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As Bitcoin holds above $64k after the Fed rate cut, investors are shifting focus to DTX Exchange, while Ripple and Cardano struggle to break out.
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The Fed rate cut has given the crypto market good momentum, with Bitcoin holding above $64,000. Despite this strength in the broader market, Ripple (XRP) has not been able to emerge from the consolidation. This lack of strength in Ripple price has led investors to diversify their portfolio into new opportunities.
Meanwhile, Cardano (ADA) investors who made millions from the 2023 Cardano rally are venturing into the first-ever hybrid exchange, DTX Exchange (DTX), which is working toward bringing centralized and decentralized features together in one place.
$0.6 level major resistance for Ripple
In the last 30 days, XRP has been trading at a negative 2.62%, which clearly shows the lack of urgency in buying. Ripple has been following the major descending trendline for a long time and has been rejected from the same twice before. Bulls must break this crucial trendline for a fresh rally in Ripple, which coincides with the $0.6 – $0.7 resistance zone.
Ripple is currently above the 50-period moving average. However, the slopes of all the short-term moving averages are near flat. If Ripple’s price fails to sustain the current levels, it could fall to the $0.53 level.
Cardano traders shift to new exchange amid correction in price
Cardano is also showing a similar price action to Ripple. In the last month, Cardano has decreased by around 8%, trading in green in the weekly timeframe. After the start of a downtrend, Cardano has decreased 56%, bringing the price from $0.81 to the current level of $0.35.
This continuous downtrend for the last six months has made investors anxious and made them look for other opportunities. Last week, Three Cardano whales took a position in DTX Exchange, which is about to launch in November. According to the whales, the DTX Exchange holds immense value as it is highly undervalued at the current levels.
DTX Exchange gains 200% under two weeks
Before its official launch, DTX Exchange had already gained attention from investors, supporters, and enthusiasts. The platform aims to transform traditional exchange systems by using decentralized technologies.
The DTX Exchange is a pioneer in transparent operations, offering support for multiple assets and ensuring faster transactions. Crypto communities from established networks are re-evaluating their investments in popular altcoins and choosing DTX instead due to its incredible properties.
DTX is a hybrid exchange that harmonizes financial regulations and industry-specific use cases. With AI systems, the trading process becomes easier, which draws users interested in automated trading, risk management tools, and analytics for deterministic analytics.
The hybrid DTX Exchange gathered an impressive $2.7 million in its third public presale round. The project is unique with a modern regulatory framework and decentralized security features like no-KYC and non-custodial wallets. The DTX token is currently priced at $0.06, 200% up from the first round; analysts have expected it to rise 1,200% before the mainnet launch.
To learn more about DTX, visit the official website and join the DTX community.
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This article first appeared at crypto.news
