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Cardano and XRP gain momentum as bullish sentiment rises post-Bitcoin recovery, while Lunex Network’s presale exceeds $1M.
Cardano (ADA) and XRP (XRP) have caught the attention of investors as they show signs of potential rallies. Their recent price increases reflect broader bullish sentiments across the crypto space following Bitcoin’s price recovery. The move has instilled renewed confidence in the market, with various cryptos, including Cardano and XRP, benefitting from the shift in sentiment.
Meanwhile, the Lunex Network presale continues to heat up. Its unique cross-sectional exchange has drawn considerable investor interest. It has already raised over $1 million and delivered a 25% ROI at stage three of its presale campaign. As such, experts believe that this new project has the potential for significant returns during the bull run.
Lunex Network: New change in crypto trading
DEX cryptos tend to thrive during market hype, and Lunex Network’s interoperability features and accessibility have positioned the new project for growth. It introduces a hybrid cross-sectional exchange, enabling users to trade over 50,000 assets swiftly and with minimal fees. Another notable feature is the elimination of KYC protocols, which has appealed to traders and investors who prioritize privacy and a seamless trading process.
Lunex Network has removed the need for third-party wallets like PhantomWallet, thereby mitigating risks associated with wallet integration. Moreover, it leverages a deep liquidity pool to ensure a tight spread and zero slippage during transactions. This will allow fast and efficient trading that was never available with traditional DEXes. This, coupled with an additional revenue share model, experts forecast that Lunex could reshape the competitive landscape of crypto exchanges.
At stage 4 presale, LNEX tokens are selling for $0.0017. Analysts believe that this project could be the next 100x crypto post-launch. Investors who join the LNEX community early on can rip big returns as market pundits hint at an additional 1800% rally by the end of 2024. As such, the bull market is timed perfectly for this token to rip.
Cardano price analysis: Could ADA reach $0.50 soon?
Cardano has faced multiple resistance after recording a yearly high of $0.77 in March, with its most recent level forming around the $0.40 region. Over the past months, the ADA token has found strong support around the $0.33 level but with a falling relative strength index of 50. This reflects that the ADA coin could be losing its current foothold. If this were to happen, avalanche and Shiba Inu tokens could flip Cardano’s market capitalization, which is around the $12 billion mark.
Historically, Cardano holders are known for their tendency to sell during moments of volatility, but these investors have exhibited unexpected shifts in attitude. This shift in sentiment has positioned Cardano to potentially break its critical level of $0.50, which could mark the start of a more sustained upward trend.
Cardano technical indicators signal a potential breakout. The altcoin has moved closer, surpassing its Leading Span A on the one-day chart, which highlights that it has geared up to overcome the resistance level that was causing selling pressures.
If the ADA token breaks above the Leading Span A, it could aim for the next target, the Leading Span B. This will propel Cardano’s price towards a 32% gain, pushing its value around the $0.50 mark. However, if the bullish momentum weakens, the ADA coin could fall, dropping the first resistance level and retreating to $0.27.
Interestingly, the strength of Cardano short-term holders and its critical technical indicators will play a vital role in determining whether ADA can break above $0.50 in the near term.
Can XRP price reach $2 post Ripple’s RLUSD launch?
Ripple’s recent announcement of its RLUSD stablecoin has sparked discussion about the potential impact of XRP price. Some analysts believe that just like the SEC vs. Ripple lawsuit triggered massive volatility to move to the upside, the RLUSD launch will likely have a similar effect.
XRP technical indicators suggest a positive sentiment, with the XRP token targeting the $1 mark in the short term. Its daily XRP price chart indicates range-bound movement in the yearly Volume Weighted Price Average (VWAP) with one standard deviation. The blue line at the center of the annual VWAP and the green lines on either side are one deviation apart. At the moment, XRP price trades under the yearly VWAP at $0.561, which is just below its daily resistance of $0.556.
If the RLUSD stablecoin launches, a breakout above the aforementioned levels is possible. Its first critical point will be $0.635. Beyond this barrier, crypto enthusiasts will watch the $1 psychological level. However, in case of massively increased volatility, the XRP’s price could easily surpass these short-term resistance barriers to reach the $2 level.
Can Lunex Network Surpass XRP and Cardano in the race to $1?
While Cardano and XRP struggle to keep up with the rapidly evolving cryptocurrency industry, there’s a chance Lunex Network’s unique features may position the altcoin to reach $1 soon. Its deflationary tokenomics, for example, will ensure Lunex maintains long-term value appreciation.
For more information, visit the Lunex Network official website or join the online community for the latest updates.
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