XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

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Bitcoin’s dominance over the crypto market, which represents its share of total cryptocurrency market capitalization, surged from around 44% to a March high of 48%.

Bitcoin’s price rose 22.7% over the month, while most altcoins had subpar or negative returns. However, there were also some outliers that showed positive momentum for two consecutive months. For example, XRP is showing steady positive momentum as investors hope for a positive outcome in the US lawsuit against the SEC.

conflux network

The Conflux Network has continued to perform well since February, nearly doubling its price in March. The team for this project continued to strengthen its partnership in China by adding XCMD and Zen Spark Technology, the world’s third largest construction equipment manufacturer.

The Conflux team also supports developing permissionless applications.it established grant program Promote the development of its ecosystem.

The CFX token continues its positive run, testing support between $0.10 and $0.20, reaching an annual high of $0.46. The market structure of the token with high highs and lows looks bullish, with a potential target of $0.80. This represents a breakdown level from the 2021 bull market.

XRP

Ripple’s Chances of Winning Lawsuit Against Securities and Exchange Commission (SEC) Ruling Out Expert Opinion Explaining How XRP Could Be a Security, Presiding Judge Annalisa Torres on March 21 was improved after determining

On March 27th, another US regulatory move was a boon for XRP holders. The US Commodity Futures Trading Commission (CFTC) has accused Binance of inadequate compliance procedures and market manipulation.

Regulators have classified Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) as commodities. Some believe that this classification extends to XRP as well. Therefore, it effectively refutes the SEC’s claim that XRP is a security. Market expectations that Ripple will win its lawsuit against the SEC have pushed the price of XRP to a year-to-date high.

If Ripple wins the SEC, XRP’s bullish momentum could continue in the medium to long term.

XRP is currently facing resistance from its 2022 peak level of around $0.53. A breakout of this level could lead the price towards the previous support and resistance levels around $0.65 and $0.90.

In particular, the Relative Strength Indicator (RSI), which measures the momentum of price movement relative to volume, shows that XRP has reached overbought levels. The possibility of a correction to the $0.45 level increases.

Stella

Stellar’s XLM token benefited primarily from its strong positive correlation with XRP. The correlation coefficient between XLM and XRP price changes is usually above 0.7.

Behind the scenes, the Stellar Organization is working to increase adoption of the Stellar network for remittances to third world countries such as Africa. Stellar also works with international payment providers money transfer service Integrate Stellar Network to facilitate global payments.

Technically, the XLM/USD pair has broken through the $0.10 resistance level. If buyers break out of this level, the pair can target higher to $0.15 and $0.24. Conversely, if a bullish breakout does not materialize, XLM may fall back towards the support at $0.08.

XDC Network (XDC)

The XDC network combines permission chains and public chains for scalability and security. XDC tokens are the fuel of the network used to pay network fees and deploy applications.

The network supports EVM-compatible smart contracts, protocols, and atomic cross-chain token transfers. It is also fully compliant with the ISO-20022 message standard, an internationally recognized standard for electronic data exchange between financial institutions.

Top public blockchains in the XDC ecosystem include Ecoin, Stasis Euro, and Gobiance Exchange. These are relatively little-known projects traded on tier 2 exchanges such as HitBit and BitMart. This paints a dull picture of the ecosystem development of projects using permissionless blockchains.

On the corporate side, the project has established suitable partnerships with brands such as Travala and Guarda Visa cards.

Factors driving the recent price hike include the introduction of DAOs and the active role of management company XinFin, which is responsible for blockchain development and management.

XinFin recently decided to form a DAO to decentralize blockchain governance. After rolling out in May 2023, the community will be able to decide on the distribution of ecosystem funds to accelerate development. The Web3 meetup in Dubai, hosted by XDC Network with over 60 developers from all over the world, has also fueled the growth of the blockchain ecosystem.

The XDC/USD pair’s technical setup suggests that it is on the edge of a bullish breakout. If the buyer breaks out above the $0.045 level, the pair may head for the He $0.064 target and above. On the downside, the $0.02 support level is important for buyers.

The Klinger Oscillator, a momentum indicator, draws a similar diagram with a reading of zero. A positive buy action from the current level moves the indicator into positive territory and is usually a bullish sign.

RELATED: Top 5 Crypto Winners (and Losers) of 2022

Mask network (MASK)

Mask Network bridges Web2 and Web3, enabling cryptocurrency trading directly through Web2 websites.

Over 40,000 users have installed the Mask Network Chrome extension. The browser extension currently supports multiple decentralized applications (dApps) such as Uniswap and SushiSwap and is compatible with many social media platforms such as Twitter and Facebook.

The network’s Facebook integration has received some complaints. After the acquisition of Elon Musk, it has largely benefited from his Twitter integration and the hype around cryptocurrency integration on social media platforms. This adds a fair amount of speculation to the token’s price, as the nature of Twitter’s adoption is still unknown.

On March 9th, the token was listed on the BTSE exchange, increasing the liquidity and volume of the token. This project was one of the recipients of the ARB airdrop and received 257,540 ARB tokens.

MASK tokens are not recommended as they are the project’s governance token and do not generate revenue from network usage. However, over 76% of his token supply is already in circulation. relatively low inflation.

The MASK/USD pair has broken out of the 2022 high of $6.10, a positive sign for technical buyers. The RSI indicator is in bullish territory, cooling off from overbought territory and has room to move further.