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XRP leads the cryptocurrency market cap but faces significant challenges, dropping 10.6% amidst rising volatility ahead of Donald Trump’s anticipated “Liberation Day” on April 2.
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SUI showcases resilience with a weekly gain of 3.8% despite prevailing bearish trends, although a recent death cross suggests potential price corrections may be on the horizon.
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In stark contrast, Pi Network suffers a dramatic plunge exceeding 23%, trading below the $1 mark for the entire week, raising concerns of a deeper correction towards February lows.
This week sees mixed signals in the crypto market. XRP drops significantly, while SUI gains slightly, and Pi Network faces steep losses.
XRP’s Market Position and Volatility Ahead of Major Events
XRP remains the largest cryptocurrency in the Made in USA category by market capitalization, despite its substantial decline of 10.6% over the past week—the most considerable drop among the top cryptocurrencies. This decline coincides with heightened market volatility, particularly as Trump’s “Liberation Day” approaches on April 2, prompting speculation among investors.
As the cryptocurrency battles downward pressure, it may present an opportunity for discerning investors. Should XRP successfully establish an upward trend, it could test resistance levels at $2.22. A breakout beyond this point would likely catalyze further movement towards $2.47, and potentially $2.59, if buying momentum intensifies.
In the event of continued bearish pressure, XRP might retrace to the support level at $2.06, with a breakdown below this threshold risking a deeper pullback to around $1.90.
With the market showcasing increasing volatility and potential narrative shifts, XRP is anticipated to be a focal point in trading discussions this week.
SUI’s Resilience Amid Market Weakness
SUI has made a notable impression in the Made in USA crypto segment, reporting a 3.8% increase over the past week even as it has contracted by 13% in the preceding month. This uptick in price stands out against a backdrop of broader market declines, signaling potential investor confidence.
However, trading volume has decreased by 15% in the past 24 hours, settling at $767 million, and the current market capitalization is pegged at $7.43 billion.
Recent technical indicators reveal a concerning death cross in SUI’s EMA lines, suggesting a possible trend reversal could be imminent. If downward momentum persists, prices may fall to $2.23 initially, with further assessments possible at $2.11 and $1.96 levels.
Conversely, if SUI manages to reverse this trend, traders could look for a climb towards $2.50. A decisive breakout from this point could facilitate movement to $2.83, indicating a potential 20% upside from current price levels.
Pi Network’s Struggles and Bearish Outlook
Pi Network (PI) has found itself in a precarious situation, emerging as the biggest decliner among made-in-USA cryptocurrencies with a staggering over 23% drop in the last week.
Throughout the week, PI’s price has consistently traded below the $1 mark, raising serious questions about its short-term viability amid a slew of bearish sentiments.
Should market sentiment shift positively, PI may aim to rebound towards resistance at $1.05. Achieving a breakout at this level could potentially draw the price up to $1.23.
However, if prevailing bearish conditions continue, PI may retrace to test critical support levels at $0.718, with a dangerously low drop towards $0.62 in sight—the lowest price since February 21.
Conclusion
In summary, the Made in USA cryptocurrency market illustrates a complex landscape as April unfolds. XRP’s volatility, SUI’s resilience, and Pi Network’s declines provide a neutral but insightful overview of market dynamics. Investors are urged to remain vigilant, as movements within these assets could indicate broader trends affecting the cryptocurrency market in the near future.
