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TLDR
- XRP delivers a disappointing performance with a decline despite the market trending in a bullish direction.
- The total crypto market cap hits $1.79 Trillion after positive price action and investment influx.
- Investors look towards Algotech (ALGT) as a better alternative to Ripple (XRP) and Polygon (MATIC).
Despite the massive positive movement of the overall crypto market, projects like Polygon (MATIC) and Ripple (XRP) have failed to deliver the same level of growth. According to data from CoinMarketCap, XRP is currently down 0.64% to $0.523 despite the overall market experiencing a major bullish surge.
The pattern is consistent with the long-term performance of these projects that have failed to deliver up to expectations. Investors on social media platforms are actively expressing doubts about the direction of these projects and exploring better avenues. In comparison, the total crypto market cap is up 0.35% to $1.79 Trillion.
Let’s try to explore the reasons why XRP and Polygon are under significant market pressure.
XRP Price Under Significant Selling Pressure as Major YouTuber Sells Portfolio
Popular crypto YouTuber Tim Warren recently revealed that he was considering the sale of his XRP holdings. Aside from the lackluster performance of the project, he cited the lack of consumer interest as a key reason behind the sale. Additionally, the prospects of Ripple’s IPO were another key factor cited by the YouTuber.
Other leading experts also agreed with the trend and suggested Chainlink (LINK) as a significantly better replacement for the legacy project. It is clear from on-chain metrics that XRP is consistently trending downward, and investors are starting to look toward better projects.
Investors Excited About Upcoming Algotech (ALGT) Roadmap
Despite only being 12 days into the presale launch, Algotech (ALGT) has already excited the crypto world with its exciting roadmap. The project is expected to offer cutting-edge features for traders, including high-volume algorithmic trading, mean reversion, and hedging.
The project has already proven to be a frenzy with private investors after a shocking $1.1 Million private seed round within two days. According to leading analysts, the token price could go from the current $0.04 to over $1 within a few months once the token is listed on a major exchange.
A key reason why Algotech (ALGT) has attracted headlines is because of the platform’s deflationary tokenomics. The limited supply is rapidly running out and is expected to result in a supply crunch. The analyst termed the project as “a powder keg waiting to explode”.
For more details about this project:
Visit Algotech Presale
Join The Algotech Community
Source: https://finbold.com/analyst-explains-why-investors-are-ditching-ripple-xrp-and-polygon-matic-for-algotech-algt/