The altcoin market has been experiencing fluctuations recently, especially as Bitcoin approaches the $100K mark. Whales have been playing a significant role in these fluctuations, causing ups and downs in the market. However, with Trump signing executive orders that support the crypto market, altcoins have been performing well. Traders are going long on certain altcoins, and some are expected to stand out next week with significant surges. In particular, the Official Trump meme coin, Ripple’s XRP, and Gate token are likely to be top altcoins to invest in next week.
Altcoins have been dominating the market despite Bitcoin’s dominance. The Bitcoin Dominance Index (BTCD) peaked at the end of 2024, signaling the start of the altcoin season. Although the BTCD has dropped slightly, the total value of altcoins has not reached a new record yet. For a true altcoin season to kick off, the BTCD needs to decrease further, and the altcoin market value needs to surpass its previous high.
The altcoin season index chart shows a positive trend despite Bitcoin’s dominance, with Bitcoin’s market dominance hovering around 59%. Analysts believe that if Bitcoin’s price drops next week, several altcoins could reach new all-time highs.
Official Trump (TRUMP) Price Analysis:
The Official Trump meme coin has recently experienced a significant decline due to bearish pressure. The price of TRUMP has dropped by 63% in the last week, trading at $27.8 currently. However, with the meme coin backed by the incoming president, trader confidence is expected to increase. If TRUMP surpasses $30, its price could skyrocket towards $35 next week. On the other hand, failing to hold above $29 might consolidate the price within a bearish range.
XRP Price Analysis:
XRP has been holding steady above the $2.91 breakout level, indicating buyer dominance. The price of XRP is currently at $3.13, with a potential to reach $3.4 and even $4 if the bulls can push past the downtrend line. However, a drop below the 20-day EMA of $3.1 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, attracting buying pressure from traders. The price of GT is currently at $25, with a surge of over 1.3% in the last 24 hours. The GT/USDT pair could climb to the 50-day SMA at $26, a crucial short-term resistance level. If buyers can push the price beyond this point, the pair could rise to a new all-time high above $30.
Overall, the altcoin market is showing resilience and potential for growth despite Bitcoin’s dominance. Investors should keep an eye on the Official Trump meme coin, Ripple’s XRP, and Gate token as potential top performers next week.