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DTX Exchange captures market attention with the grand ‘Phoenix Wallet’ launch. Ripple and Dogecoin show signs of a potential rebound.
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Ripple (XRP) is currently in a recovery phase amid its reopened lawsuit with the SEC. However, Dogecoin (DOGE) is on the rise with a potential rally in the near term. Leading the status quo, DTX Exchange (DTX) is pulling investors with its skyrocketing presale rally and the brand new Phoenix Wallet launch that made headlines within hours of hitting the market.
Dogecoin technical indicator turns bullish
In a recent Dogecoin analysis, memecoin analyst Ali noted a bullish development on the chart. The TD Sequential indicator flashed a buy signal on the 4-hour chart, indicating potential bullish momentum for Dogecoin. According to Ali, if Dogecoin maintains its position above the $0.14 critical support level, it might rebound to $0.16.
Ali’s chart analysis showed that the TD Sequential printed a ‘9’ green buy signal. This pattern is typically seen as a strong indicator that an ongoing downtrend might be ending soon. The “9” signal usually suggests a prime buying opportunity, as the price may be poised for an upward correction. As of today, Dogecoin is trading at $0.15, with a 6.4% surge in a single day.
During the Dogecoin analysis, the altcoin was trading at nearly $0.14 within this 4-hour timeframe. Ali was looking forward to a close above the $0.14 support level. He stated that maintaining this level is vitally important for a potential rebound. Notably, the price recently managed to close above the $0.14 level, finishing at $0.15 at the time of writing.
Lawyer reveals how Ripple uses escrow to secure XRP value
Renowned crypto analyst Bill Morgan recently shared how Ripple uses escrow accounts for XRP coin holdings. He broke down key considerations from the ongoing SEC lawsuit against Ripple, community perceptions, and Ripple’s overall narrative around escrow. At the time of writing, Ripple is trading at $0.51 with a 2.19% price surge in the last 24 hours.
Amid its conflict with Ripple, the SEC argues that Ripple’s escrow deploys different techniques to stabilize or dictate XRP’s price. Specifically, the escrow reserve periodically releases fixed amounts of Ripple on a monthly schedule. This structured discharge ensures the network doesn’t face sudden flooding, which could cause volatility.
However, the SEC affirms that this approach sustains XRP’s value by administering available supply levels in the market moment-to-moment. Alternatively, some Ripple supporters believe escrow constraints price appreciation. Their logic is that regular escrow distributions enlarge the overall circulating Ripple, exerting downward pressure through dilution.
DTX Exchange’s presale leads Dogecoin and Ripple
As Dogecoin eyes a potential bullish rally and Ripple attempts to dismiss its dispute with the SEC, DTX Exchange is making it big on the other side of the market. This new deFi entrant has challenged crypto giants Ripple and Dogecoin after its resounding success, which earned a listing on CoinMarketCap.
This increasing demand among crypto investors has ranked DTX Exchange among the top-tier crypto assets in a short span of time and has stolen the hype and attention from renowned cryptocurrency projects following its success. DTX Exchange’s presale success has garnered a whopping $6.6 million so far, only a few days before it completes the current phase.
DTX Exchange’s Phoenix Wallet launch becomes a success
DTX Exchange’s recent grand announcement, which launched ‘Phoenix Wallet’ for its holders, has made headlines after its massive success. The Phoenix wallet enables traders and investors to seamlessly pay, borrow, and send crypto with the most secure web3 custody solution.
Its beta version is already available for download on DTX Exchange’s website. The app will be released on Google Play and App Store soon. As Ripple and Dogecoin show strong signs of competing with DTX Exchange, it is poised to lead the market sentiment with its mind-blowing presale success and premium trading options for traders.
To learn more DTX, visit the presale website, the official DTX website and join the DTX community.
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This article first appeared at crypto.news
