XRP News Today: CWT Presale Hits $5.8M as XRP Slides 2.5% and CRO Rises 74%

The cryptocurrency market is showing divergent price trends, with Cronos (CRO) and XRP moving in opposite directions, while Cold Wallet (CWT) continues to attract attention with its low presale price and projected returns [1]. CRO is currently trading at $0.1347, supported by a golden cross and bullish pennant pattern, with traders eyeing a potential breakout toward $0.20. The token has already gained 74% from its yearly low, with $0.1498 identified as the next key resistance level [1]. Network metrics also support this optimism, including a rise in stablecoin supply to $178 million and a $142 million daily volume on decentralized exchanges in July [1]. Meanwhile, reports of ETF filings from entities like Crypto.com and Canary Capital are adding to the bullish sentiment [1].

On the other hand, XRP has weakened following a significant 720 million XRP dump, pushing its price below the $3 level to $2.96 [1]. A 2.5% drop in a single day erased over $5 billion in market value and increased bearish pressure. Technical indicators such as the MACD bearish crossover and MVRV death cross suggest further downside risk, with true support likely forming near $2.40 [1]. While a minor support level exists around $2.80, the current price action reflects bearish control, with the Relative Strength Index (RSI) nearing but still above the critical 45 threshold [1].

Amid these volatile price movements, Cold Wallet’s CWT token stands out with its utility-focused model. Unlike traditional wallets, CWT aims to convert gas fees into gains for users, addressing a persistent issue in decentralized finance (DeFi). At Stage 17 of its presale, the token is priced at $0.00998, and with over 691.23 million tokens sold, the presale has raised more than $5.8 million [1]. The token is projected to reach a listing price of $0.3517, which would result in a 3,632% return for early contributors [1]. Beyond price, the token offers built-in gas fee reductions and earning mechanics, positioning it as a functional asset rather than a speculative one [1].

The CWT model is attracting attention as it offers a solution to the high transaction costs that deter DeFi participation. By repurposing gas fees into user gains, Cold Wallet is creating a novel value proposition that aligns with broader efficiency goals in crypto. This approach differentiates it from market swings affecting tokens like CRO and XRP, where outcomes remain uncertain [1].

Source:

[1] At Just $0.00998, Cold Wallet Turns Gas Fees Into Gains! XRP Slips & Cronos Stalls, https://coinmarketcap.com/community/articles/68980c55f34e2248a5748bfc/