Every time Bitcoin approaches $100,000, there are more ups and downs in the altcoin market due to whales. With Trump signing several executive orders supporting the crypto market, altcoins are performing really well. As traders go long, some altcoins are likely to emerge with significant swings in the coming week. In particular, the official Trump meme coin, Ripple’s XRP, and Gate token may be the best altcoins to invest in next week, according to analyst Shayan Chowdhury.
Despite Bitcoin’s dominance, altcoins are still on the agenda
The end of 2024 kicked off the altcoin season as the Bitcoin Dominance Index (BTCD) appeared to have reached its peak. However, BTCD declined again. However, the total value of altcoins did not reach a new record; This data remains below its highest level in 2024. According to the analyst, for a true altcoin season to begin, we need to see BTCD fall further and the altcoin market cap exceed its previous high.
Although the altcoin season index chart does not indicate the beginning of an altcoin trend, it does show a positive trend despite Bitcoin’s dominance. While Bitcoin’s market dominance is approaching 59%, the altcoin seasonal index remains at a neutral 53. Analysts think that if Bitcoin’s price falls next week, several altcoins could reach new all-time highs.
Critical expectations for TRUMP, XRP and GT
Donald Trump’s meme coin has declined significantly recently due to the increasing threat of decline. The TRUMP price lost its all-time high of $75 and fell 63% last week. At the time of writing, TRUMP price is trading at $27.8, down over 16% in the last 24 hours. The meme coin, which is backed by the new US president, is likely to increase excitement as trader confidence increases, according to the analyst. Trump price is trading below the descending resistance line and it could retest $29.
On the other hand, XRP remains stable above the $2.91 breakout level, indicating that buyers are currently prevailing. 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 overcome it, the XRP/USDT pair could begin its next upward move. Momentum could potentially increase, pushing the price to $3.4 and possibly even $4.
Finally, according to the analyst, Gate Token is holding above the rising support line, triggering buying pressure among traders. At the time of writing, GT price is trading at $25, up over 1.3% in the last 24 hours. According to analysts, the GT/USDT pair could climb towards $26, which is an important short-term resistance level.
