The hybrid VulcanX Chain has officially launched, drawing significant attention in the crypto market. On top of that, DTX Exchange, in particular, has surged in popularity, alongside a notable 6% rally in Cardano (ADA) and XRP’s continued bullish run. These developments are reshaping the altcoin landscape as investors seek new opportunities amid market fluctuations.

In this article, we will discuss the impact of VulcanX, DTX Exchange, and altcoin trends.

Grayscale’s XRP trust relaunch sparks Ripple settlement speculation

Popular Ripple (XRP) community figure Luke Thomas believes Grayscale’s launch of an Ripple Trusts suggests the SEC might be willing to settle with Ripple, paving the way for an Ripple ETF and Ripple IPO. 

Recall that Grayscale launched its Ripple Trust product yesterday, granting accredited investors direct exposure to the seventh-largest cryptocurrency. 

Although several XRP enthusiasts, like Ripple CEO Brad Garlinghouse, commended the move, others believe Grayscale might have vital information about the SEC vs. Ripple lawsuit. 

For context, Grayscale terminated its previous Ripple Trust in January 2021, a few weeks after the SEC charged Ripple with violating federal securities laws. The asset manager clearly stated that the Ripple lawsuit influenced the termination of the trust. At the time, Grayscale dumped its XRP holdings, distributing the cash proceeds to its shareholders. 

Despite Ripple (XRP) securing a partial victory against the SEC last year, Grayscale refused to re-introduce the XRP Trust. However, the asset manager re-launched the Trust weeks after a New York district court issued the final verdict. 

Expectedly, Grayscale’s decision surprised many due to speculations that the SEC or Ripple could appeal the court’s final judgment. As reported earlier, Ripple laid the groundwork for a potential appeal by establishing a trust with the SEC’s consent. Notably, the company transferred $138.75 million into it. 

Cardano’s RSI Signals Bullish Reversal After Price Stabilization

The price of Cardano (ADA) has fallen since its yearly high in March. However, it stabilized and regained footing after reaching a temporary bottom in August.

Since then, Cardano’s Relative Strength Index (RSI) indicator has created an interesting bullish signal, which has not been seen since 2020. Can it catalyze a movement like it did back then, or will the increase not materialize this time?

The weekly chart shows that ADA has fallen since its yearly high of $0.81 on March 11. The decline culminated with a low of $0.27 on Aug. 5. Then, ADA created a long lower wick and a higher low on Sept. 6 (white icons). Since the downward movement started, this was the first higher low in the weekly time frame.

This entire movement happens above the $0.32 horizontal support area, which has been critical for the Cardano price for nearly two years. Since Nov. 2022, the area has intermittently acted as both support and resistance and seems to have been validated as support in recent months.

Finally, the weekly Cardano RSI is generating a bullish divergence. This is the first time the indicator has generated a bullish divergence in this time frame since March 2020. An RSI movement above 50 would confirm that a bullish trend reversal has started.

DTX Exchange (DTX): A leader in the making

DTX Exchange (DTX) is slowly beginning to establish itself as a crypto leader. Its ongoing presale performance has been great, raising over $2.6M and potentially reaching $3M next week. Hype could continue growing as DTX Exchange recently launched its own L1 blockchain, which will serve as the foundation for its upcoming trading platform.

This platform will combine the best features of CEX and DEX into one. Thus, people can buy over 120K asset classes like crypto coins, CFDs and FX at a rate of 1000x. DTX Exchange will not do any sign-up KYC checks, making it more appealing to millions of privacy-conscious traders. Even CryptoDexWorld sees this rookie as the next ultimate trading platform.

The DTX native token costs $0.06 in Stage 3 of its presale. Those who buy it now will see a 33% return once Stage 4 begins and the price jumps to $0.08. Experts predict another potential 50x surge once a Tier-1 CEX lists DTX in Q3 of 2024.

Learn more:Buy PresaleDTX WebsiteJoin the DTX Community

The post Hybrid VulcanX Chain Goes Live; DTX Exchange Leads Altcoin Market Alongside XRP’s Bull Run and ADA’s 6% Rally  appeared first on CoinChapter.