RPL, SNX, XLM :Impressive Double-Digit Surges Defy Downtrend

• The total crypto market volume surges 16% in 24H.
• RPL surges 12% in the past 24H.

In the current bear market climate, where red charts seem to dominate, it’s a rare sight to witness a shift towards green. Attributing to it ,The global crypto market cap currently stands at $1.04 trillion, reflecting a marginal 0.06% decrease over the last day. Despite this overall dip, there’s an intriguing surge in the total crypto market volume, which has surged by a significant 16.32% in the last 24 hours, reaching $22.29 billion. Bitcoin’s dominance has experienced a slight decrease of 0.05% within the day, settling at 48.33%. What’s particularly fascinating is, a select group of cryptocurrencies has managed to achieve remarkable double-digit gains, bucking the downward trend set by Bitcoin, Ethereum, and the majority of altcoins.

Stellar (XLM)

XLM has experienced an 8% surge over the past 24 hours. After a month of high volatility that included a 13% decline, it is now showing signs of recovery, with a 3% surge in the past 7 days. Currently priced at $0.123, XLM is still 86.91% away from it’s all-time high set six years ago. Notably, the trading volume has witnessed a remarkable 173% increase, and the market capitalization has surged by 7.10% in the past 24 hours. Looking at its daily price chart, it’s evident that the bulls are in control, and the RSI stands at 48, indicating that it is approaching an oversold condition. Sources suggest that Stellar has teased “something cool” to be released within 10 days from September 2, creating anticipation within the Stellar community, potentially driving this surge.

Synthetix (SNX)

SNX, the native token of the decentralized liquidity platform Synthetix, experienced an impressive 11.32% increase on Monday, coinciding with significant outflows from the leading digital assets exchange, Binance. Over the past 24 hours, trading volume has soared by more than 250% to reach $96 million, according to CoinMarketCap. Notably, a newly-created wallet withdrew $7.7 million worth of SNX tokens from Binance, and this action also prompted a 17.5% surge in livepeer tokens (LPT), totaling $3.9 million. The market capitalization of SNX has risen by 11.43% in the past 24 hours. Analyzing its daily price chart, it’s clear that the bulls are in a strong position, and the RSI is at 52, indicating a neutral market sentiment.

Rocket Pool (RPL)

Today’s top gainer in the crypto market is Rocket Pool, with an impressive 12% surge. After enduring a bearish month with a 15% decline and relatively flat chart patterns in recent weeks, RPL finally turned green today. The trading volume witnessed a significant surge of 278% in the past 24 hours, reaching $105 billion. RPL’s current price stands at $2.22, still 92.32% below its all-time high. Analyzing its daily chart, it’s evident that bullish momentum has returned after a month-long wait, with the RSI at 46, indicating it is approaching oversold conditions.

In summary, while the overall crypto market may be facing challenges, certain cryptocurrencies like Stellar (XLM), Synthetix (SNX), and Rocket Pool (RPL) have shown remarkable resilience and notable surges, driven by various factors and market dynamics.