XRP’s legal resolution and ETF moves spark institutional interest, while Sui’s growth in TVL boosts confidence.
SUI’s positive divergence and support at $2 aim for continued uptrend, with resistance at $3.6.
Looking for actionable trade ideas to navigate the current market volatility? Subscribe here to unlock access to InvestingPro’s AI-selected stock winners.
Among the top altcoins in the crypto market, , and are gaining attention due to strong investor confidence, growing interest from institutions, and recent technological advancements.
Some of the key developments include leadership changes and ETF entries for Ethereum, progress in regulatory issues and ETF movements for XRP, and rapid growth in total value locked (TVL) and institutional interest for Sui. As a result, these three altcoins are expected to stay in focus for investors in the short to medium term.
Ethereum’s Leadership Reform and Investor Demand
Ethereum has been showing positive signs recently, both in on-chain data and technical indicators. Blockchain data revealed that large addresses holding more than 0.1% of the circulating supply have been increasing their ETH holdings. This suggests that big investors are taking advantage of Ethereum’s lower prices to buy.
Additionally, ETH-based ETFs saw a net inflow of $157 million after eight weeks of outflows. These developments indicate that investor confidence in Ethereum is starting to rise again.
Another important development was the Ethereum Foundation’s decision to change its leadership structure after receiving criticism from the community. Hsiao-Wei Wang and Tomasz Stanczak were appointed as co-executive directors, a move seen as a key step for the foundation’s long-term vision.
The Ethereum Foundation plans to focus on three main areas in the coming period: improving the scalability of the main network, integrating Layer 2 solutions, and enhancing user experience. The Pectra update, scheduled for May, is crucial for achieving these goals.
ETH Tests Trend Breakdown
From a technical perspective, data shows that selling pressure on Ethereum is beginning to shift towards buying. However, the cryptocurrency has faced resistance at around $1,830 since April 23, which suggests the cryptocurrency is at a critical point.
This price level marks the upper limit of the bearish channel that started in December and has been followed throughout this year. Analyzing the chart, it is clear that ETH has attempted to break this downward channel four times, but has failed each time. Now, it is attempting to break through this trend for the fifth time.
If ETH can break the $1,830 resistance (Fib 0.144), it could quickly move to the next resistance level in the $2,060-$2,100 range. This area aligns with Fib 0.236 and the 3-month EMA, forming a strong resistance. A break above $2,100 could signal a trend reversal for ETH. If it fails to break through, the upside potential may remain limited.
In summary, if Ethereum experiences an upward movement, the momentum towards the $2,100 level should be closely monitored. Increased selling pressure at this point may lead to a retest of the $1,800 level. However, if $1,800 holds as support, it could trigger a stronger uptrend in the second phase.
Currently, the $1,830 resistance is expected to be tested. If this level is not broken, a pullback towards the $1,450-$1,500 range could occur, which would indicate that ETH is still moving within a bearish channel.
XRP’s Cautious Response to Regulatory Victory and Institutional Interest
XRP has gained attention again due to developments on the regulatory front. Ripple’s resolution of its legal dispute with the SEC marked a turning point for XRP, boosting its price and attracting institutional investor interest. With this clarity, XRP has been relisted on major exchanges, making it more accessible to individual investors.
One of the key developments for XRP is ProShares’ XRP futures ETF launch. Additionally, ETF applications from major financial institutions like Grayscale and Franklin Templeton have raised expectations for a potential $8 billion inflow to XRP. The launch of XRP futures by CME Group is expected to further expand its use in financial markets. Moreover, Ripple’s acquisition of Hidden Road for corporate finance infrastructure is seen as a significant investment for the future.
As a result of these positive developments, XRP followed the general altcoin market trend in April. It initially fell to a support level tested in November 2024 but began to gain attention with a steady rise afterward.
XRP Seeks a Breakout Point
Currently, the $2.3 level for XRP is a crucial resistance point for the continuation of the trend. This level corresponds to Fib 0.382 relative to the downtrend in the first quarter of 2025. A clear daily close above this resistance could push XRP to $2.5 and $2.71. If the upward movement continues, a rally towards $3 could be seen in the short term.
However, if the $2.3 resistance is not broken, XRP may experience a pullback towards $2.00, followed by a potential drop to $1.90.
Sui Strengthens with Corporate Moves
The Sui network has experienced significant growth recently, especially in total locked assets (TVL) and on-chain user data. Last week, TVL increased by 38% to reach $1.73 billion, while stable crypto reserves hit $879 million, indicating strong confidence in the DeFi ecosystem.
Grayscale’s launch of the Sui Trust and 21Shares’ application for an SUI ETF clearly show growing institutional interest in Sui. Additionally, the virtual card solution developed in partnership with xPortal and supported by Mastercard (NYSE:) is seen as a major step that could enhance the real-world usability of the SUI token.
Investments in the blockchain-based gaming sector have further boosted interest in SUI. The partnership with Parasol and the integration of SEGA-licensed game content into the blockchain network have positioned SUI as a key player in digital asset infrastructure. Additionally, the number of active wallets on the network surpassing 2 million serves as another indicator of its rapid growth.
Lastly, the collaboration with the Athens Stock Exchange has enhanced SUI’s strength in institutional solutions. The integration of smart contracts and zk-proof technologies into donation systems has also been a significant development, further strengthening SUI’s technical capabilities.
SUI’s Technical Outlook
With the impact of all these positive developments, SUI has shown a positive divergence from the overall market in a short period of time. SUI, which has gained more than 75% in the last week, is aiming to continue the uptrend it began last month.
SUI established strong support around $2 in March. Despite flat and low volumes in early April, it saw a significant price increase last week. However, buyer sentiment has weakened in recent days. As the price approaches the $3.6 resistance, holding above this level is crucial for the continuation of the uptrend.
If profit-taking increases, the $3.2 and $2.7 levels can act as support. Especially if $3.2 holds as support, there may be potential for a rise towards $4.5 in the next phase. Otherwise, a horizontal consolidation in the range of $2.7-$3.6 might begin.
****
Be sure to check out InvestingPro to stay in sync with the market trend and what it means for your trading. Whether you’re a novice investor or a seasoned trader, leveraging InvestingPro can unlock a world of investment opportunities while minimizing risks amid the challenging market backdrop.
Subscribe now and instantly unlock access to several market-beating features, including:
ProPicks AI: AI-selected stock winners with a proven track record.
InvestingPro Fair Value: Instantly find out if a stock is underpriced or overvalued.
Advanced Stock Screener: Search for the best stocks based on hundreds of selected filters and criteria.
Top Ideas: See what stocks billionaire investors such as Warren Buffett, Michael Burry, and George Soros are buying.
Disclaimer: This article is written for informational purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation or suggestion to invest. I would like to remind you that all assets are evaluated from multiple perspectives and are highly risky, so any investment decision and the associated risk belongs to the investor. We also do not provide any investment advisory services.
