The cryptocurrency market is sending out mixed signals as XRP and Monero move in different directions. This article analyzes the current trends and forecasts.
Monero: Targeting $290
Monero (XMR) has been strengthening, trading around $275. Analysts highlight a falling wedge formation, often linked to bullish breakouts, with the $290 level in sight. Supporting signals include bullish engulfing candles and a recovering RSI, indicating that buyers are regaining ground.
However, risks remain, as Qubic Protocol now controls 51% of Monero's hashrate, raising concerns about centralization. Kraken has responded cautiously, reactivating deposits but requiring 720 confirmations for added safety.
XRP: $3.05 Support Level
XRP's massive surge, climbing more than 500% to $3, now looks stretched. With nearly all holders in profit, warnings of a pullback are growing. XRP trades within a descending triangle, with $3.05 marked as a critical support floor. A breakdown could lead prices toward $2.39.
Still, some optimism persists. Continued inflows and increasing altcoin interest could steady XRP. If it breaks past resistance between $3.25 and $3.50, upside targets of $6 and $7.20 remain possible.
Future of BlockDAG and its Impact
The new project BlockDAG is attracting attention with impressive presale results, raising $380 million and selling 25 billion coins. The project offers unique hybrid blockchain and DAG architecture, supporting up to 15,000 transactions per second. The updated Dashboard V4 provides users with real-time sales tracking features.
This creates confidence among participants and ensures process transparency. The leading role of BlockDAG amid uncertainty surrounding XRP and Monero could make it an attractive option for potential investors.
Despite the uncertainty surrounding both Monero and XRP, the BlockDAG project shows clear progress in building a reliable ecosystem. Given the current trends and market signals, interest in these assets will continue to grow.
