Altcoin Market Outlook: Here’s What Next For XLM and XRP Price

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In recent developments, the altcoin market has found multiple reasons to anticipate a bullish trend in the upcoming weeks. Bitcoin dominance has dipped below 50 percent, accompanied by a momentary flirtation with the $29.5k price mark. This weakness in the Bitcoin market has invigorated the bullish momentum of altcoins, with XRP and XLM surging approximately 5 percent to trade around 80 cents and 14 cents respectively.

Coin Bureau analyst Dan the Mann (Champ) recently conducted an analysis that suggests XRP and XLM could continue leading the altcoin market in terms of gains in the coming weeks.

XRP Price Analysis

The ongoing Ripple vs. SEC case has provided a boost to altcoins, especially XRP, as a summary judgment categorized it as a non-security asset. As a result, the alt season could potentially overshadow Bitcoin’s gains in the near future.

Regarding XRP Price, the analyst holds an optimistic view, predicting that the digital asset may reach the $1 mark and potentially extend another 30 cents beyond that. Furthermore, he identifies the next major resistance level for XRP at around $1.3, which implies a potential spike of 64 percent from the current price levels.

Also Read: Ripple Vs SEC News: John Deaton Discusses the Significance of the Torres Doctrine

Stellar (XLM) Price Analysis

In the case of XLM, the analyst highlights three key levels that crypto traders should closely monitor. On the upper side, significant resistance levels are projected around 17 cents and 24 cents for XLM’s price movement. Conversely, on the lower end, $0.08 is identified as a robust support level that could potentially hold in the event of a market capitulation.

These analyses indicate a positive trajectory for XRP and XLM, suggesting that they could play a leading role in the altcoin market’s upward momentum in the weeks to come.