XRP News Today: Altcoins Gain Traction as Bitcoin Dominance Drops to 62%

Bitcoin has been the standout performer in the cryptocurrency market, but altcoins have also started to gain traction. Bitcoin's dominance has decreased to 62%, indicating a shift towards altcoins. Ethereum's recent surge of 10% daily and 50% weekly has led some investors to speculate about the onset of an altseason.
Other altcoins such as XRP, BNB, ADA, DOGE, and Solana have also seen gains ranging from 2% to 8% in the past day. The Crypto Fear and Greed Index remains positive, holding strong at 74, which indicates continued bullish sentiment in the near term.
Despite the recent gains, there are indications that a pullback in Bitcoin's price could be on the horizon. In a recent analysis, it was noted that Bitcoin rose from $74,500 to just under $106,000 in the past five weeks. A healthy correction is considered normal after such a sharp rise, and analysts see the current dip as a potential buying opportunity. Bitcoin is currently trading around $103,743, and analysts predict a possible drop to $98,000 or $102,000 before it bounces back. However, if the price continues to climb, the next pullback could be even steeper.
For investors looking to capitalize on a potential pullback, several altcoins are being highlighted as strong candidates. XRP, for instance, has been rising following a major victory in its legal battle with the SEC. Currently priced at $2.49, it remains well below its all-time high of $3.40, making it an attractive entry point.
Cardano (ADA) has also shown strong performance, outperforming nearly all other crypto assets over the past 90 days. With its integration with Bitcoin and the introduction of the Midnight project, which offers privacy features, ADA is poised to attract new users. Priced at $0.79, ADA is about four times away from its all-time high of $3.90, presenting another great entry point.
Hedera (HBAR) is currently trading at $0.20, significantly lower than its peak of $0.57. Quant (QNT) is priced at $95, down from its all-time high of $427. With the market in a potential pullback, these altcoins could present strong entry points for the next rally.
According to experts, Bitcoin is currently in a typical consolidation phase before it possibly breaks above its all-time highs. Altcoins, on the other hand, are showing strong breakout momentum. Ethereum, XRP, and ADA are flashing strong technical signs for a potential altcoin bull run. Ethereum’s moving averages are aligning, XRP is eyeing a breakout, and ADA’s BTC pair is looking bullish, all pointing towards an explosive breakout.

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