Grayscale recently announced a new trust for SUI and XRP , which caused the price of XRP to surge. The news became a major catalyst for the asset’s rise as investors reacted favorably to the development.
If you want to know more about the crypto and get first-hand cutting-edge information, please visit Weibo Dolphin 1 for more good articles .
But bears quickly increased selling pressure amid this bullish momentum, leading to a sharp pullback that threatens to derail the rally. Despite the sellers’ quick reaction, XRP remains in a relatively favorable position. The asset appears to have strong upside potential, with prices still rising and retaining some of the gains from the Grayscale announcement. News Blog Dolphin Dolphin 1
XRP's current price levels suggest that there is still room for XRP to rise, even though selling pressure has dampened initial bullish enthusiasm. Given the overall context of the market, recent price action can be understood as part of a larger volatility pattern. The launch of the Grayscale Trust has given XRP the momentum it needs for a potential uptrend, with investors eagerly awaiting any breakout moments.
But the quick retreat of the bears highlights the fragility of the market and the importance of breaking through resistance levels to achieve long-term price gains. To achieve further gains, XRP must overcome the current selling pressure and break through important resistance levels. If the bulls can regain control, especially if the sentiment of the entire market remains positive, the asset price may rise.
Toncoin has big goals
The 200 EMA is currently a significant technical hurdle facing Toncoin. This level is crucial when determining the short-term direction of the asset. A successful break above the 200 EMA is a possible sign of the beginning of a recovery similar to the one that occurred in August when Toncoin broke above the 100 EMA.
Although the 200 EMA is currently a strong barrier for TON, a break above it could lead to further price gains. Traders and investors alike will be watching closely for confirmation of bullish momentum through continued price action. A sharp break above this barrier could force TON back into higher price territory and potentially retest the highs from earlier this year.
However, continued capital inflows are essential to sustain any potential breakout. Sustained capital inflows and buying pressure are necessary for TON to continue to rise. Without sufficient stable capital support, the breakout may turn into a false signal. This may lead to more consolidation or even a retracement to support levels.
Ethereum faces difficulties
Ethereum is having a tough time right now due to a clear lack of momentum in the market. Ethereum, the second-largest cryptocurrency by market cap, has struggled to gain traction despite its significant online presence and the efforts of its co-founder Vitalik Buterin.
The main reason for this decline is believed to be a bigger problem with the Ethereum network itself. Recent statistics show that Ethereum’s network activity has never been so low since the platform was launched. User engagement and transaction volume have dropped significantly, indicating a bigger crisis in the ecosystem.
This is particularly worrying at a time when many other well-known cryptocurrencies are recovering or at least showing stability. On the other hand, there are signs that alternative networks such as Solana and Telegram Open Network (TON) are expanding and increasing in usage. These newer networks are attractive alternatives to decentralized applications (dApps) and other blockchain-based solutions because they offer cheaper costs and faster transaction speeds.
If Ethereum fails to improve its poor performance and expensive gas prices, it risks losing market share to these more powerful competitors. Given Ethereum’s current situation, its market share could drop significantly as the larger cryptocurrency market struggles to recover.
The article ends here. Follow Weibo Dolphin Dolphin 1 for more good articles. If you want to know more about the relevant knowledge of the crypto and first-hand cutting-edge information, please consult me. We have the most professional communication community, publishing market analysis and high-quality potential currency recommendations every day. There is no threshold to join the group, and everyone is welcome to communicate together!
