News and prices for the crypto assets Arbitrum (ARB), Cronos (CRO) and Stellar (XLM)

Crypto news: what news involves the coins Arbitrum (ARB), Cronos (CRO) and Stellar (XLM)? Let’s see below for an overview of current and future price trends as well.  

Arbitrum: a comparison with the price of Cronos and XLM crypto assets

The price of Arbitrum (ARB) touched $0.95 on Wednesday, showing a 25% increase over the past ten days. On-chain analysis identifies key indicators that could favor crossing the $1 threshold for ARB in the coming days.

The upward trend in Arbitrum’s price continues in its second consecutive week as bullish investors, especially so-called “whales” (large investors), continue to pile on increasing buying pressure. 

Data analysis shows that holders of large ARBs, between 1 and 100 million tokens, significantly increased their holdings by 20 million ARB between 23 October and 1 November. 

This type of analysis provides a real-time look at the movements of tokens held by these large investors. When whales continue to accumulate during a bullish period, they are assumed to be betting on further price increases.

Valued at the current price of about $0.95, the accumulation of 20 million ARB by whales in the past week is worth about $19 million. Considering the weight and influence of such large investors within the blockchain ecosystem, this massive accumulation could bolster the confidence of retail investors.

Although the general sentiment around Arbitrum’s price is primarily bullish, historical data analysis suggests that resistance at $1 could present a significant hurdle.

With 56,490 addresses having purchased 1.9 billion ARB at the low price of $1.04, early closure of these positions could trigger an immediate correction in Arbitrum’s price.

However, if the whales continue to accumulate ARB, the upward price trend could cross the $1.50 threshold. 

Cronos and XRP Ledger’s partnership with Atato for digital asset custody

Recently, Atato, the custodian of digital assets, announced a major integration with Cronos Chain and XRP Ledger. The main focus of this partnership is to leverage the powerful Bring-Your-Own-Chain (BYOC) functionality.

It is expected that this integration will not only stimulate the DeFi and GameFi industry, but also strengthen the role of XRP Ledger (XRPL) in the blockchain ecosystem.

BYOC represents a custody solution that simplifies the integration of different blockchains with a single click. The long-term goal is to foster the smooth coexistence of multiple blockchains, thus promoting wide adoption. 

Guillaume Le Saint, co-founder of Atato, pointed to the increase in user demand to protect and control their tokens on different chains through a simplified user interface. 

He added that this demand has grown significantly with the proliferation of various Layer 1, Layer 2 and subnets in different ecosystems.

Atato said the BYOC integration aims to support Web3 developers, startups and small and medium-sized enterprises (SMEs) affiliated with XRP Ledger, Cronos ecosystems and others, with the common goal of creating a secure, interoperable and compliant environment for emerging participants in the Web3 world.

In addition, this integration facilitates simplified connection and use of decentralized applications (dApps) across blockchain networks via Atato’s WalletConnect functionality. 

Given the growing threat of cyber attacks, Atato stresses the importance of placing a strong emphasis on security from the early stages of development, as outlined in their press release.

Stellar (XLM) breaks trend lines and prepares for possible growth

Stellar crypto (XLM) recently broke a 100-day downtrend line, specifically on 19 October.

Subsequently, it broke through the horizontal resistance area of $0.110, which was previously broken downward. Daily time analysis shows its decline below a descending trend line dating back to July, touching a low of $0.101 on 12 October.

Although the decline led to a breakout from the $0.110 horizontal support area, the price soon recovered ground.

In addition, the Stellar Foundation released its third-quarter review, showing progress on the roadmap, such as the upcoming release of the Soroban smart contract platform and new features on Stellar Asset Sandbox, a testbed for asset tokenization on the Stellar network.

A more detailed analysis of the Relative Strength Index (RSI) in the daily chart supports the current bullish trend. 

Recall that traders use the RSI as a momentum indicator to assess whether a market is overbought or oversold, deciding to accumulate or sell an asset. 

An RSI above 50 in a bullish trend indicates an advantage for bullish traders, while an RSI below 50 indicates the opposite.

The current RSI above 50 and rising indicates a bullish trend. In addition, well-known cryptocurrency trader Sherlockwhale predicts further upside after this deviation.

If XLM continues to rise, the next resistance level is at $0.160, determined by a horizontal area and the 0.618 Fib retracement resistance level.

Although there is a bullish expectation for the price of XLM, if a close below the $0.110 horizontal area occurs, this would invalidate the breakout and recovery. In such a scenario, a 35% drop to $0.077 would be expected.