XRP, Plasma, and DOGE are cryptocurrencies to watch as bitcoin's price remains stagnant

Bitcoin's sluggish trading near $75,000 has shifted the spotlight to other notable cryptocurrency projects. XRP, the token used by Ripple for cross-border transactions, has seen a resurgence in demand with U.S.-listed spot XRP ETFs attracting over $17 million in inflows. This uptick in interest follows a period of dormancy and is accompanied by encouraging news, including Ripple's partnership with Kyobo Life Insurance to pilot a real-time tokenized government bond settlement system in South Korea. Additionally, XRP's derivatives market is exhibiting bullish signals, with rising open interest and positive funding rates. The total value locked in stablecoin-focused layer-1 blockchain Plasma has surged to $2 billion, representing a 27% increase over the past week and over 80% in the last 30 days. This growth may be linked to optimism surrounding the potential approval of the CLARITY Act in the U.S., which aims to clarify the regulation of digital assets. Plasma has also been selected to support Tether's new self-custody wallet. Meanwhile, DOGE's Bollinger Bands are at their tightest since February 2024, indicating a period of low volatility that is likely to be followed by significant price swings. As for bitcoin, the combination of on-chain profit-taking, uneven spot demand, and cautious options suggests continued range-bound trading near $75,000. Market participants are advised to remain vigilant for potential breakouts.