XRP Pumps 18%, $1 is Next Target – Best Altcoin to Buy?
Today, XRP outpaced the cryptocurrency market by 18%. Not surprisingly, after months of waiting, holders are stressing this point.
But will it continue to rise, or will other popular altcoins like Crypto All-Stars and Hedera be better investments?
XRP price rises on speculation of SEC chairman resigning
The years-long saga between the SEC and Ripple Labs, the creator of XRP, is finally over.
Ripple Labs won a long-running lawsuit in 2024, causing XRP prices to skyrocket. However, some resistance from the SEC has led to another correction, and XRP has been range-bound in recent months.
But rumors of SEC Chairman Gary Genlser’s resignation sparked new backlash. Given President-elect Donald Trump’s positive attitude toward the industry, his successor is likely to be more supportive of cryptocurrencies.
Currently, XRP is trading at $0.8, up 18% today, up 44% this week, and up 47% this month. It has a market capitalization of $45 billion and trading volume of $11.26 billion, currently up 77%.
Interestingly, this comes amid declines in the broader cryptocurrency market, with the industry’s overall valuation down 1.68% today.
However, this shows that XRP investors are breathing a sigh of relief as the SEC threat wanes.
Traders Spot Macro Breakout Pattern on XRP Price Chart
The XRP price chart is breaking out. Not just short-term, but the result of a multi-year downward trend.
Prominent trader Crypto Michael noted in July that XRP was preparing to break out of a “seven-year bull pennant.”
Typically, the longer an asset trades in a range, the more explosive a breakout will be. XRP enthusiasts will no doubt be pleased with this.
Crypto Michael cited the tweet on Thursday, noting that XRP has now broken above the pennant, indicating that a long-term rebound may be coming.
But as XRP gathers pace, a number of other cryptocurrencies are showing strength.
These altcoins could explode
With XRP surging and Bitcoin recently topping $90,000, the crypto market is currently awash with opportunities.
Among them, one of the projects that achieved huge benefits is Crypto All-Stars.
It’s no secret that the meme coin industry has outperformed the market this year, but Crypto All-Stars offers investors a rare opportunity to buy an easy coin with real utility.
They are building a memecoin staking app that will allow users to deposit Dogecoin, Shiba Inu, PepeCoin, FlokiCoin, and more to earn passive rewards.
However, users must hold $STARS to access the platform, and their rewards depend on how much they own.
This means that holders of all the top meme tokens are financially incentivized to accumulate as many $STARS as possible – hence the high demand and low supply.
The project is on pre-sale and the total amount raised just passed the $3.7 million mark.
However, analysts believe there will be huge gains after the pre-sale. ClayBro even says it can be 67 times more expensive.
But XRP and Crypto All-Stars aren’t the only cryptocurrencies showing promising signs today. Hedera is another cryptocurrency that is booming. It’s a scalable layer-1 blockchain that’s making impressive progress this week.
Notably, Canary Capital Group LLC filed an S1 registration for the Hedera ETF with the SEC. Given rumors of Gary Gensler’s resignation, this will likely increase the chances of approval and long-term price increases.
Currently, HBAR is trading at $0.06952, up 14% today and 40% this week. It has a market capitalization of $2.623 billion and a 24-hour trading volume of $494 million.