Top 3 Cryptocurrencies That Could Gain This Week

The cryptocurrency market continues its lackluster performance. Bitcoin (BTC) has fallen to the $96,000 level and is inching closer to the $95,000 price point. The global crypto market cap has dipped 2.5% in the last 24 hours to $3.33 trillion.

Also Read: De-Dollarization and the Privacy Debate: The Geopolitical Push for CBDCs

New Bearish Developments Hurting The Cryptocurrency Market

cryptocurrency crash
Source: Watcher Guru

The latest dip could be due to Argentine President Javier Milei facing pump-and-dump accusations related to the Libra (LIBRA) token. The project’s market cap surged to $4.56 billion before plummeting nearly 94%.

On the other side of the world, India’s Directorate of Enforcement (ED) seized $190 million worth of cryptocurrencies. The assets were connected to the fraudulent Bitconnect platform.

Both developments may have caused a spike in investor worry. Macroeconomic factors may have also added to the dip in investor sentiment. Market participants may be weary about investing in risky assets like cryptocurrencies.

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Top 3 Cryptocurrencies That Could Gain This Week

1. Ripple (XRP)

XRP cryptocurrency coins stacks
Source: Bitcoin.com

Ripple’s XRP has rallied by 11.7% in the weekly charts. The asset has made quite an impression on the cryptocurrency community this year. XRP breached the $3 mark earlier this year for the first time in nearly seven years. The asset could continue its rally over the coming weeks.

2. Cardano (ADA)

cardano cryptocurrency coins
Source: Cardano Feed

ADA has also experienced quite a rally over the last week. The cryptocurrency is up by more than 16% in the weekly charts. ADA is currently outperforming Bitcoin (BTC), Solana (SOL), and Ripple’s XRP, among others.

3. Litecoin (LTC)

Litecoin LTC Logo
Source: Webopedia

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LTC was among the best-performing cryptocurrencies in the top 100 projects last week. The asset’s price surged after Bloomberg ETF analysts said that the asset has a 90% chance of getting an ETF this year. LTC has faced a correction in the daily charts but is up double digits in the weekly charts.

BTC
2.91%
XRP
6.75%
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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