The cryptocurrency market is currently consolidating after more than 7 months of persistent losses. However, if the past cycles continue, 3 altcoins traded on the Binance exchange may experience a price increase, multiplying your income, according to one analyst. Here are the details…
The first Binance coin that the analyst drew attention to: ADA
The market is already showing bullish signals, as seen in last week’s price action, when most altcoins rallied over 30 percent, according to analyst Motiur Rahman. According to the analyst, this is the perfect time to start researching cryptocurrencies that are likely to outperform the rest of the market in the next crypto bull run. Rahman’s list includes Cardano first. Cardano (ADA) remains one of the best cryptocurrencies to buy and hold right now. Apart from trading in a tight range for over a week, Cardano currently has a lot of good news that could help push the price up.
Among them is that Cardano will now be offered to German investors through two banks. These banks, Comdirect and Onvista, have millions of users. According to the analyst, if bank users start buying Cardano, it will likely affect the price positively. Also, the news alone confirms Cardano as an investment and could trigger FOMO around it. Finally, the analyst uses the following statements about ADA:
Celebrities are also showing interest in projects related to Cardano. For example, Snoop Dogg’s son is involved in Cardano NFTs, specifically the Clay Nation NFT project. Because such people have influence, it is likely that investors will be attracted to Cardano NFTs. This is likely to increase ADA in the short term as demand for tokens may increase. It’s not surprising that the positive emotions around Cardano are on the rise.
Analyst hopeful for Ripple
Although the US Securities and Exchange Commission (SEC) has dampened the air around Ripple (XRP), the token remains flexible. He has good news that has the potential to skyrocket in price if the broader market turns bullish in the short term, according to the analyst. One is that a bank in Brazil is now accepting XRP for on-demand liquidity.
Travelex bank stated that the move to adopt XRP was driven by the need for instant and low-cost transactions without having to tie up capital. This is very important and marks the increasing use case for XRP, which has grown steadily over the years. This is a factor that makes XRP a prime candidate for a pump in the short to medium term.
Last altcoin on the list: Shiba Inu (SHIB)
The Shiba Inu (SHIB) was one of the top performers last week. cryptocoin.com As we’ve reported, it’s still one of the most popular cryptocurrencies right now. This suggests that there is still a lot of excitement around SHIB, despite the price slowing down. Currently, the Shiba Inu is currently facing stiff resistance at the 200-day MA. With all the excitement around SHIB, if the 200-day MA resistance is broken, investors could see the price rocket to new highs in the short term.
