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Why Near, XRP, and The Sandbox Are Surging Today, Amid Down Day for Crypto Market

Why Near, XRP, and The Sandbox Are Surging Today, Amid Down Day for Crypto Market
Written by publisher team

What happened

today, near protocol (CRYPTO: close)And XRP (CRYPTO: XRP), And sand (CRYPTO: sand) All of them are seeing positive momentum. These three cryptocurrencies are currently up 12.3%, 7.9%, and 4.8%, respectively, in the past 24 hours, as of 9:30 AM ET on Thursday.

These moves come as the overall cryptocurrency market has fallen by 1.9% in the past 24 hours, indicating strong momentum among these coins.

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so what

Close to Protocol has continued to see strong sentiment and high trading volumes in recent days. Today’s move of more than 12% to the upside came after an impressive 30% swing yesterday. Much of this impetus was related to the addition of the Near to the MoonPay app, which further deepened the investors’ ability to access this coin.

Ripple’s XRP token has been embroiled in a series of negative headwinds this year as it has been mired in a lawsuit by the Securities and Exchange Commission (SEC) that aims to redefine XRP as collateral. However, analysts and industry insiders have recently begun to take an optimistic view of the risks and rewards of this token, as speculation is emerging that this lawsuit could be resolved in a short time.

For a metaverse cryptocurrency, The Sandbox, there is a set of clear catalysts that continue to elevate this token. Interest around the metaverse has continued to rise, with Sandbox being one of the big winners in this race for metaverse market share. Today, it was announced that Hong Kong real estate mogul Adrian Cheng has chosen The Sandbox as his primary blockchain-based option, and has acquired one of the largest parcels in the metaverse.

What now

Each of these symbols has very different catalysts supporting their rise today. However, what is evident from the price action among the major cryptocurrencies today is the construction of divergence between different altcoins and larger cryptocurrencies like Bitcoin And Ethereum, which has dominated investor interest for most of the past decade.

Investors are increasingly branching out, looking for the next big winner in what could turn out to be a more competitive crypto market in the long run. Each of these three coins has specific catalysts worth considering, and investors seem eager to jump on board, despite the seemingly bearish trend of the crypto space in general today.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of the Motley Fool Premium Consulting Service. We are diverse! Asking about an investment thesis — even if it’s our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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