Despite the volatile nature of the cryptocurrency market this week, the total market value continues to remain above $1.2 trillion. Looking at the top 10 cryptocurrencies, it is evident that Cardano (ADA) has experienced the biggest loss in value within the past 24 hours. However, overall, cryptocurrencies are still holding steady and experiencing consolidation, indicating that the upcoming week may be eventful. So, which altcoins are likely to make moves next week?
One altcoin that stands out, especially those with a unit price below $1, is XRP. XRP is currently considered the most responsive altcoin to news in the cryptocurrency sector. Despite a positive preliminary decision in the SEC case, the lawsuit is still ongoing, posing risks.
Prominent cryptocurrency analyst Michael Van de Poppe commented on the matter, stating that XRP holds promise for the future and should be part of many investors’ portfolios.
Another altcoin on the list is Cardano (ADA). ADA continues its growth focused on DeFi and the total value of locked tokens on the network has surpassed $600 million. This is a significant development, as increased DeFi activity leads to increased usage.
In third place is Shiba Inu (SHIB). SHIB consistently surprises investors with new developments, and the recent Telegram announcement by the Shiba Inu team advises investors to be prepared for surprises. SHIB is currently trading at $0.000010 and may react strongly to surprises.
In fourth place is Nano (XNO). According to renowned analyst Cryptollica, Nano is poised for an uptrend with a reverse head and shoulders formation. Evaluating the XNO/USDT pair, the analyst suggests that the price could reach $17 this year, indicating further potential for growth.
Currently, XNO is trading at $0.65 and has experienced a 1% decrease in the past 24 hours.