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Price Analysis of Bitcoin and Altcoins: XRP, Sui, and Pudgy Penguins Aiming for New Highs

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by Giorgi Kostiuk

5 hours ago

The cryptocurrency market is drawing attention, especially after the passage of the new GENIUS Act. Bitcoin increases its share, yet some altcoins show signs of growth.

Bitcoin Dominance in the Market

Bitcoin's market share has reached 60%, negatively affecting altcoin prices. This could lead to further investment outflows from altcoins and increase pressure on their prices.

XRP Price Analysis

Recently, XRP neared its all-time high of $3.60 but retraced due to significant asset outflows linked to Ripple co-founder Chris Larsen. He transferred 50 million tokens to exchanges, raising concerns among investors.

Investors are facing new warnings about becoming “exit liquidity.”CITE_NA

Price Analysis of Sui and Pudgy Penguins

Sui trades above the $4.2 level, suggesting potential for further growth. Meanwhile, Pudgy Penguins is facing challenges around the $0.045 mark, with a struggle between buyers and sellers.

Given the current circumstances, Bitcoin's dominance presents challenges for altcoins, but XRP, Sui, and Pudgy Penguins may have the potential to reach new all-time highs under favorable conditions.

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