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As the crypto market recovers from a $550M hit, SUI struggles with overbought conditions and XRP lingers below $0.52.
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While the crypto market still recovering from the $550M liquidity hit after the Stock market turned red on October 23, SUI was the most affected as its overbought conditions turned out to be a nightmare for it. Similarly, Ripple fights its legal battle with the SEC, and its native currency XRP dries below the $0.52 resistance level.
In this article, we’ll see how SUI is performing what potential it possesses to score a bullish comeback, and why Ripple whales are selling their tokens.
SUI records high outflows after whales taking profit bait
SUI Recorded bullish gains in Q3 and Q4 as its price surge started after Grayscale announced its Trust Fund. Moreover, its innovative and faster blockchain also experienced a high adoption rate, leading to bullish price momentum. However, the recent market slump has stained the promising $2 SUI rally as investors cash out profits in large volumes.
As its price falls below the $1.95 level, SUI displays a 7.7% drop on the weekly chart and shows charts with highly bearish sentiment. The 3% intraday decline with a 37% drop in volume also suggests that there is still time for SUI to display a strong comeback above $2. The short-term trades must be met cautiously until SUI displays a decisive price trend.
Ripple downfall continues after missing legal deadlines
The Ripple (XRP) price trend shows a dull future ahead after its legal battle with the SEC is expected to linger on. The Ripple team also missed a crucial deadline of October 18 to submit the necessary paperwork. While the deadline was extended to 14 more days, the XRP price still displays a bearish channel due to rising uncertainty and legal scrutiny.
Moreover, the election results and ETF delay can also fuel a bearish trend for XRP price momentum. Ripple investors are critically watching the trend of XRP price as it trades bearish below the $0.52 level. If this legal battle intensifies, Ripple can drop below the $0.45 level in the upcoming weeks, leading investors to explore other opportunities for higher returns.
DTX Exchange bursts with inflows after $5.9M presale run
DTX Exchange scores big in the 2024 presales as large stakeholders sight its unique and amazing trading platform with a hybrid model and industry-relevant features. The platform reinvests in the community’s growth with passive income strategies, a 3% VIP Rebate, and staying up-to-date with the changing technological landscape.
The platform’s powerful features and problem-solving approach, including surplus liquidity with no slippage and 1000x leverage feature has raised its batch 4 presale past $5.9 million. DTX Exchange’s decentralized security verification system, including KYC-free onboarding and non-custodial wallets also makes it a go-to platform for data-conscious users with complete access to their digital funds.
The DTX platform also offers access to 120k+ digital assets by merging stock and crypto pairs, including others like equities, commodities, and forex. As its presale demand goes unbounded, traders can buy DTX tokens at $0.08 in batch 4 as experts predict a moonshot rally to $2 after its official mainnet launch in Q4 this year, promising 100x gains for early bidders.
Key Takeaways
As SUI trends down amid a bearish market correction and Ripple faces prolonged legal battles with SEC, DTX Exchange emerges as a beacon of hope for bleeding crypto whales.
The intense demand for DTX Exchange’s presale underscores investor confidence in its potential for 100x gains post-mainnet launch. With whale momentum on its side, DTX Exchange is set to lead the charge for 100x investment opportunities this quarter.
For more information, visit the DTX Exchange presale website and join the online community.
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This article first appeared at crypto.news
