This week’s crypto calendar is packed with major events, as Sonic Labs is about to launch its L1 mainnet, the Avalanche Etna update went live, Jupuary voting began for Jupiter, and more.

Additionally, Starknet will soon begin STRK token staking, and Stacks Foundation will release a timeline for its sBTC Bitcoin-backed asset.

Sonic Mainnet Is Launching in December

Sonic Labs (formerly known as Fantom) has repeatedly claimed in recent weeks that its Layer-1 mainnet would launch in December. This EVM platform also known as Sonic will offer developers attractive incentives and powerful infrastructure.

However, the company is yet to confirm the exact launch date. A social media post from earlier today teased a few details.

“Tired of waiting months or years for empty launch ‘promises’, and you’re ready to show the world what you can do? Come launch with us on Sonic. Our mainnet goes live this December. Earn up to 90% of your app’s fees. Real 10k at sub-second finality. Secure gateway to Ethereum. Grants available via Innovator Fund. $200 million S airdrop,” Sonic Labs wrote on X (formerly Twitter).

These breadcrumb announcements, alongside Sonic Lab’s airdrop, have generated dramatic interest in the last few days. Sonic’s FTM token has also been performing admirably, surging over 30% in the past week as the mainnet launch approaches. The network’s post-launch success could determine a broader trend in FTM valuation.

Avalanche Etna Goes Live

Blockchain network Avalanche has launched its Etna upgrade on testnet today. After this phase, Etna will launch on the mainnet, which will be the final step before the company launches its “largest update ever.” This update, Avalanche 9000, will drastically upgrade the underlying technology, and Avalanche Labs cofounder Kevin Sekniqi recently discussed its importance:

“My excitement for mainnet deployment literally cannot be overstated. This vision has been in the works for so many years. Huge upgrade, and my expectation and hope is that it’ll spark a golden age of L1s, making ‘scaling’ a thing of the past. No more ‘how do we scale’ but now ‘ok, what do I build to get to 1 billion users?’”, claimed Sekniqi.

The Etna upgrade empowers L1 creators with greater control over their networks. Developers can now define custom staking mechanisms, select alternative gas tokens, and implement unique governance models tailored to their specific use cases.

Jupiter’s Jupuary Begins Voting

Jupiter, a Solana-based decentralized exchange, began the first round of voting for its “Jupuary” airdrop today.

Essentially, Jupiter opened up a vote to the community on whether or not to conduct several massive airdrops. These airdrops require 70% community approval, and their stated goal is to build engagement.

“This current vote is for checking if the community is comfortable with 2 more JUPuaries round of 700M $JUP tokens each. Building a decentralized community has never been an easy task. Jup by Jup, you and I should strive to make $JUP the best governance token in the world and J.U.P the best community ever,” an influencer wrote on X (formerly Twitter).

This is not the platform’s first Jupuary airdrop, but it is the largest. Developers stated that this airdrop’s mission is to “accelerate, decentralize, unify” their broader community ecosystem. If the first vote passes, it will lead to one round of airdrops and successive votes until they lose approval.

Starknet Begins Staking

Starknet, a permissionless ZK-Rollup, will begin staking on its STRK token this week. It deployed staking infrastructure on mainnet earlier today. This will begin the platform’s overall transformation into a Proof-of-Stake network in four phases of preliminary test experiments.

“Validator tooling is now operational, and Validators are invited to begin their integration. For Delegators, UI and dApps for delegation will be available tomorrow with the official launch. Starting tomorrow, becoming a STRK Delegator will be very simple for everyone,” the firm claimed via social media.

Stacks to Reveal sBTC Launch Timeline

Additionally, the Bitcoin L2 Stacks is expected to reveal a timeline for its sBTC Bitcoin-backed asset. The company has released a whitepaper and roadmap, but it claimed that a more detailed timeline is forthcoming. This new asset will seek to provide new opportunities for Bitcoin in nontraditional DeFi applications.

Finally, all eyes will be on Bitcoin as it pushes towards the long-awaited $100,000 milestone. Despite the brief corrections in the market on Monday, Bitcoin has been consistently pushing new boundaries of all-time highs. It will be interesting to see BTC finally reaches six figures ahead of Thanksgiving and Christmas.

Ripple (XRP) price has surged 182.80% in the last 30 days and 30.26% in the past week. While its EMA lines remain bullish, with short-term lines above long-term ones, indicators like RSI and CMF suggest the uptrend could be losing steam.

A weakening momentum might lead XRP to test support at $1.05, with the risk of falling below $1 if selling pressure grows. However, if buyers regain control, XRP could target resistance at $1.63 and potentially reach $1.7, its highest price since 2018.

XRP RSI Is In A Neutral Zone

Ripple RSI is currently at 58, a decline from over 70 just a few days ago. The RSI, or Relative Strength Index, measures the momentum of price movements on a scale from 0 to 100, with values above 70 indicating overbought conditions and potential for a pullback, while values below 30 suggest oversold conditions and possible price recovery.

The drop from 70 to 58 reflects cooling bullish momentum, signaling that the recent rally may be slowing down without yet entering bearish territory.

An RSI at 58 suggests XRP remains in a healthy range, leaning toward bullish sentiment but with reduced buying pressure compared to earlier levels. Following a 30.26% price surge in the last seven days, the RSI decline indicates a period of consolidation may be ahead.

If RSI continues to fall, it could hint at increased selling pressure, potentially leading to a price correction. However, if the RSI stabilizes or rises, XRP price could regain momentum and attempt further upside.

Ripple CMF Is Heavily Declining

XRP’s CMF is currently at 0.02, a decline from 0.11 just two days ago, indicating a significant reduction in buying pressure. The CMF, or Chaikin Money Flow, measures the flow of capital into or out of an asset over a period, with values above 0 indicating net inflows (buying pressure) and values below 0 reflecting net outflows (selling pressure).

Since November 22, Ripple CMF has remained positive, signaling that buyers have consistently maintained dominance despite the recent decline.

With a CMF at 0.02, Ripple still reflects a slight net inflow of capital, suggesting the bullish sentiment has not entirely faded but is weakening. If CMF turns negative, it would indicate a shift to net outflows, potentially signaling increased selling pressure and a possible price correction.

For now, the positive CMF supports a cautiously optimistic outlook, but further declines could signal the beginning of a bearish trend for XRP price momentum.

Ripple Price Prediction: Is $1.7 On The Horizon?

XRP’s EMA lines maintain a bullish setup, with short-term lines positioned above long-term ones, indicating that the overall trend remains upward. However, other indicators like the CMF and RSI suggest that the uptrend may be losing momentum.

If the bullish trend weakens further and a downtrend emerges, XRP price could test key support around $1.05, with the potential to fall below $1 if selling pressure intensifies.

On the other hand, if the uptrend regains strength, XRP price could break through its resistance at $1.63 and aim for $1.7, which would mark its highest price since 2018.

Altcoins like GOAT, SUI, and POPCAT have faced notable shifts in momentum following their recent peaks. GOAT, which hit an all-time high of $1.37, has declined 25.42% over the past week, falling out of the top 10 meme coin rankings.

SUI, after reaching $3.94, has dropped 7.56%, slipping below a $10 billion market cap and trailing behind altcoins like Bitcoin Cash and Chainlink. Meanwhile, POPCAT has seen a sharp 21.00% decline from its $2.08 high, signaling potential further corrections as bearish technical patterns emerge.

GOAT

GOAT price has seen a significant decline, dropping 25.42% in the past week and falling below its $1 billion market cap. After reaching an all-time high of $1.37 on November 17, the altcoin’s momentum has cooled.

Once ranked among the top 10 meme coins by market cap, it is now 12th, losing places to MOG and MEW.

If bullish momentum returns, GOAT could test resistance at $1.23, potentially surpassing its previous high of $1.37. However, EMA lines indicate a prevailing downtrend.

Should this continue, the coin might test support at $0.69, and if that level fails to hold, prices could fall as low as $0.419.

SUI

SUI hit its all-time high of $3.94 on November 17 but has since entered a downward trend, falling 7.56% over the past week.

The altcoin recently dropped below a $10 billion market cap, slipping behind other rising altcoins like Bitcoin Cash (BCH) and Chainlink (LINK). The coin recently faced a two-hour outage, but its price didn’t fall as much as many expected, staying above $3.

EMA lines suggest SUI is in a downtrend, with short-term lines nearing a bearish cross below long-term ones. If this continues, SUI could test support at $3.09, with a potential drop to $2.2 if the lower level fails to hold.

However, renewed bullish momentum could see SUI challenge its all-time high of $3.94 and possibly test $4, pushing its market cap to $11.5 billion for the first time.

POPCAT

POPCAT reached an all-time high of $2.08 roughly one week ago but has since seen a sharp decline, falling 21.00% in the last seven days.

This drop has been accompanied by bearish signals, with its shortest-term EMA lines crossing below the longest ones, forming a death cross. This technical pattern suggests growing selling pressure and potential for further downside.

If the correction continues, POPCAT could test support at $1.17, with a possibility of falling as low as $0.9 if the lower support fails.

However, a reversal in momentum could see POPCAT rise to test $1.82, and if this resistance is broken, it may return to the $2 mark, potentially setting a new all-time high.