While SUI and Ripple (XRP) are facing losses, an emerging star is here and stealing the spotlight for all the right reasons.
As SUI and XRP continue to experience losses, a new cryptocurrency is emerging and quickly gaining attention for all the right reasons. Meet IntelMarkets (INTL), an AI-powered project that's taking the crypto trading world by storm with its revolutionary approach.
But what exactly is it about IntelMarkets (INTL) that's got everyone talking and driving investors wild? Well, let's dive into the INTL phenomenon and see why it's making SUI and XRP look over their shoulders.
Meanwhile, XRP's breakout potential remains in focus as it attempts to break past $0.61.
For the majority of the month, Ripple's XRP has been fluctuating within a narrow trading range. The cryptocurrency has faced difficulties in breaking through the $0.61 resistance since August 9 and has continuously found support at $0.58. This range-bound trend has brought XRP to a crucial juncture, with traders observing for signs of a breakout or a breakdown.
However, there seems to be a glimmer of hope as XRP is currently trading above several key moving averages. At the moment, the cryptocurrency's price is positioned above both its 50-day SMA and 20-day EMA. These indicators are crucial for assessing both short- and long-term trends.
Trading above these moving averages indicates that despite XRP's sideways pattern, positive sentiment still seems to be prevailing over bearish forces.
If XRP manages to break the current barrier at $0.61, it has the potential to reach $0.66. The possibility of such a rally is supported by the positive outlook in the futures market and the cryptocurrency's position above significant moving averages.
Sui (SUI) encounters headwinds, price drops 20%
After experiencing a massive surge, SUI token has encountered a sharp reversal, shedding half of last week's gains and dropping for three consecutive days.
Currently valued at $2.1 billion in the market, Sui (SUI) dropped to $0.90 on Wednesday, August 28, marking a 20% decline from its peak earlier this week.
The downturn came as Bitcoin (BTC) also lost steam and fell to $62,000. Other assets that surged following Jerome Powell's dovish tone also reversed, with the Nasdaq 100, S&P 500, and Russell 2000 indexes closing more than 30 basis points lower on Monday.
Like most tokens in the Binance launch pool, SUI, unfortunately, failed to live up to the hype, falling over 60% from its peak earlier this year. SUI still has a long way to go
IntelMarkets (INTL) – AI-Powered Revolution Poised for 50x Potential
Among the emerging cryptocurrencies, IntelMarkets (INTL) seems to be equipped with exceptional growth
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