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XMR, XRP, and UNI: 3 Altcoins to Watch as Bitcoin Rallies Past $100K
The recent surge in the value of Bitcoin has drawn attention to other cryptocurrencies with significant potential. Among these, Monero (XMR), Ripple (XRP), and Uniswap (UNI) are standing out due to their unique use cases and promising price setups.
Monero, also known as XMR, is an attractive option for investors seeking a secure and anonymous alternative in the face of government regulation tightening. The trading volume has recently decreased to $49.32 million, but open interest has increased by 4.96% to $19.74 million. This development suggests that traders are anticipating significant price volatility, with shorts being liquidated at an unprecedented rate of $92,180 in just 24 hours.
Given these circumstances, it is crucial to consider the possibility of a 26-46% increase in XMR’s value if it breaks the resistance levels set at $230.57 and $259.64. This potential gain would be substantial, considering the cryptocurrency’s current price.
Ripple, often referred to as XRP, has recently broken out of a symmetrical triangle pattern, indicating a strong uptrend. It is essential for investors to maintain their focus on the 20-day EMA, which currently stands at $2.34. Staying above this level could lead to targets of $2.73 and $2.91. A break above these levels would likely propel XRP towards $4.84.
However, it is vital to note that a failure to stay above the aforementioned EMA may weaken this bullish perspective, prompting potential losses for investors who do not reposition their portfolios accordingly.
In contrast, Uniswap has demonstrated significant whale activity in recent times, with large transactions surging by 694% within the past 24 hours. This substantial increase is indicative of a powerful price move on the horizon, as whales often guide market sentiment and drive prices upward.
Currently trading at $12, UNI is supported by several strong levels, raising the possibility that it could retest its recent high. Analysts are now predicting that the cryptocurrency’s price could be on the verge of testing new highs if it breaks above the level of $17.
In conclusion, while Bitcoin has taken center stage with its impressive rally past the significant milestone of $100K, XMR, XRP, and UNI are gaining attention due to their unique value propositions and compelling fundamental analysis.
Source: cryptonewsland.com
