XRP, Litecoin (LTC), and Stellar (XLM) Lead the Way in Crypto Market Bounceback
XRP, Litecoin (LTC), and Stellar (XLM) show signs of potential recovery despite the cryptocurrency market decline, according to data from Santiment.
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Posted 8/21/2023, 6:25:26 AM
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Major cryptocurrencies, including Bitcoin, Ethereum, and XRP, experienced a price crash following concerns about the Federal Reserve and the delay of a spot Bitcoin ETF decision by the SEC, sparking anticipation for upcoming ETF decisions by BlackRock and other asset managers.
Despite a recent crash, Ripple's largest token holders are accumulating massive amounts of XRP in anticipation of a potential bull market and the outcome of the SEC case.
XRP rallied on Sunday, avoiding dropping below $0.50 for the second consecutive day, while Ripple has until September 1 to respond to the SEC filing and the SEC has until September 8 to address any response. Capitol Hill is being watched for potential developments in US crypto regulation.
Stellar (XLM) experienced a promising rebound along with other altcoins, but the gains were short-lived as XLM's fortunes quickly reversed, resulting in significant losses and uncertainty regarding its future trajectory.
The global digital assets market, including cryptocurrencies like XRP, is projected to account for up to 10% of all assets by 2030, potentially reaching a valuation of over $14.5 trillion, driven by factors such as the growing adoption of cryptocurrencies, stablecoins, and central bank digital currencies, as well as regulatory certainty and institutional investor interest. Pro-XRP analysts suggest that XRP could become the next big thing in the financial market, with the potential for significant returns, especially considering Ripple's efforts to expand its use cases and accommodate tokenized assets.
The cryptocurrency market has experienced a notable downturn, with the total market capitalization falling by 10% and triggering significant liquidations on futures contracts, attributed to factors such as rising interest rates, inflation, delays in approving a Bitcoin exchange-traded fund (ETF), financial difficulties within the Digital Currency Group (DCG), regulatory tightening, and a strengthening US dollar.
XRP, one of the largest tokens by market cap, has lost a significant amount of value due to bearish sentiment in the market and the impact of Ripple Labs' court ruling with the SEC, reversing its gains from earlier this year.
XRP is approaching its third bullish golden cross in history, which could lead to significant price surges, according to popular analyst Egrag Crypto.
During the summer crash of 2023, the top 3 cryptocurrencies with big potential are Ripple XRP, Cardano ADA, and Shiba Inu SHIB.
The cryptocurrency market is preparing for a potential larger financial event in September that could significantly impact Bitcoin, Ethereum, XRP, and the wider digital asset landscape.
XRP price has experienced a decline due to market-wide downturn, but is expected to recover to $0.60 in the next few weeks and potentially reach $0.80 by the end of the year according to XRP price predictions.
XRP20, the yield-bearing 'XRP on Ethereum' coin, is benefiting from rumors of a potential listing on Robinhood, following its successful trading debut on Uniswap, with 23 billion tokens staked and locked liquidity of 71% for one month, making it an ideal buy setup for potential gains.
XRP's trade volume has surged on top crypto exchanges, despite its recent decline in price, while other altcoins are struggling to reach their yearly high trade volumes.
The price of XRP is declining as investors sell off their holdings, with a significant whale transferring 29 million XRP to a crypto exchange, possibly indicating a sale of their assets.
The recent downturn in the cryptocurrency market has led to the liquidation of long positions and a decrease in market capitalization, but five undervalued cryptocurrencies trading below $0.1, including VeChain (VET), SNM (SONM), MVL (MVL), Dogecoin (DOGE), and Hedera (HBAR), have the potential for a rebound in the future.
XRP community figure anticipates a yearly surge for XRP, drawing parallels to Bitcoin's price movements and expecting a breakout in 2024 or 2025.
Summary: Bitcoin and several altcoins, including XRP, Litecoin, and Shiba Inu, are experiencing a decline in prices, leading to concern among investors, while AI-based tokens like InQubeta and Borroe offer potential investment opportunities in the crypto market.
Altcoins in the top 100 are struggling to recover, but three undervalued cryptocurrencies (AUCTION, LINA, and SRM) offer traders a buying opportunity, according to on-chain analysts at Santiment.
The XRP price is currently in a bearish trend, with a potential downward breakout from the bearish pennant pattern leading to a further decline in price; however, a bullish breakout above the upper trendline could trigger a significant rally.
Following Bitcoin's recent price fluctuations and failure to meet short-term bullish expectations, the altcoin market is expected to have a substantial recovery rally in the coming week, with Ethereum, Litecoin, and Shiba Inu potentially leading the way.
Crypto expert Ben Armstrong recommends XRP, Chainlink, and Dogecoin as the top cryptos with potential for significant growth in the market.
Bitcoin (BTC) price remains stagnant and could potentially slide lower, while Ethereum (ETH) and Ripple (XRP) prices are also experiencing a lack of activity, which may have negative implications as markets tend to be impatient.
XRP emerges as the most traded asset on top South Korean cryptocurrency exchanges, indicating sustained interest in the fifth-largest cryptocurrency by market capitalization.
XRP is experiencing a significant increase in on-chain volume and development activity, while Bitcoin's recent dip is attributed to fear, doubt, and uncertainty surrounding the potential rejection of spot market BTC exchange-traded fund applications, according to Santiment.
XRP speculators have increased capital inflows in anticipation of a potential price trend reversal, with both the derivatives markets and whale investors showing optimism for a bullish reversal above the $0.55 resistance.
Stellar's token, XLM, experienced an 11.5% increase in value after testing its lowest point in eight weeks, with a potential partnership and a forthcoming announcement fueling speculation about rebranding and a shift towards real-world assets. However, rumors of Elon Musk's involvement and XLM's current market capitalization position it below the top 20 contenders, though Stellar's deployment of the Soroban smart contract platform suggests its intentions to compete in the decentralized application market. The announcement on September 12 holds the potential for further gains, but concrete evidence is needed to surpass previous price levels.
Major cryptocurrencies experienced a decline due to concerns over the potential selling pressure from FTX's bankruptcy, as the exchange seeks regulatory approval to liquidate $3.4 billion in crypto assets.
The Stellar (XLM) price has broken out from a descending resistance line, but its ability to reclaim the $0.13 level will determine the future trend, with both weekly and daily timeframes suggesting a bullish outlook.
Cryptocurrency prices experienced a sharp drop and rebound, leading to $256 million in liquidation losses over the past two days, as traders faced a wave of leveraged position closures due to market fears and sudden price swings.
The growing number of long-term holders and the increasing buying activity of Litecoin whales could potentially trigger a price rebound for Litecoin (LTC) despite the recent drop below $60, as shown by on-chain data trends and market analysis.
XRP and Solana, despite experiencing significant losses over the past 30 days, are showing potential for a comeback due to important catalysts such as court rulings and partnership agreements with major institutions. Both cryptocurrencies have strong underlying value and growth prospects, making them bullish investments.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.