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As the crypto market recovers from a $550 million hit, SUI is struggling with overbought conditions, with XRP trading below $0.52.
The crypto market is still recovering from a $550 million liquidity hit after the stock market turned red on October 23rd, but SUI has been the most affected as the overbought situation turned into a nightmare. received. Similarly, Ripple is also engaged in a legal battle with the SEC, and Ripple’s home currency, XRP, has fallen below the $0.52 resistance level.
In this article, we will take a look at how SUI is performing, what potential it has to achieve a bullish comeback, and why Ripple whales are selling their tokens .
SUI records huge exodus as whales seek lucrative food
SUI posted bullish gains in the third and fourth quarters, with the price surge beginning after Grayscale announced its trust fund. Moreover, its innovative and fast blockchain also saw high adoption rates, leading to bullish momentum in the price. However, the recent market downturn caused investors to cash out their profits in large quantities, wiping out the expected rise in the $2 SUI.
Once the price falls below the $1.95 level, SUI will show a 7.7% decline on the weekly chart, indicating a very bearish sentiment chart. The 3% intraday decline and 37% drop in volume suggests there is still time for SUI to make a strong recovery above $2. Until SUI shows a definitive price trend, short-term trading should be approached with caution.
Ripple’s decline continues even after the legal deadline has passed
Ripple (XRP) price trends indicate a bleak future as the legal battle with the SEC is expected to be protracted. The Ripple team also missed an important deadline of October 18th to submit the necessary documents. Although the deadline has been extended for another 14 days, XRP price is still showing a bearish channel due to increased uncertainty and legal scrutiny.
Additionally, election results and ETF delays may also accelerate the bearish trend in XRP price momentum. Ripple investors are closely monitoring the XRP price as it remains bearish below $0.52. If this legal battle intensifies, Ripple could fall below the $0.45 level in the coming weeks, prompting investors to seek other opportunities for higher returns.
DTX Exchange surges in inflows after $5.9 million presale
DTX Exchange received a great score in the 2024 presale as large parties take note of its unique and impressive trading platform with a hybrid model and industry-relevant features. The platform reinvests in the growth of its community with passive income strategies, 3% VIP rebates, and staying up to date with the changing technology landscape.
The platform’s powerful features and problem-solving approach, including no-slippage excess liquidity and 1000x leverage capabilities, resulted in Batch 4’s pre-sale of over $5.9 million. DTX Exchange’s decentralized security verification system also includes KYC-free onboarding, non-custodial wallets, and more, making it the go-to platform for data-focused users with complete access to their digital funds.
The DTX platform also provides access to over 120,000 digital assets by combining equity and cryptocurrency pairs such as stocks, commodities, and foreign exchange. Traders can purchase DTX tokens in batch 4 for $0.08 as the pre-sale demand is unlimited. Experts are predicting a moonshot rally to $2 after the official launch of mainnet in the fourth quarter of this year, with early bidders promised 100x profits.
Important points
With SUI trending lower amid a bear market correction and Ripple facing a lengthy legal battle with the SEC, DTX exchange has emerged as a ray of hope for bleeding crypto whales. There is.
The intense demand for DTX Exchange’s pre-sale confirms investors’ confidence in the potential for 100x returns after the mainnet launch. With whale momentum on its side, DTX Exchange will lead the way with 100x investment opportunities this quarter.
For more information, visit the DTX Exchange presale website and join our online community.
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