Top Projects This Month: Ethereum (ETH) Gets Whales, PlutoChain Grows And Ripple (XRP) Spikes

XRP and Ethereum are continuing their December rally and showing the rest of the market why they’re regarded as the top altcoins. 

XRP continues to make significant progress in global payments, while Ethereum remains the backbone for dApps and smart contracts.

Below, we’ll take a look at their technical charts and data to see what’s possible for them going into 2025.

We’ll also cover PlutoChain ($PLUTO), a new project that may be stepping into the spotlight with its hybrid Layer-2 innovation that could significantly improve Bitcoin’s functionality.

Let’s break down what’s happening.

PlutoChain ($PLUTO) Could Introduce Smart Contracts to Bitcoin via a Hybrid Layer-2 Network

PlutoChain ($PLUTO) introduces a robust Layer-2 solution that could bring smart contracts and decentralized apps to Bitcoin’s blockchain and upgrade its functionality.

Its testnet, already processing over 43,000 daily transactions, shows impressive scalability and potential for widespread use.

A key aspect of PlutoChain is its focus on community governance, giving participants a voice in protocol updates and the network’s growth.

The project also prioritizes trust, having passed three independent audits from SolidProof, QuillAudits, and Assure DeFi to prove its reliability.

Another major benefit is Ethereum Virtual Machine (EVM)compatibility, which could merge Ethereum’s flexibility with Bitcoin’s security.

This could enable Ethereum-based applications to integrate more smoothly with Bitcoin’s network, potentially creating opportunities for DeFi, NFTs, and AI-driven solutions. It might also help position Bitcoin for a more prominent role in emerging technologies.

Ethereum Is Seeing Increased Whale Activity – What Does the Technical Data Say? 

Ethereum (ETH) has recently experienced significant price movements, driven by increased whale activity and technical factors.

As of December 19, 2024, ETH is trading at $3,625.58, reflecting a 6.4% decrease from the previous close.

The Relative Strength Index (RSI) currently stands at 64.94, indicating bullish momentum but approaching overbought territory.

The Moving Average Convergence Divergence (MACD) has recently triggered a bearish crossover.

Key support levels are identified at $3,900 and $3,862, with resistance at $4,100 and $4,250. A breakout above these resistance levels could propel ETH toward $4,500, while failure to maintain support may lead to a decline to $2,000.

Whales are currently controlling approximately 57.35% of the total Ethereum supply. According to Santiment data, 104 whale wallets hold this right now.

If Ethereum can break through the $4,100 resistance, it may test the all-time high resistance of $4,868.

XRP Going Through a Short Dip After the Recent Price Spike

XRP is currently trading at $2.33 as per CoinGeko, with a 4.8% drop in the last 24 hours after last week’s spike.

The Relative Strength Index (RSI) is at 64.94, showing strong momentum but nearing overbought levels. The Moving Average Convergence Divergence (MACD) has recently crossed bearish, hinting at possible short-term drops.

Crypto expert, Armando Pantoja, says if XRP breaks $2.50, it could test the all-time high at $2.90. But if it loses support at $2.20, it might dip to the 200-hour EMA at $2.19.

Final Thoughts

Although Ethereum and XRP are gaining momentum, it’s still not clear whether they could reach any massive new milestones in 2025.

At the same time, we have new projects like PlutoChain that could gain major buzz in the next few weeks with its robust technology.

With a Layer-2 network, affordable transaction fees, and robust security, it may be a promising project to keep an eye on once its mainnet goes live.

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This article is not financial advice. Past results are not indicative of future returns, and the crypto market is inherently unpredictable. Readers must conduct their own thorough research before purchasing any crypto coin or token. These forward-looking statements are subject to risks and may remain unchanged.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.