The post Over $1.2 Billion Longs Liquidated in Past 48 Hours, What’s Next for Ripple (XRP) and DTX Exchange appeared first on Coinpedia Fintech News
The crypto market has faced significant turbulence over the past 48 hours, with more than $1.2 billion in long positions liquidated, triggering widespread uncertainty. Major cryptocurrencies, including Ripple’s XRP, experienced sharp price movements as volatility swept through the market.
Amid this chaos, DTX Exchange, a rising utility-driven project, continues to stand out, maintaining its momentum as it solidifies its position in the trading ecosystem. As traders assess the impact of the liquidations, attention turns to XRP’s consolidation phase and DTX’s ability to capitalize on the shifting market sentiment.
Ripple’s XRP Holds Support as Bulls Eye a $10 Breakout
Despite losing 6% over the past week and another 4% in the last 24 hours, XRP has managed to hold above its critical support level of $2.28, currently trading at $2.30. This offers hope for investors amid market volatility, reflecting broader market bearishness driven by Bitcoin’s failed attempt to sustain its price above $100,000.
Trading volume for XRP has declined by 28%, highlighting reduced investor activity during the sell-off. Despite this, crypto expert Javon Mark identifies a bullish opportunity ahead. Using Fibonacci Extension levels, Mark predicts that XRP could rally to $10 or beyond, presenting one of the most significant breakout potentials in the crypto space.
Mark emphasizes that maintaining the $2.28 support level is pivotal for a reversal. If market sentiment improves and XRP clears resistance at $2.50–$2.60, analysts believe the token could embark on a larger bullish run, potentially testing its all-time high and beyond.
As the market stabilizes, XRP remains a key cryptocurrency to watch, particularly for investors betting on a swift recovery and long-term growth potential.
DTX Exchange: A Utility Altcoin Poised for 10x Gains
While major cryptocurrencies like XRP face consolidation, DTX Exchange has continued to gain traction as a next-gen trading platform. Unlike meme coins like DOGE or PEPE, DTX’s utility-driven approach offers investors a compelling alternative during periods of heightened market volatility.
Recently, DTX made headlines with its testnet upgrade, achieving an industry-leading 200,000 transactions per second (TPS)—a milestone that positions it among the fastest blockchain networks. This exceptional scalability ensures seamless trading across various asset classes, including stocks, forex, bonds, ETFs, and cryptocurrencies, making DTX a versatile solution for both retail and institutional traders.
Built on the VulcanX layer-1 blockchain, DTX is designed to bridge the gap between centralized and decentralized trading. Key features include Real World Asset (RWA) tokenization, enabling users to trade tokenized real estate and commodities, and the Phoenix Wallet, which offers secure multi-asset custody and has already surpassed 50,000 downloads.
With $11.5 million raised during its ongoing presale at a token price of $0.14, DTX continues to attract significant investor interest as its official launch approaches. Analysts predict that DTX could deliver 10x or higher returns, especially as the market shifts its focus toward utility-driven projects.
What’s Driving The Liquidation Frenzy?
The massive $1.2 billion liquidation in the last 48 hours was triggered by sharp movements in Bitcoin, with ripple effects across the broader market. Bitcoin fell below $100,000, leading to a cascade of liquidations as traders closed leveraged positions.
For altcoins like XRP, the sell-off coincided with profit-taking by long-term holders and increased selling pressure near resistance levels. This wave of liquidations highlights the risks of over-leveraged positions in volatile markets, emphasizing the need for projects with robust fundamentals like DTX Exchange.
Market Outlook: What’s Next For XRP and DTX?
The coming weeks will be critical for both XRP and DTX Exchange as the market seeks to stabilize. For XRP, breaking the $2.50–$2.60 resistance range is key to igniting a new rally. DTX, on the other hand, remains well-positioned to thrive regardless of market conditions. Its focus on scalability and real-world utility gives it a competitive edge, particularly as traders look for stable, high-growth investments during uncertain times.
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