The Ripple Vs SEC case has hugely impacted the price of XRP in the long term. The feud started in 2020, and there are still no results. Now, the Ripple price is showing strength in technical analysis, rising 24% in the last seven days. However, investors around the globe still have doubts about whether Ripple will reach the $1 level.
The first hybrid trading platform, DTX Exchange (DTX), also performed outstandingly in its presale, rising nearly 400% from the first stage. DTX presale is about to conclude, and experts believe the DTX launch will be one of the biggest things in the cryptocurrency market.
Ripple Breaks Out Of The Box Rectangle Pattern: Will It Sustain?
Ripple (XRP) started trading in the range-bound rectangle pattern at the start of July, with the upper range at $0.64 and the lower range at $0.54. XRP tried to break the upper resistance twice before but failed, but the recent rally has taken the price above $0.74 with the year’s highest volume.
The current rally in Ripple started from the double bottom of November 5th, breaking the neckline on the 6th. Since the breakout, Ripple has increased by 40%, showing buyers’ continuous participation. $0.75 is a major resistance level because XRP has faced rejection twice, which is the immediate resistance for now.
Also, $0.94 is the high made in 2023, which will be the next barrier for the XRP price in the journey to $1. Analyzing the strength of this bull market, it is highly probable that XRP will reach its target in the coming months.
Robinhood’s decision to relist XRP on its platform could drive new interest in the altcoin. The trading platform recently announced this relisting in response to high demand from the community over the past month. At the same time, data shows a rise in active addresses on the XRP Ledger, signaling a growing bullish momentum.
DTX Exchange (DTX) Nears $8 Million, Huge Demand In Presale
DTX Exchange is close to achieving the target of $8 million, projected for the end of November. The high inflow in DTX presale has increased demand as it is the last chance for investors to grab coins at lower prices.
DTX Exchange is the first multi-asset trading platform, which is the need of the hour. Experts who have been in the market for more than 20 years have named it the complete trading exchange.
The recent launch of the VIP rebate system and Phoniex wallet were the main reasons for increased demand. DTX Exchange offers varied trading options and community-focused features. The VIP rebate program will allow users to share the exchange’s revenue fees.
DTX Exchange has already been audited by SolidProof, the best crypto auditing firm. This has increased investors’ confidence in the platform and its credibility. DTX Exchange has also launched its Phoniex wallet app and testnet, and users have highly appreciated these efforts, increasing the exchange’s market share.
Disclaimer: Techbullion does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. Techbullion recommend our readers to make decisions based on their own research. Techbullion is not accountable for any damage or loss related to content, products, or services stated in this press release.
