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XRP outshined by FTX token as Enjin coin struggles limply

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Over the past 24-hours, XRP, FTX token, and Enjin coin have all demonstrated different trends, with respect to each other. In fact, FTX token performed favorably with the bulls, in comparison to XRP and Enjin coin as the tokens noted a minor hike before falling.

Source: XRP/USD on Trading View

XRP’s charts noted a rising wedge pattern after the rise on 2 April, indicating a correction period. The token hiked by just 1.43 percent, while recording a trading volume of $2.29 billion. The market cap remained under $8 billion, at press time.

The Parabolic SAR implied bearish pressure in the market at the time of writing, a forecast that backed the correction period the XRP market was going through. Further, the RSI highlighted an increase in selling pressure as well.

Source: FTX/USD on Trading View

The FTX token blew everyone out of the water with a staggering 18.77 percent hike over the past 23-hours. Its price hiked from $0.0061 to $0.0073 and at press time, it continued to remain at a higher price point. With a market cap of $238 million, its trading volume was rather weak, with only $3.4 million, at the time of writing.

The Parabolic SAR indicated a bullish period as the dotted markers remained under the candles. Further, the CMF suggested that capital inflows were increasing in the market, at press time.

FTX Token’s native exchange FTX was in the news recently after Binance announced plans for FTX leveraged token removal, just weeks after launching the products.

Source: ENJ/USD on Trading View

Finally, Enjin Coin ended the past-24 hours on a decline with a depreciation of 1.44 percent. The market cap of the token was around $74.9 million, a figure that was accompanied by a weak trading volume of $5.9 million. The MACD failed to be decisive, at press time, as the MACD line and the signal line remained in close proximity. However, the Bollinger Bands suggested a reduced period of volatility in the future.


Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.
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