• Altcoin demand has increased as Bitcoin price dips and investors look for the next altcoins to explode
• XRP is currently trading at $0.47, with a possible breakout above its critical level of $0.49 sending it to its initial bullish consolidation range of $0.51-$0.53
• Binance Coin (BNB) is attempting to prevent further declines and maintain the $318 threshold
Altcoin Season on the Horizon
The entire crypto landscape has seen dramatic shifts in the past week, leaving investors on edge. As Bitcoin price makes a sharp dip from $30K, hopes of an altcoin season are growing stronger.
XRP Price Analysis
XRP’s price witnessed a deceptive breakout from the local support level at $0.4412 and is currently trading at $0.47, climbing over 3.7% in the last 24 hours after taking support near EMA-100 at $0.44. A breakout above its critical level of $0.49 will send the altcoin to its initial bullish consolidation range of $0.51-$0.53
Binance Coin (BNB) Price Analysis
BNB experienced a notable rebound from the $318 support level near EMA-50 and surged past the 20-day EMA indicating that bulls are putting up a fight to prevent further declines and maintain the said threshold .
Top Altcoins To Watch Out For Next Week
Investors have their eyes set on leading altcoins like BNB, XRP, ADA as they may be expected to perform well in this upcoming week’s market movements .
Conclusion
As Bitcoin dominance rate halts its rise, it brings expectations for some major gains for certain altcoins in this upcoming week . Therefore investors should carefully watch out for price movements of these coins so they don’t miss out any potential opportunities .