Stellar (XLM) and XRP upward rises appear to have come to a screeching halt as bears overcome bulls. Investors in both top altcoins have witnessed their short-lived gains diminish quickly, leaving them scratching their heads. However, there is some hope in the form of the newly launched VC Spectra (SPCT). The decentralized asset management tool is taking the market by storm and is projected to grow exponentially over the next few years.
Let’s see what is going on with XRP, Stellar, and VC Spectra.
Summary
- XRP hopes to bounce back from its recent slump as a date with the SEC looms.
- The Stellar price is fast sinking, threatening to wipe out all gains recorded over the past few months.
- VC Spectra’s 6X value boost is catching crypto investors’ attention.
Can XRP bounce back?
The crypto community was buzzing when XRP won its case against the SEC in July. The next few days would see XRP grow by over 127%.
However, news of the SEC appealing the decision sent panic within the XRP community, quickly sending the asset downward spiral. Since then, XRP has lost 39% of its value and has been trading sideways for the best part of the last month.
Anyone who intends to buy XRP will hope the altcoin can bounce back from its recent slump. As of October 21, XRP is trading around $0.51. Moreover, XRP is facing immediate resistance at the $0.55 level. So, analysts say a breach of that level will see the price aim to explore its mid-July high around the $0.85 area.
If the altcoin can find momentum at that level, it will be good news for those who intend to buy XRP. However, as things stand, XRP requires some positive developments to push the price past the immediate barrier it is facing.
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The RSI appears exhausted in oversold territory, and MACD will likely cross the signal line soon. All this means an immediate change in direction for the altcoin, which is great news for those who want to buy XRP.
XLM price suffers as investors lose interest in Stellar coin
Stellar XLM fortunes have become worse as the buzz surrounding one of the best altcoins dies down.
Stellar XLM rose over 161% from mid-June to mid-July following the altcoin’s striking partnership with MoneyGram that would see funds transferred across borders quickly and cheaply. However, the buzz has faded since then, leading Stellar XLM to lose its gains slowly.
As of October 23, Stellar (XLM) traded around $0.109. The altcoin has lost about 44% of its value since mid-July and is struggling to stay above the $0.105 support level.
A drop below that level will likely push the XLM price down to the $0.075 level. You have to go back four months to find the last time Stellar was trading at that level. The steady decline has left Stellar (XLM) investors looking elsewhere for certain gains. The next project covered below represents everything Stellar isn’t right now.
VC Spectra (SPCT): One of the best altcoins to invest in during the bear market
VC Spectra is creating a storm around the crypto market after growing over 6X in a span of a few months. The decentralized hedge fund and trading protocol aims to make crypto investment & trading more straightforward for its users.
VC Spectra (SPCT) leverages advanced technologies such as AI to identify promising blockchain projects at an early stage for crowdfunding. The profits generated from the investments are split among the owners of SPCT tokens.
The more VC Spectra tokens one holds, the bigger their share of rewards. This utility has incentivized investors to buy as many SPCT tokens as possible.
VC Spectra is amid the fourth presale phase, offering each token at the attractive price of $0.055, a bargain price and an undervaluation, say experts. This means those who invested in VC Spectra (SPCT) during the initial presale phase have witnessed a remarkable return on investment, surpassing 587%. More so, investors who buy now are in for above-average returns.
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VC Spectra plans to end its presale soon at $0.080 and list SPCT on major exchanges next, opening the possibility for further expansion and price appreciation. In addition, the platform is currently offering a momentous deposit bonus for all investors.
Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.
