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During a general market correction, while Ethereum (ETH) 
$2,627 and other leading altcoins lost between 10-15% in value in the past week, Santiment’s analysis suggests that XRP, APT, and LINK may make significant moves due to key developments and institutional interest.
Three Altcoins to Monitor for Anticipated Rally
The first altcoin analyzed by Santiment is Ripple 
$3‘s main network asset, XRP. With significant developments such as Bitwise filing for a spot XRP ETF this week, social sentiment around XRP has markedly increased. Additionally, the U.S. Securities and Exchange Commission (SEC) decided to appeal the court ruling regarding the XRP case. A Santiment analyst stated, “XRP’s potential moving forward is supported by institutional interest and key developments.”
The appeal news regarding the XRP case caused the altcoin’s price to drop by 15% to $0.52 on Thursday. However, amid expectations of an ‘Uptober’ rally, Ripple’s main asset has the potential to rise above $0.60.
Developments in Aptos and Chainlink
The second cryptocurrency examined by Santiment is Aptos. Aptos Labs has made an aggressive expansion move by acquiring HashPalette in Japan’s Web3 market. By integrating the widely adopted Palette Blockchain, Aptos aims to combine traditional technology with the Web3 space.
According to Santiment’s report, the U.S. Government Money Fund is set to utilize the Aptos Blockchain. It is noted that APT has the potential to rise to $20 with an increase in network activity.
The third altcoin focused on by Santiment is Chainlink 
$17 (LINK). The oracle service provider is noted for establishing interoperability with TradFi through the SWFIT platform. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) effectively connects multiple blockchain networks for financial institutions through successful trials.
Expectations for the ‘Uptober’ Rally and Bitcoin’s Role
October has begun with expectations for the anticipated ‘Uptober’ rally. However, according to Santiment, the diminishing expectations for the “Uptober” rally indicate that investors’ outlooks have shifted towards a more bearish trend. This increased pessimism may present an opportunity for the market to make a sharp upward move, at least in the short term.
Nevertheless, demonstrating strength in Bitcoin 
$104,110 is necessary to invigorate broader market sentiment. The BTC price has partially recovered at the $60,500 support level since yesterday. Maintaining this level is crucial to prevent the price from dropping to $52,000.
Santiment’s analysis provides critical data for evaluating market trends and the potential of specific altcoins. Investors can make informed decisions by considering fundamental developments and institutional interest.
