The crypto market is experiencing significant movements and intriguing opportunities. Tron (TRX) is near $0.33, while XRP faces a sharp drop.
Tron (TRX) and Whale Buys
Tron (TRX) remains around $0.33 despite signs of market slowdown. Whale wallets have purchased over 1.3 billion TRX, restoring some positive outlook for Tron. Traders are eyeing the price as it attempts to break out past $0.34. If momentum builds, it could set the stage for $0.40 and even $0.48. However, indicators such as the Money Flow Index show buying power is still lagging. Currently, the outlook depends on TRX maintaining stability above $0.32.
XRP Drops After Liquidations
XRP experienced a sharp drop this week as leveraged trades were liquidated in a swift move. The decline followed the closing of long positions which sent prices down nearly 3% in just one day. XRP dipped below support, hitting $2.80 before a minor bounce, only for the price to slide again by 4%. This drop occurred amid an extreme gap between long and short positions, with over $358 million liquidated from the market. Despite touching its 50-day EMA, indicators show that buyers have not yet returned in full.
Cold Wallet Project Statistics
Cold Wallet has garnered significant attention in the market, raising over $5.8 million in its presale, with prices jumping 34.5% since launch. Currently, Stage 17 is active, with prices reaching $0.00998. The project offers secure crypto storage and rewards users, making it one of the most talked-about initiatives at the moment.
The current crypto landscape is shaped by caution. While Tron holds at $0.33 with whale purchases, stronger price movements require a solid close, and momentum remains soft. XRP, on the other hand, has suffered from liquidations. Cold Wallet, despite the uncertainties, shows promising growth and has become a noteworthy project in the market.
