As the cryptocurrency market stands, Ethereum and XRP face significant challenges while the BlockDAG project makes strides toward a successful launch.
Barriers on Ethereum's Path to Breakthrough
Ethereum continues to struggle to overcome the $2,600 resistance zone. Analyst Michaël van de Poppe reported that Ethereum must break through this threshold to continue rising. Otherwise, ETH may face a short-term drop and test lower support levels.
Despite these challenges, the growing interest from institutional investors creates a positive environment. ETF reports indicate that Ethereum has attracted 56% more inflows than Bitcoin over the past month, reflecting increased trust from serious market players.
XRP's Prospects: Court and ETFs
XRP's price prospects depend on two main events: the Ripple versus SEC court case and the growing interest in ETFs. Judge Torres is expected to decide soon on Ripple's joint motion filed on June 12, which could open up sales of XRP and reduce penalties. Analysts believe there is a 70% chance of a favorable ruling, which could also end appeals.
Meanwhile, North America's first XRP-spot ETF by 3iQ on the Toronto Stock Exchange gained C$32 million in assets within three days, showing strong market interest.
BlockDAG's Development Ahead of Mainnet Launch
The BlockDAG project is shaping a strong user base ahead of its mainnet launch by offering targeted drop rewards. Participants such as testers, buyers, and promoters receive rewards for their actions, helping to develop the project. Testers are rewarded for exploring the testnet, while buyers benefit depending on when they purchase, building strong community ties and encouraging active participation.
In the current context, Ethereum and XRP are at a crucial stage, and their next moves will depend on key events. While BlockDAG strengthens its position ahead of launch, its approach to community engagement may serve as a model for other projects in the cryptocurrency space.
