XRP experienced a 2.5% decrease in price to $2.96 following the launch of 720 million Ripple tokens to the market by one of the key holders. This decision drove the market capitalisation down by almost 5 billion dollars. Technical indicators were also indicated by the analysts predicting prolonged downward pressure, although some support could be seen at the levels of $2.80 and $2.40.
Such indicators as the MACD crossover and the MVRV death cross signified weak momentum. Irrespective of this, the relative strength index (RSI) was close to neutral. The selling pressure initiated by the loss of the $3 mark brings about uncertainty on the short-term performance.
Cronos (CRO), on the other hand, exhibited a strong uptrend. The coin is up 74% since its lowest, and it trades at 0.1347. Bulls were also waiting at the next resistance zone of $0.1498, as there was a bullish pennant pattern and a new golden cross.
Chain data suggested that the Cronos-based stablecoin supply has grown to USD 168 million. Moreover, DEX volume on the Cronos network reached $142 million in July. The news of Crypto.com and Canary Capital filing an ETF also contributed to investors' positive mood regarding CRO and its short-term opportunities.
Also Read: Will XRP Repeat Its 70% Rally? Price Approaches Breakout
Cold Wallet ($CWT) is another project with a token presale currently running. It is expected to offer a potential return of 3,632% should it be able to achieve its anticipated launching price level of $0.3517. Currently, it is at Stage 16 of the presale, where 691.23 million tokens were sold and more than $5,7 million has already been raised.
The project seeks to combat inefficiencies in the DeFi system, as it facilitates recovery of these fees in the form of 7CWT tokens. Community members have access to priority functionality and value creation tools that transform wallet usage into a value-producing mechanism. The model aims to redefine the participation costs of the decentralised networks.