The highly anticipated launch of the SUI ETF faces delays, sparking uncertainty in the market. Meanwhile, the chances for an XRP ETF have suddenly increased, catching the attention of investors. This shift could have a significant impact on the prices of SUI and Ripple (XRP) this month. The article delves into which cryptocurrency might be poised for growth. SUI Market Shifts: Past Declines and Key Levels Signal Future Moves Over the past month, SUI has shown a modest decline of around 6.72% and a steeper drop of 24.33% over the last six months. The coin experienced a weekly loss of about 11.38%, emphasizing the downward pressure witnessed during recent trading sessions. The price action indicates a period of underperformance, with overall market sentiment tilting toward risk-off as sellers have maintained control. Historical price drops have created a cautious trading environment that reflects the volatility often seen in emerging altcoins. Current levels show SUI trading near a resistance point of $4.77 and a support level at $2.29, with further resistance at $6.01 and additional support down at $1.05. Bears seem to hold the upper hand as momentum indicators register negative figures and the RSI stands below neutral. No clear upward trend emerges in the short term, but trading interest may pick up if prices manage to consolidate between these key levels. Buyers awaiting a dip near the support levels might look to accumulate, while sellers are poised to take profits near resistance points, offering opportunities for short-term plays. XRP: Balancing Modest Gains with Extended Declines XRP experienced a moderate one-month gain of 3.57%, contrasted by a one-week decline of 2.93%, indicating recent bearish pressure. Over the past six months, the asset saw a notable drop of 9.13%, reflecting a challenging market environment and fluctuating sentiment among investors. Current trading shows XRP ranging between $1.95 and $2.53, with key levels in focus. Resistance at $2.88 may limit upward movements, while support at $1.73 offers a potential buying opportunity if prices fall. Indicators like the Awesome Oscillator and Momentum suggest slight bearish dynamics, with the RSI around 44.539 indicating a lack of strong bullish momentum. Despite recent modest gains, bearish signals persist from the longer-term decline. Careful monitoring of trading around these levels is essential for identifying potential reversals or breakouts. Conclusion The postponement of the SUI ETF might lead to a short-term decrease in its price due to reduced market confidence, as investors react to delays. In contrast, the rising odds of an XRP ETF approval have given a significant boost to Ripple (XRP) prices. Increased investor interest in XRP is expected, resulting in more upward momentum. This month might see SUI under pressure while Ripple enjoys a favorable outlook, with XRP potentially experiencing notable gains. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
