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XDC is currently trading at $0.05933100, a slight decrease of 3.06% in the past 24 hours (press time) - 2
XDC rose 42.14% in the past week and has a market cap of $821.891 Million. - 3
XDCUSD’s mean trading volume for the past 24 hours is $79.542K and the last 10 days’ trading volume is 1.872 Million.
XDC coin is the native utility token of the XDC Network, a hybrid blockchain platform that aims to provide efficient and secure financial services to its users. The XDC token enables settlement, liquidity, and interoperability within the network, as well as powering various decentralized applications (DApps) built on the platform. The XDC Network boasts fast transactions, low fees, and high scalability, as well as compatibility with the Ethereum Virtual Machine (EVM) and the ISO 20022 standard for global payment messaging.
XDC coin was the top performer according to CoinMarketCap on July 25, 2023, with a 21% price increase, reaching $0.06. The coin has been on a rising trend since July 20, when it was trading at $0.03. Some of the factors that may have boosted the price movement include the launch of the Authenticity Guarantee for streetwear on eBay using the XDC Network, the collaboration with R3 Corda for interoperability, and the integration of Chainlink’s Oracle network.
XDC Network Technical Analysis
XDC price is above the 50 and 200 SMAs, indicating a bearish trend. The price may continue to rise in the upcoming week if the buyers maintain the pressure. A Bullish cross was seen on the chart. The coin price may slow down for some time because of a sudden price hike.
The MACD indicator also shows a downtrend. The MACD line at 0.00699173 and signal line at 0.00468033 is beyond the zero line, implying that the MACD is in the positive zone and is giving bullish signs.
The current value of RSI is 76.50 points. The 14 SMA line is currently in the overbought zone, around 71.45 points which indicates optimistic sentiments in the market.
Summary
XDC coin has performed well in the past week, reaching a new all-time high of $0.06. The coin price benefited from several positive developments and partnerships that have increased its adoption and utility. The technical indicators suggest that the coin is still in a bullish trend but may face some resistance or correction in the near future. Investors should be cautious and watch out for any signs of reversal or consolidation.
Technical Levels:
- Support – The current support level is $0.05244588.
- Resistance –The current resistance level is $0.07831927.
Disclaimer
The research given in this article is for informative and educational use only. Do not take this information as a financial or trading recommendation. Trading and investing have financial risks. Before creating any investment or trading decision, please consider your risk profile and circumstances.
Source: https://www.thecoinrepublic.com/2023/07/28/xdc-network-xdc-udc-will-xdc-token-price-reach-10/