3 crypto to watch this week: Solana, Avalanche, XRP

The crypto market is currently optimistic, with many anticipating the approval of the first Bitcoin ETF in the United States. This positive sentiment has significantly impacted the market, increasing its capitalization by $366 billion since October. Established players like XRP and Solana (SOL) are adapting, while a new entrant, ScapesMania, offers a new approach.

The crypto sector might continue expanding in the days ahead. Subsequently, the below tokens could rise in sync.

ScapesMania: a new crypto contender

Multiple crypto experts are considering ScapesMania in 2023. Its holders can get revenue streams and potential gains in the ongoing presale. 

Companies and individual crypto traders looking for short- and medium-term potential gains can examine ScapesMania’s proposition. At the end of the presale, it will list at $0.01, which is higher than the coin’s current value. Presently, there’s an active discount of close to 85%.

ScapesMania’s tokenomics and features could explain why it is being considered an altcoin to consider. Their fresh gaming-related core idea, presale numbers, $100,000 giveaway, social media presence, and other aspects may support prices in the long run. 

Solana’s DEX volumes surging

Solana’s decentralized exchange (DEX) trading volume recently surged past $3 billion, with Orca and Raydium growing by 70%.

Despite a brief price dip, SOL remains in an uptrend, rising by 42% since early November.

At present, SOL is trading above $60 and resilient. SOL has been edging higher since mid-October, peaking at $68 and trading above the Exponential Moving Averages (EMA).

Looking ahead, SOL could extend gains. If prices remain above the 10-day EMA, there might be more growth in the short term.

Conversely, potential declines to the upper boundary of the Fair Value Gap between $48.94 and $50.99 could see the altcoin filling the gap before resuming its upward trajectory.

Avalanche: adoption and momentum increasing

AVAX is trading at $21.04, up 2X in one month.

The network has seen over six million non-zero addresses, indicating a growing adoption and network engagement.

Despite uncertainties in the market, such as Binance’s CEO resignation, AVAX is resilient, rising 4.1% in the last 24 hours. AVAX’s trading activity has also spiked, with daily volume reaching a six-month high.

However, sustaining this growth and navigating the volatile crypto market remains challenging.

While increased development activity and network transactions are bullish, the uptrend will continue if new users are attracted and retained.

XRP recovers amid legal challenges

Over the past week, XRP fell 6% due to an ongoing lawsuit with the Securities and Exchange Commission (SEC).

However, rumors exist of a possible settlement after a private meeting scheduled for Nov. 30. The conclusion might significantly impact XRP’s market position.

Presently, XRP is trading at $0.6105, and although it has experienced weekly losses, it has remained stable. The outcome of the settlement with the SEC is a significant factor that could affect its price in the short term.

A favorable settlement for Ripple could boost XRP prices.

However, the lawsuit and ongoing negotiations with the SEC are intricate and present significant obstacles.

The distribution of XRP by large wallet holders and retail traders will also play a crucial role in its price dynamics.

Conclusion:

The crypto market is expanding, and participants are optimistic. Each project has its unique strengths and challenges.

ScapesMania introduces a new perspective on crypto. Solana is cementing its position in the DEX scene, while Avalanche is gaining traction and acceptance in the market. Ripple is currently facing legal issues, but there may be a turning point ahead that could impact XRP’s position.

While the crypto market grows, it’s still essential to research and consider all options before investing.

Site: https://scapesmania.io/

Twitter: https://twitter.com/ScapesManiaTelegram: https://t.me/scapesmania