Toncoin Enters the Top 10 Rankings, Surpassing Cardano & Dogecoin; Is XRP Next?
Release: 2024/04/15 22:14 Reading: 447
The post Toncoin Enters the Top 10 Rankings, Surpassing Cardano & Dogecoin; Is XRP Next? appeared first on Coinpedia Fintech News
Toncoin price rally has been intensifying as the volume has surged rapidly, indicating a massive jump in the user’s interest. The recent jump in the price by over 10% has enabled it to surpass Dogecoin to become the eighth biggest crypto at the time of its composition. Now that the bulls continue to display acute strength, it’s time to analyse whether XRP’s position is under threat.
The token has experienced a remarkable rise in the past few days, with a notable surge in volume from around $100 million to levels above $800 million. Although the selling volume equated to that of buying, the bulls managed to hold the dominance to a large extent. The fractals continue to remain bullish and hence the price is expected to maintain a healthy upswing and mark new milestones in the coming days.
The bullish weekly close has pushed the token beyond the crucial resistance levels that it has held since the beginning. Also, the previous week experienced a huge influx of liquidity, the highest in history, which indicates the rising attention of bulls. Hence, it can be speculated that the TON price might maintain a healthy upswing for some more time, which may assist the rally in achieving a double-digit figure.
The RSI is bullish and above the upper threshold, which suggests the bulls may hold huge dominance and outpower the bearish hindrance. Although the RSI displays the possibility of a bearish pullback, the ascending trend line may act as a strong support, which may eventually trigger a healthy rebound and head towards upper targets beyond $10.
With this rise, Toncoin may eventually reserve its place within the top 10 as the other tokens have been displaying sluggish behaviour. Moreover, popular tokens like ADA, and XRP are trading sideways and the emergence of new tokens could pose a threat to them. Therefore, there are huge possibility of TON surpassing XRP if Ripple maintains a narrow consolidation.
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