Ripple’s XRP is down 5% on Tuesday after news of South Korea declaring martial law sparked a surge in selling activity and significant profit-taking among investors. However, whales have stepped up buying pressure as the XRP token looks to stage a recovery. Meanwhile, DTX Exchange’s presale round 6 makes headlines as investors invest millions into this $0.12 token.
XRP’s Rally Gets a Hit: Trading Temporarily Halts In South Korea
After its impressive rally in the past week, XRP briefly declined 7% on Tuesday following news of South Korean President Yoon declaring martial law. The news triggered panic selling among investors, with prices on Korean exchanges deviating from the general spot market.
XRP was one of the most affected among top cryptocurrencies, falling briefly to $1.89 on the South Korean crypto exchange Upbit. Upbit and Bithumb held the largest XRP reserve among centralized exchanges before temporarily halting trading. The decline is due to the region’s high concentration of XRP holders.
However, the remittance-based token is beginning to recover as its 24-hour trading volume has risen to $44.5 billion, only behind USDT and Bitcoin in the entire crypto market, per Coinmarketcap data. The volume is likely dominated by buying activity due to the recent recovery in XRP’s price from the $2.40 lows seen in the spot market earlier in the day.
Ripple’s XRP Sees Over $4 Billion: Whale Activity Sparks Excitement
While profit-taking has been rampant, with XRP investors realizing over $4 billion in profits in the past three days, whales have weathered the selling activity, steadily increasing their holdings in the same period.
Austin Reid, Head of Revenue and Business at crypto brokerage firm FalconX echoed a similar sentiment in an X post on Tuesday, stating that institutional accumulation is behind XRP’s rally. This is also evident in the Whale to Exchange Flow, which measures whale activity, reaching significant levels not seen since XRP was launched.
Meanwhile, Ripple investment products registered net inflows of $95 million, their highest weekly inflow, according to CoinShares digital assets weekly report. This comes as expectations grow around the SEC potentially approving applications for an XRP exchange-traded fund (ETF) in the US.
XRP is testing the $2.58 level of a key rectangle channel after sparking over $86 million in total liquidations in the past 24 hours, which is comparatively higher than Bitcoin’s, per Coinglass data. Liquidated long and short positions accounted for $41.74 million and $44.91 million.
DTX Exchange’s Extraordinary Presale Rally Approaches $10 Million
DTX Exchange (DTX) now ranks among one of the most successful presales of 2024 after raising over $2 million in a private seed round, $100,000 in a single-day raise, 175,000 unique token holders, and 95 million tokens sold. These statistics indicate that DTX Exchange (DTX) will more than likely complete presale round 6 before the estimated period.
This deFi platform has become prominent with its cutting-edge L1 blockchain technology and impressive presale performance. With its state-of-the-art infrastructure and top-notch scalability solutions, DTX Exchange (DTX) has gradually become a one-stop global crypto trading hub that offers up to 1,000x leverage and distributed liquidity pools.
DTX Exchange Pulls Investors With Premium Trading Features
As a robust crypto trading platform, DTX Exchange (DTX) equips traders with the most robust reference material at their fingertips. The platform offers a wealth of charts, graphs, and analytical tools, empowering investors and traders to make the best possible decisions and stay ahead of the curve in the volatile crypto market.
As Ripple’s XRP aims to continue a strong rally after a temporary halt due to Martial law, DTX Exchange (DTX) is well-prepared to break out as the next Solana in 2025. With its cutting-edge trading tools, DTX Exchange could potentially outshine Ripple (XRP) in the long run, given its powerful presale performance. Join now!
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