Amid recent changes in the cryptocurrency market, XRP Coin increased by 11%, with the total value of cryptocurrencies reaching new heights. We examine how current events influenced key cryptocurrencies like XRP, Shiba Coin, and PEPE Coin.
XRP Price Dynamics
Following Trump's election victory, expectations for regulatory relief on cryptocurrencies allowed XRP Coin to achieve significant gains. Although the popular cryptocurrency is approaching the $3 mark, a decline initiated by BTC’s price drop to $108,000 disrupted this rally. XRP has risen over 450% post-election, successfully defending the $2.01 support level, indicating potential for further increases.
Shiba Coin and PEPE Coin Trends
Shiba Coin remains the second-largest cryptocurrency by market cap, making considerable strides in building its ecosystem. In the coming days, a test of the $0.0000253 level is possible, targeting $0.0000293. PEPE Coin support is maintained at $0.00001958, aiming for a resistance target of $0.00002288.
Overall Market Trends
BTC price hovers near $97,000, with risk appetite expected to strengthen at $98,500. Recent downward trend formations have been broken, as the $97,000 level has been reclaimed after days of consolidation.
The rise in prices of key cryptocurrencies, such as XRP, Shiba Coin, and PEPE Coin, showcases investors' confidence in the potential of these assets. The stability of BTC at $97,000 supports the overall positive market sentiment.
