The crypto market faced sharp fluctuations leading to over $1.2 billion in liquidated long positions. XRP and DTX Exchange show resilience and growth potential.
XRP Support: Growth Forecast
Despite losing 6% over the past week and another 4% in the last 24 hours, XRP has managed to stay above its critical support level of $2.28, trading at $2.30. This offers hope to investors amid volatility. The trading volume for XRP has declined by 28%, indicating reduced investor activity. According to expert Javon Mark, using Fibonacci Extension levels, XRP might rally to $10 or beyond. Maintaining the $2.28 support level is pivotal for a reversal. If the market sentiment improves and XRP clears resistance at $2.50–$2.60, it may embark on a larger bullish run.
DTX Exchange and Its Advantages
While major cryptocurrencies like XRP face consolidation, DTX Exchange gains traction with its utility-driven platform. Recently, it achieved 200,000 transactions per second on its testnet, making it one of the fastest blockchain networks. The platform offers access to various assets, including real estate tokenization and multi-asset custody through the Phoenix Wallet. After successful presale rounds, DTX is set to launch officially, with predictions of substantial returns for investors.
What Triggered the Liquidation?
The massive $1.2 billion liquidation over the last 48 hours was triggered by sharp Bitcoin movements, dropping below $100,000. This led to widescale liquidation across the market, especially for altcoins like XRP. As resistance levels were tested, the risks of over-leveraged positions became apparent. However, projects like DTX offer alternatives with robust fundamentals.
The coming weeks are crucial for both XRP and DTX Exchange. For XRP, breaking the $2.50–$2.60 resistance range is key to igniting a new rally. Meanwhile, DTX remains well-positioned due to its scalability and utility focus, thriving regardless of market conditions.
