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Ripple Outperforms Bitcoin & Ethereum, Eyes 25% Rally

Published

3 months ago

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Ripple (XRP) price has shown incredible resilience over the past few weeks, outperforming the likes of Bitcoin (ETH) and Ethereum (ETH). This bullish outlook is unlikely to fade especially now that Bitcoin price has shown strength. Therefore, investors should expect the XRP price to trend higher on the daily time frame and catalyze a quick rally if it can overcome key levels.

XRP Price & News: Ripple Outshines Top Coins, Will Uptrend Continue?

  • XRP price has rallied nearly 26% in the past seven weeks, while Bitcoin price is down -4.75%. Ethereum, on the other hand, has shed -24.37% in the same period and is the worst performer in the bunch. The bullish outlook for XRP results from the SEC vs. Ripple lawsuit victory in the defendant’s favor. 
XRP Price vs Bitcoin price vs Ethereum price
XRP vs Bitcoin vs Ethereum price performance
  • While the above point is bullish, investors also need to consider that the stablecoin supply held on exchanges is climbing nonstop, according to Santiment data. This capital is likely to flow to the altcoins that have strong performance or show signs of potential reward. So, investors can expect XRP to be one of these cryptos. 

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Ripple Price Analysis: XRP Bulls Plan Their Next Move

XRP price recently bounced off the yearly Volume Weighted Average Price (VWAP) at $0.560, triggering a near-10% rally. But XRP, the remittance token, is still stuck between $0.556 and $0.626 daily resistance levels. Fortunately for Ripple bulls, the demand zone, extending from $0.550 to $0.584, is there to support any incoming pullbacks. 

Under neutral-to-bullish market conditions, a retest of this demand area will most likely be met with a buying pressure spike that could provide Ripple price with the momentum to overcome the $0.626 hurdle. Flipping this key resistance level will open the path for Ripple bulls to catalyze a rally to $0.716. The retest of the $0.716 hurdle would signal a 25% rally for the remittance token.

This level has been a critical blockade since August 2023 and has resulted in three rejections. So, investors must be careful around $0.716 and consider booking profits. 

XRP price 1-day chartXRP price 1-day chart
XRP price 1-day chart

On the other hand, if XRP price fails to overcome $0.626, it would signal a lack of buyer interest. Such a development could result in a retracement to $0.550 to $0.584 demand zone. A breakdown of this support area will invalidate the bullish thesis. 

This development could induce a 9% crash in XRP price to the yearly VWAP’s lower band at $0.501.

Frequently Asked Questions (FAQs)

XRP price has rallied nearly 26% in the past seven weeks, outperforming Bitcoin (-4.75%) and Ethereum (-24.37%).

XRP price needs to overcome the $0.626 daily resistance level to open the path for a rally to $0.716.

If XRP price fails to overcome $0.626, it may retract to the $0.550-$0.584 demand zone, and a breakdown of this support area could lead to a 9% crash to $0.501.

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Akash Girimath

Akash Girimath is an engineer at core, but is interested in the chaos of the financial markets. Akash is senior report and analyst who also trades cryptos on a regular basis and maintains a small crypto fund for friends and family.

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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Price analysis

TROY Price Surges 20%: What’s Fueling the Rally?

Published

10 hours ago

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November 9, 2024

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TROY price has surged significantly over the past 24 hours, capturing investor interest as it rides a strong uptrend. Over the last week, TROY has shown consecutive daily gains, reaching new highs in line with a broader crypto market rally. Investors closely monitor TROY’s performance, eager to see if this positive trend will continue amidst the larger cryptocurrency surge.

TROY Price Surges 20%: What’s Behind the Sudden Spike?

TROY price surged 20% in the past 24 hours, reaching $0.005307, boosting its market cap to over $45.77 million. This recent rally has captured attention, driven by the token’s new futures listings on major exchanges, including Bitget and Binance. These additions sparked a 100% jump in TROY’s price, significantly increasing investor interest.

Open interest in TROY futures climbed to a record $5 million, with most of the volume centralized on platforms like Binance, Bitget, and BingX. This figure marks a notable rise from last week’s low of $3.5 million, reflecting heightened demand following its listings on prominent exchanges, often fueling price momentum.

According to its whitepaper, TROY is a blockchain ecosystem featuring TROY Play, a marketplace for AI agents accessible through TROY ID. Users on this platform can integrate agents from networks such as AgentLayer’s AgentStudio and third-party applications. Other elements within the network include TROY DAO, which offers exclusive membership privileges like early access to AI agents, and TROY Trade, which is designed to support the growth of AI initiatives on the platform.

The recent announcement of a $10 million ecosystem fund has bolstered TROY’s development efforts. A strategic investment from Unicorn Verse, known for its involvement in projects like LeverFi and CoralApp, added to TROY’s upward momentum. Over the past month, TROY’s price has surged by 254%, underlining this AI and gaming-focused cryptocurrency’s strong market interest and future potential.

Will TROY Price Hit $0.01 Soon?

The Relative Strength Index (RSI) currently stands at 61.31, indicating moderate bullish momentum. RSI’s position above the midline shows an upward trend, though it remains below overbought levels. 

The Moving Average Convergence Divergence (MACD) indicator shows bullish sentiment with a recent crossover of the MACD line above the signal line. This positive movement, supported by green histogram bars, could signal upward momentum if sustained.

If the bullish trend for TROY continues, the token could potentially test its next resistance level at $0.008. A breakout beyond this point may lead to a rally towards the $0.01 mark.

TROY Price Surges 20%: What's Fueling the Rally?TROY Price Surges 20%: What's Fueling the Rally?
TROY Price Chart: TradingView

However, if bearish pressure intensifies, the price could retest the recent support level around $0.005.

