Key Insights:
XRP could reach $0.74 as soon as it breaks out of a narrow range between $0.53 and $0.63.
Algorand charts indicate shifting higher bottoms and looming MACD crossovers.
Shiba Inu shows potential for a rally that could take it to $0.35 this month.
Polygon sees a possible revival till $0.5.
Mantra has seen two supertrends that could take it above $5 this year.
With the alt-season already arrived, we are seeing renewed action in the broader markets. Bitcoin's dominance has been receding and despite a pinned-down price, Ethereum is seeing a revival of its market dominance. Both of these indicate the altcoin season's arrival.
However, it is also getting increasingly difficult to pick cryptocurrencies for investment. This is because many cryptocurrencies in these markets will rally just on hype and will crash in a ruthless manner once that hype is over.
To prevent your portfolio from crashing down after this bull rally, we have brought you five cryptocurrencies that have strong fundamentals and are ready for action to give you decent gains this month.
Ripple has already seen the end of its case against the SEC and even if the latter has appealed, the chances of this appeal leading to a trial is rare. This is because the lower district court of SDNY has already pronounced the judgment in a very clear manner.
Further, the SEC's demand for a $2 billion fine has been unprecedented in history. In most cases, the fine has been lower than the total quantum of sales. Here it is $700 million more than the sales figures ($1.4 billion).
XRP Price With Support at $0.53
As far as price levels are concerned, we can clearly see that $0.53 has acted as a very strong support for XRP and it is unlikely to go down below this level anytime soon.
The only factor keeping XRP down is the state of global geopolitics that had been impacting wider markets too. XRP being a cross-border payment platform needs a predictable and non-violent global economy to thrive. As soon as these troubles get resolved, we might see a rally in XRP’s price.
Algorand is one of the unique blockchains that is both secure and scalable. Unlike Layer-2 chains which rely on Ethereum, Algorand is completely independent. The blockchain was designed by top MIT experts and was meant to be a secure chain for high-throughput applications.
Though there are some challenges ahead like the lack of extensive marketing, however, the Algorand Foundation has taken sufficient steps lately to ensure more concrete steps in this direction.
Higher Bottoms in Algorand Charts
Finally, the higher bottoms in ALGO charts and a looming MACD crossover indicate that the crypto could witness a rally in the coming few days.
At press time, ALGO was priced at $0.12. As the alt season progresses, we might see it rise to higher levels.
Shiba Inu could likely cross $0.75 this year as the crypto is likely to enter a rally of 340%. This rally if it happens, could take Shiba Inu to lead the memecoin markets beating the long-standing leader, Dogecoin.
Rounding Bottom Formation in Shiba Inu Weekly Charts
Factors that work in favor of Shiba Inu are its Layer-2 blockchain, high burn rates, high network activity, DAO, on-chain DeFi protocols, and the support for dApps.
Also, the formation of the Rounding Bottom pattern on Shiba Inu's weekly charts indicates that the crypto is looking to show high growth in the next few months and could easily reach its 2024 highs.
At press time Shiba Inu quoted a price of $0.00001791 and might soon cross the resistance of $0.00002.
Polygon has finally corrected its long-awaited token migration from MATIC to POL. The project has a very well-developed ecosystem with its own virtual machine, a roll-up based layer-2 chain, and a highly scalable blockchain.
Currently, the polygon blockchain processes around 2 to 3 million transactions per day, making it one of the busiest chains in the crypto markets.
Further, Polygon’s institutional partnerships bring it to a unique position where the market.
Double Bottom Pattern in POL Charts
Finally, the double bottom pattern in POL charts indicates that the crypto might soon cross $0.5 levels.
Mantra is the leader in the RWA space and has the largest market cap among all RWA-focused crypto projects. Real World Assets have been the second most profitable sector in crypto after memecoins. However, unlike memecoins, these cryptos have a real-life application, a solid revenue model, and an increasing demand.
Mantra Charts Showing Super Bullish Trends
What sets it apart from others is that, even before the launch of its mainnet, the crypto already has shown an 8500% growth in the last year.
At press time, MANTRA has been trading at $1.5, up by 36% this month. We expect it to cross $5 levels by the end of this year.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.