5 Top Cryptos For The Week: HBAR, QNT, TRX, OP, XRP

cryptocurrencies voice of crypto
cryptocurrencies voice of crypto

Key Insights

  • The crypto market has been in a downtrend, with Bitcoin dropping by more than 107% in a single day.
  • However, some cryptocurrencies have been performing relatively well, such as Hedera (HBAR), Quant (QNT), Tron, Optimism (OP), and XRP.
  • HBAR is one of the least affected coins on the market, with only a 6% decline over the last week.
  • Quant has been one of the best-performing cryptocurrencies this week, with only a 2.7% decline.
  • Tron is one of the most resilient coins, with less than a 4% decline over the last seven days.
  • Optimism has only declined by 2.2% over the last week and is on the verge of a bullish crossover.

Last Thursday, Bitcoin recorded one of the biggest daily drops of 2023, when it dropped by more than 107% in a single day, and lost more than $2,000 of its value.

With the larger part of the crypto market recording unimpressive price action, the global crypto market cap sits at $1.05 Trillion and is only a hair length away from dropping below.

The fear and Greed index | source: <a href='https://coinmarketcap.com/' target='_blank' rel='noreferrer noopener'><u>CoinMarketCap</u></a>
The fear and Greed index | source: CoinMarketCap

The fear and greed index on the market also sits at 35, which is a considerably strong amount of fear.

To put things lightly, the crypto market is a complete sea of red as it is.

Hope Under The Crypto Hood

Okay, now what?

We have established that the crypto market's performance is nothing to write home about.

However, if we take a look at some other metrics asides from price, we can see that some coins have been performing relatively well, while others even have prospects of recovering faster than others.

In this article, we will be going over five coins in the market, that deserves a spot as one of the top cryptocurrencies of the week.

Let's not waste further time. The top coins in no particular order, are:

1. Hedera (HBAR)

Priced just under $1, Hedera is one of the least affected coins on the market, in terms of the last dump.

CoinMarketCap data even shows that Hedera is only down by about 6% over the last week, compared to others like Uniswap, Chainlink and Bitcoin Cash with more than 20% in dips.

Hedera's performance
Hedera's performance

Hedera has demonstrated some of the strongest forms of resilience in the market despite odds and deserves a spot as one of the best-performing coins this week.

HBAR's performance
HBAR's performance

Just like Tron, HBAR managed to stay within a price curve that has been valid through 2023.

However, while HBAR broke through its 200-day (red line) moving average, its 50-day MA (blue line) quickly stepped in and managed to hold it up.

2. Quant (QNT)

Quant, the native cryptocurrency of the Quant network, has been one of the best-performing coins this week, in terms of price action.

While the crypto market's dip did a number on several altcoins and Bitcoin itself, Quant stood its ground and is only down by about 2.7% over the last week.

Quant's performance
Quant's performance

When the crypto market went down, Quant followed suit; The cryptocurrency dropped from about $100 to about $92 in under one day.

Quant's performance
Quant's performance

However, Quant got right back on its feet, breaking the $96 barrier to the upside and continuing its former price action.

Quant is currently below both of its major moving averages. However, the cryptocurrency's quick recovery makes it one of the best-performing assets on the market this week.

3. Tron (TRX)

Tron, a decentralized blockchain with smart contract functionality, and a proof-of-stake consensus mechanism is one of the most resilient coins, despite the massive crash that shook the market.

Tron's performance
Tron's performance

According to CoinMarketCap, Tron has shown an almost bulletproof resolve, when compared to several other top coins.

Tron is one of the least shaken cryptocurrencies on the market, with less than a 4% dip over the last seven days, despite how severe the last dip turned out to be.

Tron's price performance
Tron's price performance

As illustrated above, Tron managed a clean bounce off $0.07, while managing to stay above its 200-day moving average (red line).

In terms of resilience, there may be no competition with Tron this week.

4. Optimism (OP)

Optimism's price performance is exactly what its name sounds like.

According to CoinMarketCap, the cryptocurrency only declined by about 2.2% over the last week.

Optimism's performance
Optimism's performance

As far as price performance goes, this makes Optimism one of, if not the best-performing cryptocurrencies on this list.

Optimism's price action
Optimism's price action

Optimism declined straight down to $1.23 along with the rest of the crypto market.

However, the cryptocurrency was also quick to get back up.

Before long, it had broken through its 50-day moving average and is now on the verge of a bullish crossover between MACD and the signal line on its RSI.

Not only is Optimism a star cryptocurrency this week, but it also has interestingly bullish prospects for the coming week.

5. XRP

XRP is the least impressive on this list by far, in terms of price.

However, XRP is leading in terms of other metrics.

For example, XRP is being closely watched by everyone, as we await the final judgement on the ongoing dispute between Ripple and the US Securities and Exchange Commission (SEC).

Investors strongly believe that Ripple is going to win, and will drive XRP up to new heights.

XRP's price chart
XRP's price chart

At the time of writing, XRP is trading at $0.51, with a $27 billion market cap at the time of writing.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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