Toncoin enters the top 10, beating Cardano and Dogecoin. Is XRP next? First appeared on Coinpedia Fintech News
The Toncoin price rise is intensifying with a rapid surge in trading volume, which means that user interest has increased significantly. Its price recently surged more than 10%, surpassing Dogecoin to become the 8th largest cryptocurrency at the time of its formation. Now that the bulls continue to show strong strength, it is time to analyze whether XRP’s position is under threat.
The token has experienced a notable increase in trading volume over the past few days, from around $100 million to over $800 million. Even though selling volume was equal to buying volume, the bulls maintained their dominance to a large extent. As the fractal continues to remain strong, the price is expected to maintain a healthy upward trend and set new milestones in the coming days.
The optimistic weekly close pushed the token above the important resistance level it had been holding since the beginning. Last week also saw the highest liquidity inflows in history, indicating increased interest in the bulls. Therefore, we can speculate that TON price may maintain a healthy upward trend for some time, which could help the rally hit double-digit figures.
Also Read: TON Price Surpasses Dogecoin, Eyes XRP Enters Top 10
RSI is bullish and above the upper limit. This indicates that the bulls have a huge lead and can overwhelm the bearish obstacles. Although the RSI shows potential for a weak downside, the rising trend line could act as strong support, which could eventually trigger a healthy rally and head towards the upper limit target above $10.
This rise could eventually push Toncoin into the top 10, given the lackluster behavior of other tokens. Moreover, popular tokens such as ADA and XRP are trading sideways and the emergence of new tokens could pose a threat to them. Therefore, if Ripple maintains a narrow consolidation, it is likely that TON will outperform XRP.
Also Check: Toncoin Price Prediction: Will TON Token Reach $15 After Bitcoin Halving?