Solana and Ripple have recorded significant gains over the last week. However, experts warn of an impending correction phase. Meanwhile, Lunex Network is attracting investors with its cross-chain trading features and staking rewards.
Solana's rally is expected to end soon
Solana's price increased by 9% over the last seven days amidst overall crypto market gains. Although Solana surpassed Ethereum in terms of transaction volume in October 2024, its current price trend indicates a potential correction in the coming days. Solana is trading at $216 after an intra-day rise of 8.9%. Trading volume has decreased by 8.97% over the last 24 hours, indicating a slowdown in investor confidence. Since Solana's CCI has turned negative, the price seems to be losing upward momentum and might revert to the support level of $211.81 in the upcoming week.
XRP's buying activity sees huge decline
XRP's price experienced massive fluctuations in the last few months as Ripple continues its battle with the US SEC. Even though XRP recorded a 109% rally over the last seven days, buying activity appears to be cooling down. XRP is currently trading for $1.15 after an intraday increase of 31.06%. Given that XRP's RSI is moving into oversold territory while the CCI flashes sell signals, analysts believe last week's rally might not sustain much longer.
Lunex Network prepares for another massive rally
Lunex Network has recorded several rallies over recent weeks, which pushed the token's price up by 116%. Although still in presale, Lunex Network has proven its potential by raising over $2.4 million in record time. Analysts anticipate up to 1800% returns for LNEX holders if the platform maintains upward momentum until the end of 2024. This week, Lunex Network's price reached a new all-time high of $0.0021. The main factors driving Lunex Network's demand are its cross-chain trading features and staking rewards. Traders investing in Lunex Network's presale gain exclusive access to the platform's noncustodial DeFi exchange once launched. Each transaction on Lunex Network is encrypted on Ethereum's immutable blockchain and executed through smart contracts, allowing traders to retain full control over their assets during trading. Additionally, Lunex Network shares a significant part of its weekly revenue with current LNEX holders in the form of staking rewards. The platform uses up to 18% of its weekly revenue to purchase tokens on the open market, half of which are distributed to stakers as rewards, while the rest are removed from circulation through a token burn mechanism that keeps the LNEX price deflationary.
Despite the current growth in Solana and XRP, investors should prepare for potential corrections. Meanwhile, Lunex Network continues to solidify its position with cross-chain features and holder rewards.
