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Monthly Analysis: Ripple Among Month’s Top Gainers Ahead of SEC Victory as XDC Dominates

source-logo  blockchainreporter.net 31 July 2023 18:59, UTC

Bitcoin (BTC) analysis

This month has had quite different stats, with most assets making gains over the 31 days while others failed to post gains. Bitcoin (BTC), the number one crypto in the world, could not post gains this month as the asset now trades 3% below its previous 30-day price as it now trades at $29.2K.

Bitcoin’s volatility levels have been relatively high, as seen from the Bollinger bands movements, which have been far apart according to the monthly charts. The RSI is, however, moving above its average line showing bull dominance over the month as the MACD indicator also shifts to the green zone.

BTC 1-day chart | Source: Tradingview

Ethereum (ETH) analysis

ETH has also failed to post gains over the month as the asset ends the month trading 0.9% below its previous 30-day price, as the asset’s spot price now stands at $1,859 as of press time. Eth’s volatility levels have also been high over the month, as shown by the Bollinger bands.

The relative strength indicator also moves above the average line showing that bulls dominated most of the month as the MACD also approaches a shift over to the green zone, again showing bull dominance.

ETH 1-month chart | Source: TradingView

Ripple (XRP) analysis

XRP is among the month’s top gainers as the asset now trades 48% above its previous 1-month price, holding a spot price of $0.69. This price has increased this much due to the Ripple victory over SEC’s security allegation that saw XRP rally.

However, XRP’s volatility levels have been stable over the month, as sown by the Bollinger bands. The RSI moves above its average line showing great bull dominance over the month, while the MACD also moves in the positive region.

XRP 1-month chart | Source: TradingView

Maker (MKR) analysis

MKR is another top gainer this month as the asset now trades 48% above its previous 31-day price, as the token now retails at $1,241 and currently sits among the top monthly gainers. MKR’s volatility levels have decreased over the month as the Bollinger bands gradually converged.

The RSI is also above its average line showing the dominance displayed by bulls over the month as the RSI also moves in the positive region again, showing bull dominance.

MKR 1-month chart | Source: Tradingview

XDC Network (XDC)

XDC, as of writing, was our top gainer of the month, as the asset almost doubled within 30 days. Trading at $0.0608 as of press time, XDC had seen a monthly gain of 93% as bulls dominated the network.

XDC’s volatility levels have been dropping as the Bollinger bands converge towards each other while the RSI moves above its average line showing great bull dominance as the MACD also shifts to the green zone.

XDC 1-month chart | Source: TradingView

Other monthly gainers

Other notable gainers this month have been Dogecoin (DOGE) which now trades 15% above its previous 30-day price with a retail price of $0.07818 as of press time, while Stellar (XLM) also trades 44% above its last 31-day price as it now trades at $0.1541. Compound (COMP) has also gained 18% in valuation over the month as the asset trades at $68.12.

blockchainreporter.net