Solana and XRP Dip Amid Broader Downturn Momentum as Lunex Network Presale Heats Up

XRP's price slumped by over 10% after a recent breakout attempt. This price slump has sparked discussions on the future value prospects of this altcoin

Solana and XRP Dip Amid Broader Downturn Momentum as Lunex Network Presale Heats Up

Solana, XRP, and Lunex Network have been making headlines recently. While Solana and XRP are established cryptocurrencies, Lunex Network is a new player in the market. Here's a closer look at each:

Solana, the fifth-largest cryptocurrency by market capitalization, has been hitting the news following Edward Snowden's comments about the Solana Network. In his remarks, he highlights how Solana managed to centralize everything for the sake of efficiency, which is why the blockchain is full of memecoins and scams.

Snowden's comments sparked discussions on Solana's decentralization status in the broader market, with some raising concerns regarding the coin's long-term sustainability given its development approach.

Solana Token Sell-Off Pressures

Solana's token has been facing sell-off pressures, encountering strong resistance at the $138 and $140 region. Moreover, Solana's trading volume is also in the red, recording a 19% outflow on its intraday charts. This has raised concerns of further downward pressure.

Solana's RSI is at 46, and its MACD signals a bearish sentiment. However, analysts have made cautiously bullish Solana price predictions, suggesting that if the price of Solana can breach its critical level, there would be a potential reversal.

XRP Price Slumps 11% After Failed Breakout Attempt

XRP's price has taken a hit after a recent breakout attempt, sparking speculations regarding the future price value of the altcoin, especially in the current downturn momentum in the broader crypto market.

The reason for this downtrend can be attributed to the appeal of the US SEC, where the regulatory watchdog has filed an appeal to challenge some aspects of Judge Torres' ruling. Another potential reason is the broader bearish market caused by recent Bitcoin ETF outflows and other macroeconomic factors, including the latest US PMI data.

While its price is on a downtrend momentum, XRP trading volume is up by 15%, reflecting increasing investor interest. Many market pundits have shared a bullish XRP price outlook, suggesting that the altcoin may be gearing up for a potential rally ahead.

For instance, a well-known analyst indicates that the XRP token is preparing for a rally, potentially soaring to $3 by the end of Q4. But, the current bearish market has dampened this optimistic sentiment.

Which Altcoin Can Give 50x Return by the End of Q4?

Solana and XRP have shown potential for growth, but Lunex Network's unique cross-chain exchange has drawn considerable investor interest amid the broader market downturn. As such, experts forecast a 50x rally post-launch.

To learn more about Lunex Network, visit their website, join their Telegram community, and follow them on X.

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