Jakarta, Pintu News – The current market situation shows an optimistic yet cautious tone among investors. On May 13, trading volume briefly rose by 1.37% to $336.54 billion, reflecting increased activity and interest in crypto assets.
However, open interest actually edged down by 1.18% to $142.51 billion, which was likely due to position adjustments for short-term gains.
The average Relative Strength Index (RSI) currently stands at 54.71, indicating a neutral position that is slightly bullish. As the crypto market enters a new cycle characterized by cautious optimism, three major crypto assets-Ripple , TRON (TRX), and Dogecoin -are predicted to be the leaders in the next major bull cycle.
XRP has been through its fair share of drama, but hope is now growing that the hard times may be behind it.
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As of May 13, XRP ranks fourth by market capitalization and has recorded an incredible gain of 399% in the past year, with the current price sitting at $2.52. In fact, in the last month alone, XRP rose by 17.9%.
This rise was largely driven by the latest developments in Ripple’s long-running legal case with the SEC. After years of protracted legal proceedings, Ripple finally agreed to a $50 million settlement, much smaller than the SEC’s initial $2 billion demand.
Technically, some analysts see a symmetrical triangle pattern on the chart, which could signal a big move.
Some optimistic projections even predict that the price of XRP could reach $7 by the end of next year, of course, assuming that regulatory support for the crypto industry continues to strengthen.
Although not as popular as Bitcoin or Ethereum in the media, TRON has quietly continued to make great progress, especially in the stablecoin sector.
According to a report from CNF, the TRON Network now manages over $73 billion USDT, approaching Ethereum’s dominance in this regard.
Its main token, TRX, has seen a 111% yearly increase and is currently trading at around $0.266. Low transaction fees and high transfer speeds make TRON an attractive option for developers and Tether users.
According to crypto analyst Andrew Griffiths, if TRX is able to break the $0.28 resistance level, the price could potentially rise towards $0.35 or even $0.45. However, if the momentum does not hold, a price correction to $0.22 is still possible.
Dogecoin, once considered a joke in the crypto world, is now a major force with a market capitalization of $33 billion – far surpassing its competitor, Shiba Inu at $9 billion.
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Over the past year, the price of DOGE surged 58%, driven by increased institutional interest, positive regulatory developments, and a surge in large transactions.
What is fueling this optimism? A number of large institutional players such as 21Shares and Bitwise have submitted proposals to the SEC to launch spot-based DOGE ETFs. If approved, this could open the door to fresh fund flows from both retail and institutional investors.
Some analysts are even starting to project a DOGE price of $2 in the next bull cycle. It may sound ambitious, but it’s no crazier than the claim that Bitcoin could one day break $100,000 – and we now know that’s not impossible.
That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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