the potential to hit $70 if the bullish momentum continues

Investors are optimistic, closely monitoring key levels and anticipating further gains.

Breaking the $55 level could accelerate the climb toward $70.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Avalanche and Trump Administration Talks: Will AVAX Price Rally?

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In a bid to boost optimism, the Avalanche community recently revealed that it commenced talks with the upcoming U.S. administration, sparking market discussions globally. Ava Labs CEO Emin Gün Sirer unveiled on Monday that Ava Labs is in talks with the Trump administration. In turn, crypto enthusiasts anticipate a bullish impact on AVAX price ahead, with a potential $50 target looming over the horizon.

Avalanche Commences Talks With Upcoming US Administration Igniting Optimism

AVA Labs CEO has taken the stage to address the broader crypto community’s concerns surrounding the firm’s talks with the U.S. administration. On December 2, Emin revealed that Avalanche is in discussions with the incoming United States administration, indicating the firm’s efforts to bring a revolutionary measure in light of pro-crypto Donald Trump’s win.

“You will not see us parade our political connections in social media. You’ll just suddenly see results, in total Avalanche fashion,” the CEO stated in his X post. This statement has simultaneously echoed a market frenzy surrounding the native crypto AVAX’s price.

Avalanche (Ava Labs CEO)

In another similar chronicle, XRP has emerged as the talk of the crypto town, after Ripple CEO said that the firm is in talks with the Trump administration. XRP price rallies against the backdrop of legal maneuvers in Ripple’s favor and speculations that CEO Brad Garlinghouse will be the top pick for the rumored “Crypto Czar” position under Trump’s administration. This chronicle has, in turn, set off optimistic waves surrounding AVAX.

AVAX Price To Rally?

Aligning with the optimistic event mentioned above, AVAX price soared roughly 5% over the past day and is sitting at $47.17. The coin’s 24-hour low and high were $43.91 and $48.98, respectively. Notably, the recent upside movement falls in line with the Avalanche community commencing talks with the incoming U.S. administration, Donald Trump’s. Also, the crypto’s 24-hour trading volume soared 151% to $1.83 billion. Market enthusiasts are extensively eyeing the coin for further gains, given Trump is set to resume his role the next year.

It’s also noteworthy that a recent AVAX price analysis by CoinGape Media rolled out a potential $50 price target looming for the crypto. This bullish anticipation rides the back of the recent Avalanche9000 testnet upgrade. Overall, recent market events have painted a highly bullish scenario for the Ava Labs-backed token’s long-term prospects.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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AVAX Price Shoots 10% As Avalanche Foundation Announces Token Repurchase from Luna

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The AVAX price has surged by a staggering 10% in the last few hours after the recent announcement by the Avalanche Foundation of a repurchase agreement with the Luna Foundation Guard (LFG) – the entity associated with Terra blockchain – to buy back all tokens sold back in 2022. This has pushed AVAX closer to $30 taking its market cap above $11.5 billion.

Avalanche Agreement With Luna Foundation

As per the latest announcement, the Avalanche Foundation has reached an agreement to repurchase all AVAX tokens sold to the Luna Foundation Guard (LFG) in April 2022. However, the deal is currently pending approval from the Bankruptcy court. The announcement has led to huge bullish momentum for the AVAX price as bulls rush to fill their bags beforehand.

Ahead of its bankruptcy back in the summer of 2022, LFG held a total of 1.97 million AVAX tokens worth a staggering $60 million. The Luna Foundation purchased AVAX as part of its reserves to boost the strength of its UST stablecoin.

This strategic decision from the Avalanche Foundation will prevent LFG from breaching the original agreement and restricting AVAX token usage. Besides, this move from Avalanche will protect the assets from the complexities of bankruptcy trustee liquidation. Earlier this year, LFG started moving its token following the Terraform Labs settlement with the US SEC.

Upon completion, the Avalanche Foundation will reclaim 1.97 million AVAX tokens, bolstering its capacity to foster growth and development within the Avalanche ecosystem.

AVAX Price Rally to Continue?

The repurchase of AVAX tokens has provided a major catalyst to the AVAX price bolstering confidence among investors. This massive purchase of 1.97 million tokens by Avalanche Foundation will significantly reduce the AVAX circulating supply thereby putting upward price pressure on the altcoin.

At press time, the Avalanche price is up 9.33% trading at $28.49. On the technical chart, the AVAX price is also forming a flawless breakout from the falling wedge pattern formation over the past few months.

Also, the Relative Strength Index (RSI) for AVAX stands at around 49.8 while the Moving Average Convergence Divergence (MACD) is positive at 0.19, signaling bullish momentum. Crypto analyst ‘Crypto Winkle’ hinted at further AVAX price surge if the bulls manage to break the crucial resistance past $30. Market analysts are already predicting the Avalanche price rally to $50.

Additionally, the Avalanche blockchain is turning out to be a preferred choice for traditional financial players to launch their products in the market. Earlier this week, Colombian neobank Littio shifted its base from the Ethereum to the Avalanche blockchain.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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