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XRP, ADA, MATIC, ETC, and AAVE Remain Bullish despite Broader Crypto Market Slump




VOC, Voice of Crypto, Crypto

Currently, the crypto market is experiencing extreme volatility as the Jackson Hole conference is underway in Wyoming USA. This annual conference of the Federal Reserve is expected to lay down the central bank’s plan for the next year. Fed chair Jerome Powell’s speech at 10:00 AM ET will likely impact the crypto markets and Bitcoin strongly.

According to Michael van de Poppe, the CEO of Eight Global and crypto analyst, Bitcoin must stay above $21K. If it manages to break $21.8K, it might be able to accelerate above $23K. However, even after a brief attempt to overcome $22,000, bitcoin has returned to a similar range between $21,000K and $21,500K. Most altcoins followed suit, except for XRP, ADA, MATIC, ETC, and AAVE, which have registered some gains.

XRP Jumps by 3%

XRP, the native token of the decentralized platform Ripple, has surged by over 3% to a daily high of $0.36.32 and is currently changing hands at $0.35. 

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XRP Price Chart| Source: CoinMarketCap

With a market cap above $35 billion, XRP is currently the industry’s 7th-largest asset. But, it is still down by 91% from its all-time high of $3.92 recorded at the beginning of Jan 2018.

ADA Continues to Shine

ADA, the native token of the proof-of-stake blockchain platform Cardano, has also tapped a small price gain of over 2.18% in the last 24 hours.

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ADA Price Chart| Source: CoinMarketCap

ADA is presently hovering at $0.47 with a market cap of $21B. Following this price spike, the trading volumes have also increased by 83.28%. 

MATIC Rides the Bullish Wave

MATIC has also surged by 1.59% in the last day. It currently trades at $0.83 with a 24-hour trading volume of $0.3M, up by 18.10%

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MATIC Price Chart| Source: CoinMarketCap

ETC Adds Minimal Gains 

Ethereum Classic (ETC), the hard fork of Ethereum (ETH), also gained momentum in the last 24 hours by adding nearly 1%. It is currently changing hands at $37.32 with a market cap of $7B

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ETC Price Chart| Source: CoinMarketCap

AAVE Soars by 4%

VOC, Voice of Crypto, AAVE

AAVE Price Chart| Source: CoinMarketCap

AAVE, the native token behind the decentralized finance protocol Aave has surged by over 3.82% and reached a high of $95.47 over the last 24 hours. AAVE is currently worth about $92.84 per token and has a 24-hour trading volume of about $227 million.

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)

Krutika is an experienced Crypto News writer and Technical analyst. With over 3 years of extensive crypto knowledge, she has written on various subjects, including Price analysis, Whitepapers, Metaverse, and other crypto-related topics.