The post Ripple’s XRP Struggles Amid Massive Whale Sell-Offs, Toncoin And Polygon Set To Explode appeared first on Coinpedia Fintech News
Following the recent correction in the cryptocurrency market, Ripple’s XRP is recording massive whale sell-offs and price declines. Meanwhile, prominent crypto projects like ETFSwap (ETFS), Toncoin (TON) and Polygon (MATIC) are witnessing heightened demand from investors as they show signs of surging significantly.
Ripple’s XRP Struggles Amidst Whale Sell-Offs
Ripple Whales recently sold 150 million XRP from its allocated July reserves, generating approximately $64.5 million. This represents a decrease of $13.5 million compared to XRP sales from their June reserves. The sale follows Ripple’s release of 1 billion XRP from an initial distribution, with the tokens locked in monthly escrows until 2027. This month, Ripple allocated 200 million XRP to its treasury account. At the same time, the remaining 800 million were placed in new UK escrows, as Finbold reported.
The sales came at a time when Ripple’s (XRP) price has been underperforming. Despite the recent lull, popular cryptocurrency analyst Javon Marks recently suggested the cryptocurrency could soon see an explosive upward move after identifying similar price patterns throughout Ripple’s history, pointing to symmetrical triangle breakouts.
His short-term prediction involves a potential rally to $1.44, fueled by technical indicators. Reaching this price point, Marks argues, could trigger a breakout from a six-year price consolidation pattern that, in the long run, could see Ripple (XRP) exceed the $200 mark per token.
ETFSwap (ETFS): Revolutionary Platform Poised To Explode Above Ripple, Toncoin And Polygon
Unlike Ripple, Toncoin, and Polygon (MATIC), which are tethered to only cryptocurrency, ETFSwap (ETFS) offers a revolutionary bridge to a diverse landscape of traditional ETFs. The crypto ETF trading platform uses asset tokenization and blockchain technology to create a tokenized version of exchange-traded funds (ETFs), enabling users to trade them for various commodities.
To streamline its trading procedures and transactions while ensuring platform security, anonymity, and transparency, ETFSwap (ETFS) partnered with MiCa-compliant banks to deal with securities. Furthermore, to reaffirm its stance on security, Solidproof, one of the top Smart contract security auditing firms, has vetted and given the platform full KYC verification.
Beyond the cutting-edge technology and advanced features ETFSwap (ETFS) offers, it also boasts a thriving community. This is evident as the platform has recorded over 10,000 active token holders. To incentivize them, these traders can trade cryptocurrencies and tokenized ETFs with 50x leverage.
ETFSwap (ETFS) has included a risk-free staking feature that allows all traders to stake the ETFS token in a liquidity pool. The ETFS token will unlock access to all the features on the network and power the ecosystem; also, it will provide yield for holders through staking, as the platform boasts over 87% annual percentage rate (APR).
Toncoin (TON) And Polygon (MATIC) Price Poised In To Explode
The Open Network (TON), the blockchain behind Telegram, is shaking things up with a new layer-2 network built on Polygon’s impressive tech. According to Pavel Altukhov, founder of TAC, the decision to utilize Polygon’s ecosystem in Toncoin stems from its Ethereum Virtual Machine (EVM) compatibility, seamless liquidity access via AggLayer, and strong community support.
This introduction of TAC marks a significant milestone in Toncoin’s evolution, positioning it as a competitive player in the blockchain industry. Due to this development, the price of Toncoin has experienced a subtle increase. At the time of writing, Toncoin is trading at $7.25, indicating a 0.4% monthly increase.
Meanwhile, the Polygon (MATIC) price is looking to make a comeback with the receding bearishness, given that the token has already dipped into the oversold zone. The Relative Strength Index (RSI) indicates that the Polygon (MATIC) token is oversold, suggesting a potential trend reversal soon.
The RSI, a momentum oscillator that measures the speed and change of price movements, has also slid into the oversold zone. This typically implies that Polygon (MATIC) may have been sold off too aggressively and could be due for a rebound.
Conclusion
ETFSwap (ETFS) is gaining significant traction, with Ripple, Toncoin, and Polygon (MATIC) investors quickly buying the ETFS token. Each token’s value is set at a discounted price of $0.01831, and early investors can take advantage of the low price to buy ahead of the token’s projected price leap.
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