XRP surges 15.74% weekly as Hyperliquid and Arbitrum face declines
1min read The U.S. Crypto Summit, while highly anticipated, may not deliver the expected market momentum. Critics suggest that the event is more about optics than driving fresh investment, potentially leading to a letdown despite its high-profile guest list and promises of regulatory clarity. The summit's ability to overcome entrenched market challenges is also in question. However, as investor sentiment falters, certain digital currencies are poised to thrive.
XRP has shown steady growth, with a modest 0.56% gain over the last month following a 384.67% surge over the past six months. A notable weekly rise of 15.74% indicates a consistent upward trend, building a strong foundation for potential growth. The current price lies between $1.60 and $2.88, with immediate resistance at $3.61 and support at $1.06. A secondary resistance level appears at $4.89. Market activity shows a balance between bulls and bears, resulting in no clear long-term trend. Traders might consider targeting movements within these established levels for potential breakout opportunities.
Hyperliquid has experienced a one-month decline of 36.27%, contrasting with a six-month surge of 60.34%. A weekly drop of 23.43% underscores short-term weakness. Price movements show a mix of losses alongside a solid long-range build, highlighting sharp corrections followed by notable rallies over the extended period. Trading is currently between $15.17 and $26.59, testing key support at $10.41 and resistance at $33.24. Bearish indicators are prevalent, with negative momentum and an oversold RSI at 32.13 suggesting selling pressure. A clear trend is absent, creating uncertainty in market direction. Traders might consider buying on dips if support holds, targeting resistance levels for potential gains.
Arbitrum’s performance reflects a 15.07% drop over the last month and an 18.98% decline in the past six months. The coin has steadily slipped with a one-week decrease of 4.38%, underscoring a period of continued weakness and downward momentum. Price action over these periods highlights a clear bearish trend. Currently, arb trades between $0.30 and $0.60 with immediate resistance at $0.78 