Altcoins

XRP Market Cap Explodes By 23% As Whale Appetite Soars

Published

2 months ago

August 10, 2024

The show’s star today is XRP as in the last 24 hours its market value has risen by 23%. The crypto space is buzzing as we speak, and this makes altcoin owners so upbeat.

XRP Shows The Way

XRP is exploding in price given how it controls the rough waves of the crypto market. Now everyone is focused on XRP as it gets ready for what might be a turning moment in its path. This is true since the market shows good vitality in general.

People are talking about the coin all over social media since its market value has skyrocketed. According to a fresh Santiment analysis, there are an all-time high (ATH) of 7.06 billion coins, or $4.42 billion, worth of addresses on the XRP Ledger owning between 1 million and 10 million XRP.

📈 XRP’s market cap has skyrocketed once again, growing by +23% in the past 24 hours. Wallets holding between 1M-10M coins on the XRP Ledger now hold an all-time high 7.06B coins ($4.42B), and the project’s social media discussions are at their highest levels since January. pic.twitter.com/QjEzIZGQAJ
— Santiment (@santimentfeed) August 7, 2024

Many large token holders, as a result of the altcoin’s strong performance, would now want to hold on to their tokens instead of selling them. XRP is attracting more and more people; the busy market of the coin indicates that more breakouts could be in the offing.

Upbeat Investor Mood

Social media buzz at levels not seen since January has also obviously affected the view of XRP. Not only casual onlookers but many investors are also keen to know why XRP value has lately shifted. In XRP’s case, the growing social mood seems to be a mirror of the rising confidence in the future possibilities of the coin; normally, it is a prediction of increased market activity.

Rising market cap combined with growing social participation is a powerful combination that market observers believe could push XRP to previously unheard-of heights.

XRP is currently trading at $0.58. Chart: TradingView

According to present patterns, major holders are expecting a possible rise. Usually occurring before a more general market accumulation phase, this accumulation by “whales,” is seen as a positive portent.

Technical Indicators

Based on data by CoinCheckup, increasing investor confidence and a better general market mood is seen to lift XRP’s price by about 23.79% in the next three months. Given a forecast of 179.39% rise over the next six months, the mid-term picture is far more optimistic. Positive macroeconomic conditions or changes inside the Ripple ecosystem could lead to such a breakthrough.

Long-Term Prospects

XRP still draws a lot of attention, hence the one-year projection stays rather positive. XRP could be set for continuous success with a projected increase of 101.73%. One should take the natural market volatility of cryptocurrencies into account even if the technical signals point to a bright future. As they handle the possible ups and downs of this fast shifting environment, investors should be vigilant and informed.

Featured image from Sci.News, chart from TradingView

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Altcoins

Trader Predicts Record High for Real-World Asset (RWA) Token, Updates Outlook on Solana, Fantom and dogwifhat

Published

13 hours ago

September 27, 2024

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A widely followed trader is leaning bullish on a mid-cap Real World Asset (RWA) token while offering his insight on three other altcoins.

The trader pseudonymously known as Sherpa tells his 223,600 followers on the social media platform X that the native token of the RWA blockchain MANTRA (OM) could go up by around 16% from the current level to hit a new all-time high.

“Still one of the better RWA options out there and has high float/less supply overhang and lots of financial backing behind it.”

OM is trading at $1.22 time of writing.

Next up is Solana (SOL). The pseudonymous analyst says that despite Solana proving to be a “slow mover” over the recent past after being outperformed by competitors such as Sui (SUI), he is still leaning bullish on it.

“I still think SOL is a good bet though.”

Solana is trading at $153 at time of writing.

Next up is the native token of the layer-one blockchain Fantom (FTM). According to Sherpa, Fantom has a bullish market structure and “still looks really good on higher time frames.” The pseudonymous analyst further says that the upcoming rebrand and upgrading of Fantom to Sonic (S) scheduled for November/December this year bolsters his bullish thesis for the altcoin.

“…this goes higher within the next few weeks.”

Next up is the dog-themed memecoin dogwifhat (WIF). Sherpa says that WIF “looks pretty strong overall” and would present a potential long opportunity on pullbacks.

WIF is trading at $2.22 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

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Altcoins

Top Analyst Says Ethereum Rival Coming in Hot, Sees Altcoin Mirroring Sui’s Explosive Rally

Published

2 days ago

September 26, 2024

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A crypto strategist closely followed for well-timed altcoin predictions thinks one Ethereum (ETH) challenger is ripe to ignite big upside bursts.

Pseudonymous analyst Bluntz tells his 275,500 followers on the social media platform X that Near (NEAR) has taken out the diagonal resistance of a falling wedge pattern on the three-day chart.

A falling wedge structure is viewed as a bullish reversal signal as it suggests that buyers are stepping in to decrease the rate of an asset’s price decline.

Says Bluntz,

“Three-day candle about to close and NEAR has a beautiful trend break now.”

Zooming in, Bluntz says NEAR appears to be following in the footsteps of fellow layer-1 protocol Sui (SUI), an altcoin that has printed gains of about 120% this month.

“NEAR finally coming in hot with a channel breakout.

In environments like these, they usually indicate a huge breakout move is underway.”

At time of writing, NEAR is worth $5.38, up over 5% in the past day.

The trader is also bullish on the Solana (SOL)-based memecoin dogwifhat (WIF). The analyst shares a chart suggesting that WIF has broken above a multi-month resistance level.

“Strap in, are you ready for round 2?”

At time of writing, WIF is trading for $2.01, well above its diagonal resistance.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Elena Abrazhevich/INelson

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Altcoins

Celestia (TIA) Skyrockets After Foundation Announces $100,000,000 Fundraise

Published

3 days ago

September 25, 2024

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Layer-1 modular blockchain Celestia (TIA) is soaring after the project’s foundation raised $100,000,000 to support the ecosystem.

According to the Celestia Foundation, the nonprofit group set up to support the TIA network, the $100 million fundraising was led by Bain Capital Crypto.

Other groups contributing to the funding included Syncracy Capital, 1kx, Robot Ventures and Placeholder.

TIA was trading for a low of $5.44 to a high of $6.86 on the day of the announcement, a more than 26% gain.

At time of writing, TIA is trading for $6.61. With a current market cap of $1.4 billion, TIA is the 64th largest crypto project.

According to the project, developers are working to “scale to 1 gigabyte blocks, bringing a massive increase in data throughput to Celestia’s rollup ecosystem.”

“In a previous era, the throughput of Visa (~24,000 TPS) was considered an impressive North Star. With 1 gigabyte blocks, Celestia is tracking to deliver the capacity of many Visa networks in parallel.”

Says Mustafa Al-Bassam, co-founder of Celestia and chairman of the Celestia Foundation,

“When Celestia launched last year as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era. Now, the core developers have introduced the technical roadmap to scale blockspace to the fiber optic era – while keeping it verifiable and low latency.”

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