Market-Wide Correction Delays XRP’s Potential to Hit $5; Spotlight on Hedera (HBAR) and DTX Exchange (DTX)
The crypto market is currently experiencing a sell-off, mainly due to the Federal Reserve’s monetary policy. The Fed’s decision to reduce its anticipated rate cuts for 2025 has made investors take a bearish turn, affecting major cryptos like XRP. The market-wide correction has caused XRP’s price to drop by 20% from its recent highs. It also appears that the recent trends are making more market enthusiasts turn to more profitable coins like Hedera (HBAR) and DTX Exchange (DTX), as they promise more gains.
What’s the background cause of this market reaction? What potentials do traders see in projects like HBAR and DTX? We’ll discuss the potential reasons behind the different market activities and how traders still secure gains.
Speculative Trading Could Be Damaging XRP’s Price Movements
XRP’s recent price movements have been majorly due to speculative trading behaviors following RLUSD’s launch announcement. Before the announcement on December 17, 2024, XRP was trading below $2.40. At that time, traders were cautious as they waited for regulatory clarity related to their ongoing issues with the SEC.
When Ripple announced the launch of RLUSD on December 17 (set to go live on major exchanges), there was some bullish sentiment in the market. XRP noticed a price increase of 9%, reaching up to $2.60 and increasing investor interest. At the same period, XRP’s market capitalization rose significantly, reclaiming its position as the third largest cryptocurrency by market cap — $148.5 billion.
After RLUSD went live on December 18, XRP surged by 13%, but this upward momentum lasted only a short period. When XRP hit $2.73 after launch, it faced a sharp retracement. Now, XRP is trading at $2.16, showing a major decline from the post-launch highs.
XRP’s Overbought Conditions Don’t Seem to Help
XRP has faced clear overbought conditions, majorly due to a fast price increase. So, the Relative Strength Index (RSI) has shown signs of being overextended. The RSI has exceeded 90 at times, which indicates extreme overbought conditions. On a normal note, an RSI above 70 suggests that an asset may be overvalued and due for a correction. So, the current RSI readings around 72 and 90 indicate that XRP is currently experiencing major buying pressure and may continue at a risk of pullback.
Hedera (HDX) and DTX Exchange Becoming Solution for Gains Amidst Market-Wide Corrections
Even though XRP doesn’t seem to be hitting its $5 price projections any time soon, traders have their spotlights on projects like HDX and DTX Exchange. HBAR has experienced impressive growth over the past month, surging 800%. HBAR is a major consideration for traders because it’s also a leading player in the blockchain space. It’s also considered by major corporations like Google, Boeing, and IBM.
DTX Exchange has a current listing price of $0.20, but the price is set at $0.14, which means traders could make a 60% profit from the listing alone. DTX also supports a wide range of assets, including stocks, forex, and commodities. As DTX seems to be serving as a utility investment, there’s more attention from institutional and retail traders. In its presale, it raised over $10.2 million, indicating a high potential for gains by early investors.
DTX Exchange Gives Traders an Increasing Potential for Profits
DTX Exchange is the safe-haven amidst all of the market-wide corrections. Recent projections show that early investors in DTX can see returns of up to 321% as it gains market traction. From the previous launch, the possibility of an increased gain is obvious. Users can also access up to 1000x liquidity on DTX Exchange, which means $100 can get you access to up to $1000,000.
Find out more information about DTX Exchange (DTX) by visiting the links below:
