The recent activities of Litecoin (LTC), XRP, and Solana (SOL), three altcoins associated with Ripple, are strong evidence that altcoins are currently creating waves in the cryptocurrency market. All three have had considerable advantages over the past 24 hours, indicating a potential change in the cryptocurrency landscape. The focus is shifting to these promising cryptocurrencies next week as Bitcoin’s (BTC) dominance starts to wane, with analysts forecasting a large increase in the value chart.
As BTC’s value consolidates, Altcoins take centre stage.
The crypto market demonstrated low volatility despite the Federal Open Market Committee (FOMC) meeting and the predicted 0.25% price increase. While Bitcoin remained secure, Ethereum (ETH) and Ripple (XRP) saw little favourable qualities. Following the meeting, the market seems to have already taken these macroeconomic events into account, going back to regular buying and selling.
Due to Bitcoin’s consolidation below $29.5K, major altcoins including LTC, SOL, and XRP will perform better the following week.
Evaluation of Litecoin (LTC) Value
Due to the impending halving event in early August, the price of Litecoin has been fluctuating more than usual recently. After falling below $88 from the 20-day EMA at $92, Litecoin experienced a dip. Bulls, however, held off further loss as the price turned back to the initial resistance area of $92.
The price needs to be raised and kept over $95 by the next week. This might initially lead to a rise to $106, followed by a potential rally into the key resistance level at $115.
However, if the value falls and breaches the $87 threshold, LTC may experience a rapid collapse ahead of the halving occasion. The LTC value may continue to decline until it reaches $81.8, which will draw customers.
Assessing the Value of Solana (SOL)
Solana’s value is currently stabilising near the $25 level, although it undoubtedly had a significant gain during the previous week. As bulls enter the market, the current consolidation could also be a sign of a bullish storm to come.
Bullish market participants bought into this price decline in the hopes that they will swiftly drive the value higher and end the current consolidation. The SOL value will likely reach check critical resistance at $30 if it rises above $26 and inspires additional consumer confidence. The bears, though, are ready to put up a fierce fight there.
But if the price drops below $22, there will be a consolidation around $18–$20.
Value Assessment of Ripple (XRP)
Despite the recent significant rally in XRP, bulls did not take advantage of the momentum, indicating a decline in demand as prices rise.
The bulls will try to raise the price above the 50-day EMA and over $0.75 by the following week. If this happens, it will be a sign that bulls are taking advantage of price rebounds to make purchases. This could send the price soaring towards $0.85.
In contrast, the bears can lower the value below $0.7 and seize control. If successful, the price of XRP might experience a significant decline below the support level of $0.65, increasing the likelihood that it will fall to $0.56.
