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Ripple’s XRP 10X Path Is Clearer Than Bitcoin’s $1 Million Hurdle, Asserts Analyst

Optimism around XRP has continued to surge despite the asset’s price faltering this week after a wider crypto market drawdown led by Bitcoin. Notably, the third-largest cryptocurrency has dropped nearly 20% since Monday, approaching a critical multi-year support level at $2. Nevertheless, despite this pullback, analysts suggest there is still room for XRP’s growth , with the potential to outperform BTC and ETH in the long run. In a recent tweet, crypto analyst Max Avery highlighted the difference in the scale of returns required for BTC and XRP prices to surge tenfold. “For Bitcoin to deliver a 10x return, it has to reach $1 million. For XRP to deliver 10x, it only needs to hit $25. Think about that gap for a moment. Which seems more likely?” he asked . The pundit further emphasized that XRP has outperformed Bitcoin in percentage ROI over a 10-year period, suggesting the trend could continue. Echoing these sentiments, some XRP community members reinforced the argument. “Totally reasonable,” one investor noted, adding, “ For Bitcoin to 10x, the market cap would need to increase from $2T to $20T. The entire valuation of all U.S. equity markets is maybe $50T. Bitcoin is not going to get there. For XRP to 10x, its market cap would be $1.5T.” That said, this surge in optimism comes as XRP continues to attract strong interest, particularly in South Korea. According to CoinGecko data, Upbit’s trading volume reached $4.53 billion in the past 24 hours, with XRP/KRW leading the Korean won trading market at 27.99% of total volume. Other top-traded assets included BTC, ETH, USDT, and DOGE. Interest in the XRP ecosystem has also been fueled by developments in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Various experts anticipate a resolution soon, with pro-Ripple attorney Jeremy Hogan stating on Saturday that a decision could come as early as April or May. Adding to the optimism, speculation around a potential spot XRP ETF approval has intensified. Multiple applications, including 21-Shares and Grayscale’s, were recently added to the SEC’s federal register, prompting analysts to assess their potential market impact. Last week, Luca Sorlini, Product Director at Northstake, projected that an approved XRP ETF could attract between $400 million and $800 million in inflows within its first week, depending on market conditions and institutional demand. Elsewhere, last month JPMorgan predicted up to $8 billion could flow into an XRP ETF, a significant sum, though modest compared to the over $50 billion in payments Ripple has already processed. At press time, XRP was trading at $2.19, reflecting a 10.44% drop in the past 24 hours. CoinTurk News

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Investing In The Dip: Discovering The Top Cryptos To Buy As Markets See Red

Markets are currently experiencing a downturn, yet this might be the perfect moment to explore potential top-performing cryptocurrencies. Stunning opportunities can emerge amidst the chaos, offering investors a chance to capitalize on future growth. This article delves into the most promising coins poised for a surge, making it a must-read for those looking to make informed decisions. Uniswap UNI: Past Trends and Key Levels for Future Moves UNI experienced a sharp decline over the past month, with prices dropping around 27%. However, the last six months have shown a strong recovery, with gains exceeding 40%. Despite a nearly 14% slip in weekly performance, the overall trend indicates a longer-term rally. Price fluctuations have characterized this volatile period, as recent dips have been offset by substantial improvements over the half-year. The current price is trading between $9.45 and $14.82, with immediate support around $7.17 and resistance near $17.91. Additional levels at $1.81 and $23.28 provide potential trading ranges. Indicators are showing a slight bearish setup, with negative momentum and an RSI around 35, suggesting short-term weakness. Traders may consider these key levels for potential opportunities, looking for a break above resistance or a bounce from support. Aptos Price Action: Past Correction, Future Levels to Watch Last month, Aptos lost over a quarter of its value, and the six-month view shows a similar downward trend with a nearly 16% decline despite a mild weekly gain. The recent correction signals a volatile period marked by steady declines that highlight investor caution and a shift away from a prolonged uptrend. The coin currently trades between 6.22 and 10.01 dollars with a key support at 4.65 dollars and a nearby resistance at 12.22 dollars. Bears appear to be in control as technical indicators lean negative, yet the price is trading within established levels. Traders might consider watching the break of support or a bounce from the area to capitalize on potential reversals. Uptrend and Volatility Define Aave`s Market Journey Aave experienced a strong rebound over the past six months, surging with a 70% gain, countering a sharp 33% decline in the last month. The weekly drop of approximately 16% pointed to short-term weakness, yet the half-year performance highlights recovery and renewed investor interest. The figures reflect a coin that has been volatile, moving from significant corrections to a resounding bounce back without a steady pace. Current trading sees Aave priced between $266 and $389, with immediate support at $200 and resistance at $445. Bears seem to control the market now with down-trending indicators suggesting sideways action. Traders may consider strategies that explore buying near support or shorting close to resistance within these defined key levels. Conclusion As markets turn red, savvy investors remain on the lookout for fresh opportunities. Uniswap, as a leading decentralized exchange, stays top-of-mind for seamless token swaps. Aave stands out with its robust lending and borrowing protocols, drawing yield-seekers into DeFi. Meanwhile, Aptos continues to gain traction with its innovative blockchain architecture. With the 2024 bull run gaining momentum, these tokens hold the promise of potential upside for forward-thinking investors. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. CoinTurk News