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XRP price drops amid $300b altcoin surge, while DTX skyrockets 400% following its wallet launch.
Table of Contents
Ripple struggles to break resistance amid decreased investor activity
Introduction of Phoenix Wallets boosts token value and reputation
Crypto investors have been startled lately by the recent developments regarding the XRP price, which is decreasing despite a significant overall increase in the altcoin market cap to $300 billion. Meanwhile, the emerging DTX Exchange (DTX) is seeing a remarkable increase in its price, rallying by 400% following the launch of a new wallet called Phoenix.
Now let’s examine the factors contributing to the bullish momentum of DTX and why Ripple (XRP) couldn’t rally along with the altcoin market.
Ripple struggles to break resistance amid decreased investor activity
Recent data shows that activity on the Ripple network has dropped significantly, with whale transactions down by over 50%. In the past month, both the volume and number of payments made to and from accounts have decreased.
At the time of writing, the XRP price is trading around $0.55 and has been unable to breach key levels of resistance that are slightly above this figure. Although it has crossed several important moving averages recently, it still faces selling pressure in the $0.55 to $0.57 range. The decline in network activity suggests that whales are becoming cautious, possibly believing that the XRP price will struggle to hold its recent gains.
With the reduced trading volume, the XRP price might experience less liquidity and more stability for now. If this trend continues, it could indicate that larger players are losing interest, which might lead to a significant drop in the XRP price. Key support levels to watch are around $0.50 and $0.53, where Ripple has shown strength in the past.
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Introduction of Phoenix Wallets boosts token value and reputation
While the XRP price declined even when the altcoin market cap reached $300 billion, DTX Exchange has risen 400% after releasing the Phoenix wallet. This has captured the attention of many investors who are now rushing to DTX Exchange as the next big platform to maximize their investments.
The introduction of the Phoenix wallet on DTX Exchange has positively impacted the recent DTX token rise. It has also enhanced the reputation of DTX in the DeFi market since it offers customers full control over their funds and personal keys – an essential factor in this security-sensitive digital environment.
Some of the assets featured in the Phoenix wallet include cryptos, stocks, and Forex. The availability of these assets in the wallet help traders who want to invest in a diverse portfolio. When it comes to design, the Phoenix wallet combines simplicity of usage with the enhanced level of protection like the multi-signature system, which helps to avoid security breaches. Currently, DTX is priced at $0.08 during its fourth stage of presale.
Remarkably, it has already climbed 300% from its initial presale price and is projected to rise by over 500% shortly due to the Phoenix wallet launch. The presale has attracted over $7 million in investments, reflecting strong confidence from the community
For more information, visit the DTX Exchange presale website and join the online community.
Read more: Crypto analyst sees bullish signal on ETH but DTX looks set to outperform the altcoin
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