The crypto market shot up during the US election. With Trump announced as the winner, experts believe a “sell the news” scenario might play out, triggering a Shiba Inu (SHIB) and Ripple (XRP) sell-off.
Meanwhile, traders have been betting on DTX Exchange (DTX), a new altcoin with significant upside potential. This emerging cryptocurrency stands at the crossroads between TradFi and DeFi, with plenty of room to run as a low-cap gem.
DTX Exchange (DTX): A New DeFi Project Worth Betting on?
DTX Exchange (DTX) is the latest on investors’ watchlists—perhaps the best new crypto to invest in. Its upside potential is one of its many attractions, alongside its solid fundamentals as a hybrid trading platform.
Its one-stop trading platform aims to bridge the gap between traditional financial systems and the crypto world. It will allow the trading of diverse assets across TradFi and DeFi—more than 120,000.
Aiming to reshape the $3.2 billion global trading market, it is poised for massive adoption, driving huge interest and demand. Over $6.7 million has been raised in early funding, with a token priced at $0.08 in the fourth round. Meanwhile, its 65x upside potential makes it a better alternative than Shiba Inu (SHIB) and Ripple (XRP)—one of the best cryptos to invest in.
Shiba Inu (SHIB): MACD Level Points to a Downturn
Shiba Inu (SHIB), the leading dog-themed memecoin on the Ethereum blockchain, is one of the best altcoins. Its attraction revolves around its memetic appeal as the most popular ETH memecoin. It further stands out due to its vibrant ecosystem and active community.
Meanwhile, the buzz around the US election has sparked market demand, with memecoins leading this charge. Reflecting bullish sentiment, the Shiba Inu price printed a green candle in the past 24 hours, up over 10% and retailing above $0.000019. However, the price can easily plummet as quickly as its upswing.
With the MACD level (12, 26) at 0.00000015, suggesting a sell signal, a significant Shiba Inu (SHIB) dip isn’t out of the question. Hence, savvy investors are cautious until a winner is announced in the US election—one of the altcoins to watch out for.
Ripple (XRP): Is Uptick a Flash in the Pan?
Ripple (XRP) is a popular altcoin; one of the top 10 cryptocurrencies. It is one of the fundamentally solid altcoins, facilitating cross-border transactions and payments. However, its legal tussle with the US SEC continues, plunging it into uncertainty.
Ripple’s (XRP) performance this year has been underwhelming—a 20% decline on the yearly chart. However, the XRP price soared over 5% in the past 24 hours and trades above $0.53, which top analysts believe might be a flash in the pan.
Moreover, technical indicators like the exponential moving average (50) and the simple moving average (50) are at 0.53738 and 0.54736, respectively, suggesting selling. With a pullback not out of the question given the market’s volatile state, traders are advised not to throw caution to the wind.
Conclusion
The US election uncertainty could trigger a Shiba Inu (SHIB) and Ripple (XRP) sell-off. This makes DTX Exchange (DTX), an emerging cryptocurrency with substantial growth prospects, a favorite among traders. With adoption imminent, it is arguably the best new crypto to invest in.
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Source: https://coincu.com/290777-shiba-inu-shib-and-ripple-xrp-sell-off-post-us-election-traders-double-down-on-dtx-exchange-instead