Originally published on: November 30, 2024
Bitcoin’s dominance in the crypto market has shown a promising trend for altcoin investors, with the potential for a surge in smaller cryptocurrencies during December. Analysts are eyeing XRP for a potential price rally leading into 2025.
BTC dominance, a key indicator measuring Bitcoin’s share of the total crypto market value, has dipped to 56.1%, signaling the start of what is known as “altseason.” This term refers to the period when cryptocurrencies other than Bitcoin see a collective uptrend, benefiting from the decline in Bitcoin’s dominance.
Investors seem to be shifting their focus from Bitcoin to altcoins, with assets like Ether gaining traction. Analysts have noted a rise in demand for leveraged Ether ETFs, hinting at a potential rally that could push the price above $4,000.
XRP, the sixth-largest cryptocurrency globally, is also expected to see positive movement in the market. Analysts predict that XRP’s price could reach $2.57 by the end of 2024, with the possibility of further gains driven by developments like a potential XRP ETF.
With the SEC expected to see a change in leadership on Jan. 20, 2025, there is optimism in the market for more crypto-based ETFs and favorable regulations for cryptocurrencies. This event, along with other catalysts like Trump’s presidential inauguration, could fuel a rally in altcoins like XRP and Ether.
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