August proves to be a significant month for the crypto market. XRP maintains its support level, Ethereum shows growth, and Cold Wallet introduces an innovative approach.
XRP's Steady Support Level
XRP remains stable at $3.20, providing traders with a clear reference point. A 4-hour chart analysis indicates the formation of a symmetrical triangle supported by a rising trendline. A close above the $3.33 and $3.36 marks could pave the way to $3.40 and $3.60, supported by institutional demand.
Ethereum's Growth Prospects
Ethereum is trading between $4,000 and $4,300, reflecting a 23% rise over the week. Data indicates the potential for a move toward $4,800 if ETH can overcome resistance. Increased institutional inflows add optimism to the market.
The Impact of Cold Wallet on the Crypto Market
Cold Wallet offers a unique approach to enhancing transaction economics and has already raised $6.2 million. More than 706 million tokens have been sold, creating a potential ROI of 3,423%. Cold Wallet removes barriers to entry for Web3, lowering participation costs for users.
The cryptocurrency market situation in August requires careful analysis. XRP should be monitored at support levels, Ethereum shows potential for growth, and Cold Wallet may change the game in Web3.
