The XRP price is expected to rise sharply in the current trading session, with experts indicating a positive outlook for the XRP token as investors keenly await a decision on the Ripple spot approval. Amid the buzz over XRP’s potential price hike and the Ripple ETF approval, DTX Exchange is making headlines with a remarkable $13.2 million presale success. This hybrid exchange might overtake Cardano in market standing. Although ADA is also on an upward trajectory, DTX Exchange's market excitement gives it an edge over Cardano.
XRP Price Insights: Impact on Spot Ripple ETFs
On Saturday, XRP's price increased by 0.25%, partially offsetting Friday's 0.61% loss, closing at $3.1078. During the day, XRP traded within a narrow margin between $3.0772 and $3.1420 as investors anticipated updates regarding the SEC appeal. Meanwhile, the wider crypto market saw a 0.12% uptick, pushing the total market cap to $3.53 trillion.
The SEC's approach to the Ripple case was the main talking point on Saturday, January 25. On Thursday, January 23, the SEC conducted a closed meeting, likely addressing enforcement actions including the Ripple case and the eagerly awaited Ripple ETF approval.
The short-term trends for XRP's price are closely tied to the SEC's appeal tactics and the progress towards establishing a Ripple ETF market. If the appeal is dropped, XRP's price could surpass its all-time high of $3.5505. Should the SEC approve the pending spot Ripple ETF applications, Ripple might even break the $4 threshold. Conversely, if the appeal proceeds and the ETF applications are rejected, XRP's price could fall below $2.
ADA Price Forecast: Elliot Wave Indicates Cardano’s Rise to $2
The ADA price could be driven by an increase in developers on the Cardano network. According to Santiment data, Cardano ranked third in development activity over the past 30 days, following Internet Computer and Hedera Hashgraph.
This trend is also visible on DeFi Llama, where developers have made nearly 2,000 commits this month, a substantial rise from the 709 in December. This month's commits are the highest since August of the previous year. The number of core developers has also surged to 40, marking the highest point in almost three months.
Cardano boasts strong technical indicators on the weekly chart. Firstly, the ADA price established a triple-bottom chart pattern near the $0.215 level, a point it hasn't dipped below in the past three years. Its neckline was at $0.810, the highest swing in March 2024. Cardano surpassed this level last November and retested it, a common continuation signal.
Secondly, ADA's price has initiated an impulse wave as part of the Elliot Wave Pattern. The first phase peaked at $1.327, aligning with the 38.2% Fibonacci Retracement level. It is currently in the second wave, with the third wave, typically the longest, on the horizon. The third phase might propel it to $2, which aligns with the 61.8% retracement level. However, Cardano's market progress pales in comparison to DTX's rapid rise.
DTX Exchange (DTX) Experiences a 700% Price Increase During Presale
DTX Exchange (DTX) has emerged as a standout in its presale phase, potentially revolutionizing online trading. Early adopters of this crypto ICO are reaping a 700% profit. With the presale now in its eighth stage, further price increases are anticipated.
Interest in DTX Exchange is at an all-time high following the recent launch of its hybrid trading platform. This platform allows traders to access over 120,000 asset classes, including CFDs, FX, and cryptocurrencies. The platform's transaction speeds, as fast as 0.04 seconds, and the absence of KYC checks upon sign-up, have attracted over 300,000 users so far.
The native DTX token will power this platform and its ecosystem, which features the Phoenix Wallet—a new secure custody solution for cryptocurrencies, stocks, and more. By holding this altcoin, users can earn a share of the platform's trading fee revenue and additional benefits. Currently priced at $0.16, the DTX price is expected to rise to $0.20 upon its imminent listing on a Tier-1 crypto exchange like Uniswap, potentially making DTX one of the top-performing crypto coins this quarter.
Key Highlights
DTX Exchange is poised to overtake Cardano as the top investment during this bull market, while ADA's price faces challenges. The XRP price is anticipated to climb significantly post-Ripple ETF approval. Consequently, XRP's price increase and DTX's swift rise are the main topics of discussion in this session.
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