XRP's price has shown remarkable stability as the litigation between issuer Ripple and the Securities and Exchange Commission (SEC) heats up as the final phase of the litigation approaches. On April 22nd, Ripple's legal team objected to the SEC's proposed $2 billion fine in a response, proposing a $10 million cap instead. As this incident enters a critical phase for XRP price, investors may want to shift their attention and buy other cryptocurrencies that could rise in the 2024 bull market.
1. Shiba Inu Coin: The emergence of the top virtual currency to buy
Shiba Inu Coin’s price performance has declined significantly over the past few weeks, registering a significant decline from its 2024 high of $0.00004563, which is testing the $0.00002 support.
However, this decline reflects the general outlook for the crypto market of an overall price decline. Amid geopolitical tensions in West Asia, Bitcoin once again peaked above $70,000, before plummeting to $60,000 in April.
Following the Bitcoin halving, investors are expecting supply disruptions and a subsequent parabolic rally, which is likely to impact other crypto markets through the end of the year.
Traders are eyeing further price increases Shiba Inuhas recovered from the April lows around $0.00002 to $0.000078, but you may be wondering about the immediate support of the gray band as shown on the chart.
The key levels for traders to focus on in the short term are a possible break above the resistance trend line (black) and the formation of new support above $0.000028. The main targets in the short to medium term are the yellow band at $0.00003, the red band at $0.000032, and the upper resistance at $0.000036.
2. Solana (SOL)
Solana (SOL) is a high-performance blockchain that supports decentralized applications and cryptocurrencies. It is known for its outstanding transaction speed and scalability. This is due to its unique Proof of History (PoH) consensus combined with the underlying Proof of Stake (PoS) mechanism.
After the recent decline, Solana's SOL token has rebounded strongly from the $116 low and rebounded from the 50% Fibonacci retracement level. The asset has soared 33% and is currently trading at $155. Following this positive momentum, Solana's market capitalization rose to $69.3 billion, maintaining its position as the fifth-largest cryptocurrency by market capitalization.
Solana price is now poised to test the immediate resistance level at $162, and market sentiment is biased towards the bulls for further upside potential. If this upward trend continues, we could see a 30% rally from current levels, which would force Solana to retest its 2024 peak of $210.
1. GALA
Gala (GALA), the main virtual currency of Gala Games, is essential for acquiring NFT items. GALA is fueled by blockchain transaction fees and compensates the participation of its founder node operators. The system distributes GALA and divides it evenly between node operators and Gala Games administrators.
GALA's value has surged more than 15% in the past week, showing a strong upward trend. This suggests that GALA, a small-cap altcoin, has the potential to achieve a 50x rally after the upcoming halving event. GALA price is currently $0.04847 and has experienced a slight decline of 1% in the past 24 hours. CoinMarketCap ranks it 64th with a market capitalization of $1.4 billion.
conclusion
The crypto market is gearing up for an unprecedented rally in the wake of the recent Bitcoin halving. This parabolic surge is expected to start with BTC prices, but altcoins also tend to rise along with it, so you need to be careful in choosing which cryptocurrencies to buy for the best-performing crypto portfolio . Tokens like Shiba Inu (SHIB), GALA, and Solana (SOL) have shown immense potential in the past by rising when BTC moves, so we have to highlight them in this article.
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