Altcoins
Santiment Reveals the Top Two Altcoins to Buy This Week
Amidst the roller coaster of emotions of the recent past, the cryptocurrency market has entered a new phase of bullish speculation. Bitcoin The Fear and Greed Index (BTC) surged 65% on Tuesday, signaling crowd greed and an increased fear of missing out (FOMO).
Cryptocurrency buying pressure increases
Earlier today, leading stablecoin issuer Tether issued $1 billion USDT on the Tron network, increasing overall buying pressure. On-chain data shows that long-term crypto holders have accelerated their accumulation pace in recent years.
For example, US spot BTC ETFs have seen over $1.5 billion in inflows in the past two weeks. On-chain activity for the altcoin industry has increased significantly amid reports of next week’s listing Spot Ether ETF in the USA.
Best Altcoins to Buy This Week
XRP Price
Amid the anticipated settlement between the US SEC and Ripple Labs in the ongoing lawsuit, speculations XRP Price Stocks have surged significantly. According to on-chain data analysis conducted by Santiment, Ripple-backed XRP has seen a notable increase in FOMO, with the underlying value surging by over 20% in the past five days.
At the time of writing, XRP price was hovering around 54 cents, with a market dominance of around 1.33%. From a technical perspective, XRP price against the US dollar on the weekly time frame needs to reclaim the 50 and 200 moving averages (MAs) as support to ensure a rally towards the next range between 58 and 60 cents.
Litecoin (LTC) Price
The price of Litecoin (LTC) has surged more than 20% over the past two weeks to trade above $71 on Tuesday, fueled by increased on-chain whale activity and rising FOMO among traders.
Like XRP, Litecoin Price must close above the 50 and 200 weekly moving averages (MAs) to invalidate the bearish sentiment of the past four months.
Read also : Here’s Why Breaking Above $65,000 Could Be an Uphill Battle for Bitcoin (BTC) Price Rally