The Altcoin market sees more ups and downs from whales every time Bitcoin approaches the $100,000 mark. With Trump signing several executive orders that support the crypto market, Altcoins have done very well. As traders go long, some altcoins are likely to stand out next week with significant surges. In particular, the OFFICIAL Trump MEME, Ripple’s XRP and Gate Token could be the best Altcoins to invest in next week.
Altcoins still dominate despite Bitcoin’s dominance
The end of 2024 kicked off the Altcoin season because the Bitcoin Dominance Index (BTCD) appeared to be reaching its peak. However, BTCD fell, but not as much as expected. Additionally, the total value of Altcoins has not reached a new high; It is hovering just below its peak in 2024. For a true altcoin season to take off, we need to see BTCD fall further and the altcoin market value break out after its previous high.
Although the Altcoin Season Index chart does not show the start of an altcoin trend, it does show a positive trend despite Bitcoin’s dominance. With Bitcoin’s market dominance near 59%, the Altcoin Season Index remains at 53 neutral. Analysts believe that if Bitcoin’s price falls next week, several Altcoins could reach new all-time highs.
Official Trump Price Analysis (Trump)
Donald Trump’s MEME COIN has recently declined due to increased bearish threat. Trump Price lost its ATH of $75 and fell 63% over the past week. At the time of writing, Trump Price is trading at $27.8, down more than 16% in the last 24 hours.
Excitement is likely to increase as the meme medal, backed by the incoming president, boosts traders’ confidence. Trump price is hovering below the falling resistance line and could hold $29.
If MEME coin rises above $30, we could see its price skyrocket towards $35 next week. However, breaching $29 could solidify the price in a bearish range.
XRP Price Analysis
XRP held steady above the $2.91 breakout level, suggesting that buyers currently dominate. At the time of writing, XRP price is trading at $3.13, down over 1.2% in the last 24 hours.
Although there is some resistance at the downtrend line, if the bulls can break above it, the XRP/USDT pair could begin its next upward move. The momentum could potentially increase, taking the price to $3.4 and perhaps even $4.
However, this positive outlook could be short-lived if the price starts to decline and falls below the 20-day EMA of $3.1. Such a move could lead to a downward correction towards the 50-day SMA of $2.51.
Gate Token (GT) Price Analysis
Gate Token is holding above the ascending support line, triggering buying pressure among traders. At the time of writing, GT Price is trading at $25, which is up over 1.3% in the last 24 hours.
The GT/USDT pair could climb towards the 50-day SMA at $26, an important near-term resistance level. If buyers can push the price beyond this point, the pair could reach a new ATH above $30.