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These Altcoins are Set to Skyrocket on Donald Trump’s Inauguration Day
The highly anticipated inauguration day of President-elect Donald Trump is just around the corner, and crypto enthusiasts are eagerly waiting for the impact it will have on the market. While opinions regarding his stance on cryptocurrency differ, some altcoins are expected to witness significant surges in value as a result.
It is reported that Trump has taken an interest in cryptocurrency and might announce new policies during his inauguration day. The excitement surrounding this event has led to a surge in prices of several coins. In this article, we will delve into the analysis of three such altcoins – Solana (SOL), Ripple’s XRP, and the newly-launched Trump meme coin.
Solana (SOL) Price Analysis
As seen in the price chart above, SOL has been on an impressive run recently, breaking through immediate resistance lines and reaching its November highs. The coin currently trades at $270, up 8.9% from yesterday’s rate. This uptrend is likely to continue, as indicated by the rising 20-day average and the RSI entering overbought territory.
While there may be a minor retest of immediate support levels, it is expected that SOL will push above the slight resistance at $303. If this happens, the coin could potentially reach $350 tomorrow.
Ripple’s XRP Price Analysis
XRP has been making significant gains in recent days, primarily driven by speculation surrounding new SEC policies and Ripple’s ongoing lawsuit. As a result of Trump’s potential support for cryptocurrency, XRP is expected to see further surges tomorrow.
Currently trading at $3.2, the RSI level remains near 60, indicating that there may be room for additional growth. To ensure a robust surge, XRP needs to hold above its EMA20 trend line. If this holds true, the coin could potentially reach $3.8-$4.
Trump Meme Coin Price Analysis
The newly-launched Trump meme coin has also been drawing significant attention due to Trump’s involvement and its rapid growth of 18000%. As a result, Coinbase is likely to list the meme coin after such an impressive start.
This article concludes by predicting that these altcoins are set to witness significant surges in value as a direct impact of Donald Trump’s inauguration day.
Source: coinpedia.org
