Originally published on: November 30, 2024
Bitcoin’s dominance in the crypto market has taken a dip, signaling a potential altcoin season that could see smaller cryptocurrencies surge in December and beyond. Analysts are keeping a close eye on XRP’s price trajectory, predicting a rally that could extend into 2025.
Altseason, a term used in the crypto community to describe the collective surge of cryptocurrencies other than Bitcoin, seems to be in full swing as Bitcoin’s dominance falls to 56.1%. This shift indicates that investors are diversifying their portfolios and allocating funds to alternative coins.
Interest in altcoins like Ether is on the rise, with leveraged Ether exchange-traded funds seeing a significant uptick in demand since the 2024 presidential election. Analysts are optimistic about Ether surpassing $4,000 in the near future.
XRP, the sixth-largest cryptocurrency, stands to benefit from Bitcoin’s declining dominance. Analysts predict that XRP’s price could rally to $2.57 by the end of 2024, fueled by potential ETF developments.
The filing for an XRP ETF with the SEC by asset manager 21Shares has further boosted optimism for XRP’s price outlook. Additionally, upcoming events in early 2025, such as SEC Chair Gary Gensler’s resignation and Trump’s presidential inauguration, could serve as catalysts for further altcoin growth.
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