By CoinGape
The cryptocurrency industry is an ocean of opportunities, often snapped up by fast fingers. Many times if the ship sails before getting on board, it’s an uphill battle to catch up—and if you do, you could end up sinking with the same ship. However, there are plenty of second chances, thirds, fourths, and even fifths. For this reason, investors who may have missed out on the Solana rally could consider leading Ethereum rivals like XRP, SHIB, and LUNC.
Why Buy Ethereum Rivals
Solana has since its inception been a noteworthy rival to the world’s second-leading cryptocurrency, Ethereum. The token boasts an efficient blockchain, scalable and able to support a high transaction throughput at a fraction of the fees charged to send value on Ethereum.
Like Solana, other Ethereum rivals emerged with immense potential. For instance, XRP runs on the XRP Ledger (XRPL) which supports value transfer across international borders. The network has over the years partnered with banking institutions using its On-Demand Liquidity (ODL) platform to send and receive money.
Shiba Inu, on the other hand, started as a meme coin rival to Dogecoin. However, the token has transformed from a simple dog-themed joke cryptocurrency to a powerhouse hosting other tokens and scaling networks like Shibarium. SHIB is very affordable compared to Ethereum’s at $3,800.
The Terra Classic community has shown resilience since its downfall in 2022. After crashing almost to zero LUNC has continued to rally, aiming to reach $1 in the next bull market.
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XRP
XRP holds above the crucial $0.52 support on Friday amid increasing signs of an inbound bullish move.
Market factors are strong for Bitcoin and altcoins. The approval of Ethereum ETFs raised the stakes for XRP and Solana to receive similar products in the future.
XRP stands out as the eighth largest cryptocurrency, with a market cap of $28 billion. With a green candle established on the four-hour chart, this could be a good chance for traders to seek exposure to longs ahead of a larger move up.
The Relative Strength Index (RSI) in the same time frame is starting to reinforce the bullish grip with potential. Should the RSI cross above the descending trend line and close the gap to the midline in the neutral area, the path of least resistance would uphold the uptrend.
The increasing four-hour candle shows that buyers have the upper hand. However, for XRP to establish a sustainable uptrend, all three exponential moving averages (EMAs) must flip to provide support. Similarly, the Moving Average Convergence Divergence (MACD) dons a bullish signal likely to encourage traders to consider buying XRP. A major rally would erupt if resistance at $0.56 is broken, paving the way for a smooth path to $1.
2. Shiba Inu (SHIB)
Data from CoinGecko shows Shiba Inu price traded around $0.00002573 during European hours, a 3.6% decrease in the last 24 hours and a 6.6% increase in 7 days.
SHIB price is currently in an ascending triangle and almost at the end. Ascending triangles show investors’ interest and accumulation as the highs remain relatively flat with lows rising higher. If the market structure holds, Shiba Inu may break out on the upside and rally 32% to around $0.000036.
Shiba Inu’s price fundamentals are strong as the meme coin rides in favor of its huge community. Coinbase Futures recently announced support for SHIB perpetual futures, with trading beginning on May 30, 2024.
Several renowned crypto analysts have also called for imminent SHIB price breakouts in the near future. Ali Martinez suggested a 20% upswing in price if the SHIB price breaks above $0.000025.
3. Terra Classic (LUNC)
Over the past week, LUNC price has been trading upward, with an 8% surge driven by increasing market optimism and renewed investor interest. Additionally, in the past month, this token experienced a steady rise of 15%, trading in a range of $0.0001 to $0.00012, reflecting a positive market sentiment.
As bullish sentiment gains momentum, Terra Classic (LUNC) could surpass the $0.00013 mark, signaling a renewed upward trend. This positive market shift might push the Terra Classic price toward breaching the resistance at $0.0002, aiming for $0.0005 in the next bullish cycle.
Bottom Line
Coming up with a winning crypto portfolio is not an easy feat for many. However, investors who focus on solid narratives like Ethereum and its popular rivals are on the path to achieving more from their holdings. A potential bull run in 2024 could turn the fortunes of ordinary people to achieve immense success.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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