Despite the ongoing legal sparring with the US SEC and the declining investor confidence, Ripple's (XRP) decision to reserve 470 million XRP for sale sparked concerns.
- DDDOriginal
- 2024-11-07 12:24:28470browse
This marked its largest monthly dump in seven years, with traders taking a cautious approach. With interest in Ripple (XRP) quickly declining, the two tokens on whales
As the dust settles on November’s XRP token unlock, revealing that Ripple has reserved an unprecedented 470 million tokens for sale—the largest in seven years, traders are proceeding with caution.
With interest in Ripple (XRP) quickly waning, the two tokens on whales’ radars are Shiba Inu (SHIB) and DTX Exchange (DTX), a new exchange-based token. SHIB is popularly known as the leading Ethereum memecoin, while DTX is a new player at the crossroads between DeFi and TradFi, aiming to reshape the global trading scene.
Following November’s XRP token unlock, Ripple has reserved an unprecedented 470 million tokens for sale, the largest in 7 years.
DTX Exchange (DTX): A New DeFi Project on Whales Radars
DTX Exchange (DTX) is on whales’ radars given its innovative approach to trading and growth prospects. Its unique approach, hailed as a trailblazer, centers around combining the best elements of centralized and decentralized exchanges. Additionally, it aims to unify the trading experience by merging conventional assets and cryptocurrencies.
Its unified blockchain will integrate conventional assets like stocks, ETFs, and bonds with cryptocurrencies. The significance is that users will be able to trade diverse asset classes, totaling over 120,000. Equally important, there will be up to 1,000x leverage on select assets and users can take advantage of advanced features like copy and social trading and trading bots.
On track to reshape the $3.2 billion global trading market, it has been hailed as the best presale to invest in. Over $6.6 million has been raised in early funding and a token is underpriced at $0.08 in the fourth round. With sights set on challenging the dominance of Ripple (XRP), analysts anticipate a timely 45x rally after its launch, making it a good crypto to buy alongside Shiba Inu (SHIB).
Ripple (XRP): Possibility of Further Downswings
Ripple (XRP) is one of the biggest altcoins, ranking among the top 10 cryptocurrencies. It functions as a payment protocol, assisting with cross-border transactions. However, its regulatory challenges amid the legal battle with the US SEC plus the largest XRP sell-off in seven years cast doubt.
Following November’s XRP token unlock, Ripple has reserved an unprecedented 470 million tokens for sale—the largest in 7 years. This adds an extra layer of uncertainty around its market dynamics. The XRP price is down by over 4% in the past 30 days and has tumbled 3% on the weekly chart, retailing above $0.5.
Amid dwindling interest and impending selling pressure, an XRP price prediction hints at a fall below $0.45. The MACD level (12, 26) is at -0.01064, suggesting further decline, the same as the simple moving average (10), which is at 0.51375.
Shiba Inu (SHIB): On Whales Radar
Shiba Inu (SHIB) is the leading memecoin on the Ethereum blockchain. Its memetic appeal revolves around a dog theme and considering its leading status, it is a favorite among whales. Its performance this year has been one of the most remarkable—a 100% upswing on the yearly chart.
Leading the dog cryptocurrency movement with Dogecoin (DOGE), SHIB is among the best altcoins. In addition to its memetic appeal, its vibrant community and robust ecosystem, which feature utility-backed projects like Shibarium and ShibaSwap, add to its appeal.
Meanwhile, the Shiba Inu price is back on the rise despite the 4% downturn in the past 7 days. TradingView’s indicators, like the Bull Bear Power and moving averages, tilt toward buying now.
Conclusion
The massive 470 million XRP tokens reserved for sales this month add selling pressure and might have a more bearish impact on the XRP price. Meanwhile, whales have been doubling down on Shiba Inu (SHIB) and DTX Exchange (DTX) given their significant upside potential.
Learn more:
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Visit DTX Website
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