Last week, the cryptocurrency market showed growth but soon returned to previous levels. With increasing sales among altcoins, attention is needed on forecasts for SHIB, XRP, and AVAX.
Shiba Coin (SHIB)
Today's PCE data exceeded expectations, and the Michigan index indicates high inflation expectations. Combined with unusually low consumer confidence, this led to a panic atmosphere in risk markets. While gold continues to rise, stock losses are mounting, affecting cryptocurrencies as well.
XRP Coin
Among the largest altcoins by market cap, XRP has escaped regulatory pressure. With the growth of RLUSD, we will likely feel the long-term effects of Trump’s support for U.S.-based cryptocurrencies. Various developments, including Ripple’s potential IPO, provide supportive factors for XRP.
Avalanche (AVAX)
In the last assessment, we discussed the risks of further losses. We mentioned that sales could accelerate towards $19.75, which the price is nearly approaching. If this region cannot hold as support, AVAX may continue down to $18.3 and $17.5 after the recent sharp rise.
The upcoming weeks are crucial to understanding the future dynamics of the cryptocurrency market. Investors should closely monitor developments, especially the support levels for major altcoins.
