Ripple (XRP) traders are starting to feel left out as new altcoins like RENDER and DTX get a lot of attention in the crypto world. These new tokens have extensive applications and are growing quickly.
As the digital money market changes, many investors are looking at these newer coins instead of sticking with older ones like XRP. In this article, we’ll talk about how RENDER and DTX are becoming popular and why XRP traders might want to try something new.
XRP Price Drops After Ripple Co-Founder Moves Millions
Ripple (XRP) recently dropped in value by 5%. It went from a high point of $0.61 to as low as $0.57 on Monday, September 23. Some experts believe this price drop is connected to a significant transaction made by Chris Larsen, a co-founder of Ripple, the company behind XRP.
On September 17, a huge amount of XRP, worth about $30 million, was moved from Larsen’s wallet. This caught people’s attention because it was the first time such a big transfer had happened since 2013. Some people worry that this means Larsen might be selling off more XRP soon, which could push the price down even further.
Before the drop, XRP increased thanks to the U.S. Federal Reserve lowering interest rates. This helped the price of XRP rise from $0.58 to $0.61 over a few days. But instead of going higher, like some thought it might, the price fell after Larsen’s transaction.
Looking ahead, some experts think XRP might struggle to return to $0.65 soon. A key indicator shows that the market is currently leaning slightly negative, meaning buyers might take a little time to gain strength and push the price back up.
Render (RNDR) price set to rise
Render (RNDR), a cryptocurrency, is rising again, and a well-known analyst named Javon Marks believes it could rise even more. Marks said that Render had once increased over ten times, reaching around $7.84.
He now predicts a significant recovery for Render. He thinks the price could increase by more than 120%, reaching $12.30 soon. Marks says Render might even hit $15.33 if the recovery continues, eventually breaking above $22. In a best-case scenario, it could rise to $150.
Several positive developments are helping Render’s growth. Coinbase, a central trading platform, has added new trading options for Render, showing that big investors are interested. Also, more people are using Render’s network, increasing demand for its services.
Render is becoming a leader in decentralized infrastructure, alongside projects like Helium and Filecoin. By offering decentralized GPU rendering, Render helps companies in areas like entertainment and artificial intelligence, making it an important player in this field.
XRP traders left behind as Render & DTX surge
While Ripple (XRP) traders struggle to keep up, new altcoins like Render (RNDR) and DTX are taking over the crypto spotlight.
Render has shown strong growth, with experts predicting big gains, while DTX Exchange has raised $2.7 million and is pulling investors with its cutting-edge features.
Investors are excited about DTX Exchange because of its unique features, like strong security, big trading options, and the ability to trade with 1,000x leverage. These features are attracting people from other cryptocurrencies to the platform.
Some big Ethereum investors recently switched to DTX Exchange after Ethereum’s price dropped by 9.7%. DTX aims to raise $3 million as the market prepares for a possible big price jump by the end of 2024.
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