XRP is going crazy, with a market cap approaching a trillion. After Trump took office, favorable news has been continuous, just like a pure bloodline Trump concept coin, with a large market cap that can soar in the short term. XRP has already become the third largest market cap after Bitcoin and Ethereum. But there is still some logic to it, as it's used for payments. It has also shed its legal troubles, backed by pure American blood, and is said to be the 'Divine Chain' that Trump uses to counter the existing government. Today, XRP's trading volume has already surpassed the total of Bitcoin and Ethereum combined. Typically, when such situations arise, the NFT market tends to recover over the weekend. With the rise of Ethereum, small images have also started to thaw gradually from a complete standstill, but it's still limited to thawing; there hasn't been full melting or burning yet. JTO will unlock about 135 million tokens on December 8, which is 103% of the current circulation, valued at approximately $507 million.
Market Interpretation
Everyone can take a look back at the current state of Bitcoin, and it does resemble the situation at the end of March last year. If this position cannot break through, a pullback will occur, typically around 6-8 points, but it may not break 90,000. So overall, it should still be a volatile market primarily focused on the rise of altcoins during this period. If it fails to break 100,000 again, a real pullback may occur. The Ethereum exchange rate has started to pull back, but I still believe its rate can reach 0.04.
SOL continues to retrace, with 220 still being a short-term support level.
Altcoins:
Old coins are all watching XRP rise, but the logic here is that old coins supported by domestic U.S. projects are pushing up, such as HBAR and ALGO. Whether there is still room for growth, I cannot say. ETC, on the other hand, hasn’t really moved at all this round; is the doomsday chariot coming or not?
This time, altcoins seem to have entered a festive season, but I expect Bitcoin won't stay consolidated here for long, at most another day, and it should choose a direction in the short term. There are some very strong coins that can be repeatedly bought at high and low points; these coins won't collapse just because of a pullback, like XRP. But don’t chase easily; instead, look for a more significant target in the future.
I wonder if my '6x Law' will work well on XRP. I’ll give it a try and let you know the results later.
