Altcoin Market Analysis: Stellar (XLM) and Ripple (XRP) Steal the Spotlight
Nidhi Kolhapur19 Jul 20232 min read
Exciting developments in the altcoin market have sparked anticipation for a bullish trend ahead. Bitcoin’s dominance has dipped below 50 percent, revealing some weaknesses, while altcoins like XRP and XLM have surged around 5 percent to trade around 80 cents and 14 cents respectively, taking the lead.
Coin Bureau analyst Dan the Mann (Champ) recently conducted an analysis that suggests XRP and XLM could continue leading the altcoin market in terms of gains in the coming weeks.
XRP Price Analysis
The ongoing Ripple vs. SEC case has provided a boost to altcoins, especially XRP, as the highly-awaited summary judgment categorized it as a non-security asset. As a result, the altseason could potentially overshadow Bitcoin’s gains in the near future.
Regarding the XRP Price, the analyst holds an optimistic view, predicting that the digital asset may reach the $1 mark and potentially extend another 30 cents beyond that. Furthermore, he identifies the next major resistance level for XRP at around $1.3, which implies a potential spike of 64 percent from the current price levels.
Also Read: Ripple Vs SEC News: John Deaton Discusses the Significance of the Torres Doctrine
Stellar (XLM) Price Analysis
In the case of XLM, the analyst highlights three key levels that crypto traders should closely monitor. On the upper side, significant resistance levels are projected around 17 cents and 24 cents for XLM’s price movement. Conversely, on the lower end, $0.08 is identified as a robust support level that could potentially hold in the event of a market capitulation.
These analyses indicate a positive trajectory for XRP and XLM, suggesting that they could play a leading role in the altcoin market’s upward momentum in the weeks to come.
The stage is set, and the altcoins are on fire! We’re eager to hear from you – what’s your verdict on XRP and XLM’s price surge? Are you going to be adding them to your portfolio?
