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Crypto Price Prediction: The cryptocurrency market commenced the new week with stability, as several major digital currencies aimed to build upon the rebound observed last week. <a href="https://coingape.com/bitcoin-witness-478-mln-outflows-as-grayscale-outflow-abates/" rel="noopener noreferrer nofollow">Bitcoin</a>, the leading cryptocurrency, is currently experiencing a 0.61% increase, maintaining its position above the $42,000 threshold.&nbsp;
Although the likelihood of a sustained recovery remains unclear, a recent surge in the market caps of stablecoins has bolstered optimism among potential investors.&nbsp;
Since late September, there’s been a significant uptick in the market caps of major stablecoins – namely $USDT, $USDC, $DAI, $BUSD, $TUSD, and $USDP. Collectively, they have witnessed an increase of $9.42 billion over just four months. trend, highlighted by crypto analytics firm Santiment, suggests potential bullish conditions ahead.
This surge in stablecoin market cap often acts as a catalyst, setting the stage for increased buying activity across various cryptocurrencies.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Since late September, the constant in <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> has been encouraging rises in <a href="https://twitter.com/hashtag/stablecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#stablecoin</a> market caps. The combined cap of <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDT</a>, <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a>, <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DAI</a>, <a href="https://twitter.com/search?q=%24BUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BUSD</a>, <a href="https://twitter.com/search?q=%24TUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TUSD</a>, and <a href="https://twitter.com/search?q=%24USDP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDP</a> is up $9.42B in 4 months, typically a necessary ingredient for <a href="https://twitter.com/hashtag/bullish?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bullish</a> conditions. <a href="https://t.co/34wJLTgWET" rel="noopener noreferrer nofollow">https://t.co/34wJLTgWET</a> <a href="https://t.co/yYMBc3hsdL" rel="noopener noreferrer nofollow">pic.twitter.com/yYMBc3hsdL</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1751733537890566453?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 28, 2024</a>
</blockquote>
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As traders and investors closely monitor the cryptocurrency market for signs of recovery, digital assets such as XRP, Polkadot (DOT), and SUI are emerging as viable options for long-term investment opportunities.
<h2 id="b-xrp-price-reversal-from-key-support-hints-14-upsurge-b">XRP Price Reversal From Key Support Hints 14% Upsurge</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/x/xWLzhb7w.png" alt="XRP Price " width="1946" height="937">
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 XRP Price| TradingView Chart
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Amidst the broader market uncertainties, particularly the challenges surrounding the <a href="https://coingape.com/chinese-fund-giant-harvest-submits-spot-bitcoin-etf-application-to-hong-kong-sec/" rel="noopener noreferrer nofollow">Bitcoin ETF</a>, XRP has seen a notable downward trend. It has fallen from a high of $0.7 to its current value of $0.526, marking a significant 24.7% drop over the last two months.
However, this downward trajectory found a solid footing at a crucial juncture – the combined support level of $0.5 and a longstanding support trendline. This trendline, active since early 2023, has been instrumental in stabilizing <a href="https://coingape.com/spot-xrp-etf-ripple-actively-hiring-executives-to-prepare-for-filing/" rel="noopener noreferrer nofollow">XRP</a> during major market dips, instilling a bullish outlook among investors.
In a notable shift, the market is displaying signs of reversal. <a href="https://coingape.com/price/xrp/" rel="noopener noreferrer nofollow">XRP price</a> has mirrored this change, bouncing back from the support with a morning star pattern, and is currently trading near $0.52.&nbsp;
If this newfound bullish momentum persists, buyers could likely drive a 14% upswing, targeting the resistance trendline of a symmetrical triangle pattern.
<h2 id="b-failed-breakdown-bolsters-polkadot-dot-price-rally-to-9-5-b">Failed Breakdown Bolsters Polkadot (DOT) Price Rally to $9.5</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/g/gPyPUPYo.png" alt="Polkadot (DOT) Price" width="1946" height="937">
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 Polkadot (DOT) Price| TradingView Chart
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In the past month, <a href="https://coingape.com/price/polkadot/" rel="noopener noreferrer nofollow">Polkadot (DOT) Price</a> witnessed a sharp 37.6% decline in its price, falling from $9.6 to $6. This downturn led to the formation of a bearish head and shoulders pattern.&nbsp;
On January 22nd, DOT’s price broke below the pattern’s support trendline, intensifying bearish sentiments. However, the recent market recovery has allowed DOT to stay above the critical $6 level and climb back above the neckline support, now trading at $6.85.&nbsp;
This resilience suggests a potential ‘<a href="https://coingape.com/education/what-is-a-bear-trap-in-crypto-and-how-does-it-work-beginners-guide/" rel="noopener noreferrer nofollow">fake breakdown</a>‘, which could stimulate increased buying activity. If this buying momentum is sustained, DOT could target higher levels, aiming for $8.56 initially and potentially revisiting its previous high of $9.6.
<h2 id="b-is-sui-price-ready-to-hit-1-7-b">Is SUI Price Ready to Hit $1.7?</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/g/Gys9hXDH.png" alt="SUI Price" width="1946" height="937">
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 SUI Price| TradingView Chart
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Defying a broader market downturn, the <a href="https://coingape.com/sui-surges-11-as-alibaba-cloud-amplifies-support-for-the-network/" rel="noopener noreferrer nofollow">SUI</a> token exhibited a remarkable bullish surge last week, jumping from $1.013 to $1.44, an impressive 42% increase. This upward trend has been buoyed by strong buying pressure, positioning SUI on the brink of a potential bullish breakout from its previous swing high resistance near $1.5.
Should SUI successfully breach and hold above the $1.5 threshold, it would not only confirm a sustainable recovery but also empower buyers to pursue a higher target of around $1.7.&nbsp;
However, there’s a flip side to consider. If the <a href="https://coingape.com/markets/sui-price-prediction-will-sui-tvl-expansion-for-a-15/" rel="noopener noreferrer nofollow">SUI price</a> faces persistent selling pressure around the $1.5 mark, it could lead to the formation of a bearish reversal pattern known as a double top. Should this pattern materialize, it puts SUI at the risk of dropping below the crucial $1 level, thereby reversing its recent gains.
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The post <a href="https://coingape.com/markets/crypto-price-prediction-today-january-29-xrp-dot-sui/" rel="noopener noreferrer nofollow">Crypto Price Prediction For January 29: XRP, DOT, SUI</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction For January 29: XRP, DOT, SUI

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