After its massive rally in November, Ripple has been stuck in the red due to market uncertainty and delays in pro-crypto policies. However, seeing the growing interest in XRP ETFs, Ripple analysts say the XRP price is poised to thrive once regulatory pressures are reduced.
Also, FTX, the crypto exchange that filed for bankruptcy in 2022, will begin refunding small creditors on 18 February, with a 119% reimbursement of the amount claimed. This is expected to increase the inflow of funds into the market, and experts suggest it could trigger another XRP price rally to $5.
On the other hand, a new player in the exchange sector, DTX Exchange, is in the spotlight as it has raised $13.7 million through its presale in record time, becoming one of the most successful ICOs of the year.
Can The XRP Price Rally To $5 If Ripple Regains Demand?
Ripple has experienced some severe swings over the last month. The XRP price surged after breaking from the upper trendline of a symmetric triangle pattern, reaching January’s peak of $3.4. However, Ripple reversed from here as further upward movement was rejected at this level.
Source: CoinMarketCap
The XRP price has recovered over 10% in the last five days after rising from $2.26 support. Today, Ripple has gained 4.92% and trades at $2.52. Despite this surge, the daily trading volume has dropped over 17%, suggesting that this is a minor pullback for the XRP price and not a reversal.
The RSI is 43.64, meaning Ripple is in a neutral price zone. If the XRP price moves above the immediate resistance at $2.52, sufficient demand will be created to spark a bullish reversal and reach $5.
DTX Exchange: The First Hybrid Exchange
DTX Exchange is a comprehensive hybrid exchange that offers a one-stop solution to all trading requirements. With over 120,000 assets, it facilitates the trade of stocks, bonds, crypto, forex, etc., and provides up to 1000x leverage to all users.
Furthermore, DTX Exchange has enforced distributed liquidity pools to address liquidity issues. It accumulates funds from liquidity providers and external exchanges to ensure seamless asset transfers, providing users with reduced slippage and consistent prices even during high network activity.
Traders from all over the world can register on DTX Exchange anonymously as it has a no-KYC policy. This allows users to participate in the global financial markets despite restrictions set by some nations. Thus, everyone can use the platform to start their financial investment journey regardless of nationality or background.
Moreover, DTX has created a non-custodial environment, giving users complete control over their assets with private keys. Users can store all their assets in the native Phoenix wallet, which helps protect them from potential breaches and custody loss.
Make Quick Profits With The DTX Presale
DTX Exchange’s native token, DTX, is currently valued at $0.16 in the eighth stage of its presale. This is the final stage, and early investors have already made up to 700% returns through the presale surges. Those who missed out on this can still make a safe 25% return by strategically investing before the token launches at $0.20.
Final Thoughts
The XRP price could surge again and reach $5 with the next rally. However, experts predict that DTX Exchange, after listing on popular exchanges, could reach a multi-billion dollar market cap this year.
The total supply is fixed at 475,000,000 DTX tokens. Thus, early investors can expect to capture over 1,200% returns, as, by the time it reaches a $1 billion market cap, each DTX will be worth $2.1.
Find out more information about DTX Exchange (DTX) by visiting the links below:
