• The crypto market has witnessed a rollercoaster of fluctuations in the past week, leading to uncertain predictions for future growth.
• Investors have shifted their focus to altcoins as Bitcoin’s sudden price dip failed to fulfil bullish goals, resulting in a surge in altcoin demand.
• Popular altcoins such as Binance Coin (BNB), XRP and ADA may soon take charge and experience massive gains.
Recent Crypto Market Changes
The past week has been marked by dramatic shifts in the crypto landscape, with investors witnessing a rollercoaster of surges and plunges across leading digital assets. These fluctuations have shaped market sentiment and left many on edge, creating uncertainty for future movement. As Bitcoin price has made a sharp dip from $30K, it brings hope of a possible altcoin season in the upcoming week.
Altcoin Surge
With Bitcoin’s dominance rate stalling – referring to its share of the overall cryptocurrency market – there is now potential for other altcoins to outperform in the near future. Investors are now turning their attention to these alternative coins as Bitcoin fails to meet bullish expectations, fuelling an increase in demand for these assets.
XRP Analysis
XRP experienced an attempted breakout from local support at $0.4412 on its hourly chart recently but was met with significant selling pressure near $0.473 resistance. Currently trading at $0.47 and climbing over 3.7% in 24 hours, bulls have managed to control the price chart after taking support near EMA-100 at $0.4412 level. A breakout above the critical level of $0.49 will send XRP towards its initial bullish consolidation range of $0