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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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Hamster Kombat

Hamster Kombat Price Up 60%; Is $ Possible This Year?

Published

13 hours ago

on

November 9, 2024

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Hamster Kombat (HMSTR) price, a Telegram-based mini-game, has surged remarkably over the past 24 hours, positioning itself as today’s top market gainer. This recent rally sparks optimism among traders and analysts eyeing further upward movement. Market observers suggest that if momentum holds, HMSTR could see an additional increase, with the ambitious goal of reaching $1 before month’s end.

Following 60% Surge, Will Hamster Kombat Price Reach $ in 2024?

Hamster Kombat price has shown a remarkable recovery after a period of strong bearish pressure. Launched with a steep downtrend, the cryptocurrency now sees an encouraging bullish reversal on its daily chart. Currently priced at $0.004231, the token has surged by over 60% in the past 24 hours, showcasing renewed investor interest and potential for further growth.

The recent trend indicates a shift in market sentiment, with the price rebounding significantly from its all-time low of $0.002257 recorded just six days ago. Although it remains about 60% below its all-time high of $0.010004 from late September, the current momentum reflects optimistic expectations. 

Crypto prices today saw a surge. Bitcoin (BTC) maintained a trading session in the green at the $76K level. ETH price has seen a surge, hovering above $3000, indicating a bullish trend fueling the surge in price in other top altcoins like HMSTR

Analyst Eyes 70% Surge in HMSTR

Crypto analyst shared a notable observation on HMSTR, highlighting potential for a 70% price increase. The analysis revealed a possible breakout from a descending channel, sparking interest among traders. Volume patterns showed promising accumulation, indicating bullish momentum.

The analyst’s chart also highlighted areas of significant buying activity, signaling strong support. If momentum continues, HMSTR could potentially test higher levels, rewarding early investors.

The Relative Strength Index (RSI) stands at 88, indicating overbought conditions.  HMSTR Kombat’s price is set for a potential upswing if it breaks past the key resistance level of $0.005. Such a breakthrough could pave the way for an ambitious target price of $0.1, and if momentum continues, it may even reach $1, signaling a remarkable 23,000% surge.

Hamster Kombat Price Up 60%; Is $ Possible This Year?Hamster Kombat Price Up 60%; Is $ Possible This Year?
Hamster Kombat Price Chart: TradingView

Hamster Kombat price shows promising momentum with recent gains and strong investor interest. Breaking $0.005 could spark further growth. If momentum sustains, a rise to $0.1 or even $1 may be achievable, rewarding optimistic investors.

Frequently Asked Questions (FAQs)

Increased buying interest and market optimism boosted the price significantly.

HMSTR’s all-time high is $0.010004, achieved in late September.

Increased volume, bullish sentiment, and technical breakout signals drive optimism.

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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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ETH

Ethereum Price Breaks 90-Day Accumulation Amid Whales Sell-off; Is $4,000 Close?

Published

1 day ago

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November 8, 2024

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The crypto witnessed an accelerated bullish momentum following Donald Trump’s victory in in the 2024 presidential election. Bitcoin, the pioneer digital asset reached a new all time high, fueling a recovery in the altcoin market. Despite aggressive whale selling, the Ethereum price maintained its upward trajectory and breached the key resistance of the 6-months correction trend.

By press time, ETH price had traded at $2,931, with an intraday gain of 1.28%. According to Coingecko, the asset market cap holds at $351.2 with a 24-hour trading volume of $35.17 

Ethereum Price Defies Whale Sell-off as ETH Breaks Out of 90-Day Correction

In the past five months, the Ethereum price prediction witnessed a steady correction from $3,975 to $2,150, accounting for a 46% loss. An analysis of daily chat shows this retracement resonated strictly within the two covering trendlines of a falling wedge pattern. 

Generally, this pattern reflects a temporary correction in an established uptrend which allows buyers to recuperate the exhausted bullish momentum. Amid the September U.S. Fed rate cut, the ETH price downtrend shifted to accumulation sideways trend above $2,200 level.

Donald trump’s Victory in 2024 presidential election gave the necessary push to the renew crypto market recovery. Thus, the Ethereum price rallied from the $2,400 to $2,914— a 21.7% surge— in the last four days.

This recovery gave a decesve breakout from the resistance trendline of falling wedge pattern. If the breakout sustains, the buyers could drive a 40% surge to hit $4,000.

BITSTAMP:ETHUSD Chart Image by sahilmahadik07BITSTAMP:ETHUSD Chart Image by sahilmahadik07

ETH Holds Firm Amid Whale Profit-Taking

Along with key breakout, the ETH price recovery showcased higher strength as it defied the active selling pressure from whale. According to Lookonchain, a major crypto whale, holding 398,891 ETH valued at $1.14 billion, sold 29,897 ETH for $84.87 million USDC after recently rally.

The whale had initially acquired the ETH at an average cost of $3.50 per coin, turning the sale into a staggering 810x profit, equating to $84.7 million in realized gains. While large holders selling typically trigger market volatility and bolster a fresh correction trend, this whale still hold 368,992 $ETH ( worth approximately $1.07B).

His substantial holding indicate the whale still believe in ETH’s future growth.

On the contary note, the Ethereu, price could wintess a short pullback to retest the breached trendline. A breakdown below this flipped could prolong market correction.

Frequently Asked Questions (FAQs)

Yes, Ethereum could experience a short-term pullback to retest the breached trendline as support, particularly near the $2,800 level

Ethereum’s breakout was driven by the election-fueled crypto market rally following Donald Trump’s victory in the 2024 presidential election.

Despite active selling by whales, such as a major investor who sold 29,897 ETH for $84.87 million USDC, Ethereum’s price has maintained its upward momentum

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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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