Top Crypto Coins to Watch as Ripple Expands XRP Ledger's Smart Contract Capabilities
Ripple's recent enhancements to the XRP Ledger (XRPL) aim to expand its smart contract capabilities, driving market changes amid broader corrections. Key coins to watch include Stellar (XLM), Solana (SOL), Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT).
XRP: Currently trading at $0.52 with a 0.9% gain, XRP's resilience is attributed to new developments on XRPL, enhancing programmability and DeFi capabilities.
Stellar (XLM): As a competitor in cross-border payments, XLM's price stands at $0.088 with a market cap of $2.6 billion. However, its open interest shows a downward trend, signaling less market participation.
Solana (SOL): Known for low fees and speed, SOL trades at $127. Despite recent corrections, the user base continues to grow, reflecting a potential increase in demand.
Cardano (ADA): Trading at $0.32 with an $11.7 billion market cap, ADAâs MVRV ratio suggests a potential market recovery as speculative traders exit and long-term investors enter.
Avalanche (AVAX): AVAX saw a 22% drop, with its price settling at $21.7. Despite this, its growing user base could signal a future price recovery.
Polkadot (DOT): Trading down from $11.8 to $4.08, DOT's declining open interest suggests reduced market interest, often leading to prolonged corrections.
These developments highlight the evolving dynamics in the crypto market as Ripple advances XRPL's smart contract capabilities.
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