XRP is outpacing the crypto market today with an 18% pump. Holders are unsurprisingly emphatic after months of waiting for this moment.
But will it keep pumping, or are other trending altcoins like Crypto All-Stars and Hedera better investments?
XRP Price Rallies On Speculation of SEC Chair’s Resignation
The multi-year saga between the SEC and Ripple Labs, the creator of XRP, is finally ending.
Ripple Labs won a long-standing lawsuit in 2024, which caused the XRP price to skyrocket. However, some pushback from the SEC caused another correction, and XRP being has been range-bound through recent months.
But rumors of SEC Chair Gary Genlser resigning have sparked a new rally. His replacement likely will be more pro-crypto, given President-elect Donald Trump’s positive attitude towards the sector.
Currently, XRP is trading at $0.8, up 18% today, 44% this week, and 47% this month. It holds a $45 billion market cap and an $11.26 billion trading volume, which is up 77% today.
Interestingly, this comes at a time when the broader crypto market has taken a dip, with the sector’s total valuation down 1.68% today.
However, that shows the sigh of relief that XRP investors feel as the threat of the SEC diminishes.
Trader Spots Macro Breakout Pattern On XRP Price Chart
The XRP price chart is breaking out. Not just short-term but also from a multi-year downtrend.
Prominent trader Crypto Michael noticed in July that XRP was preparing to break from a “7-year-long bull pennant.”
Typically, the longer an asset trades inside a range, the more explosive the breakout will be. XRP enthusiasts will undoubtedly be pleased with that.
Crypto Michael quoted the tweet on Thursday, noting that XRP is now breaking above the pennant, indicating that a longer-term rally could be coming.
But as XRP gains pace, a handful of other cryptos are also showing strength.
These Altcoins Could be Next to Explode
With XRP surging and Bitcoin recently breaking $90K, the crypto market is currently packed with opportunity.
And amidst that, one of the projects backed for huge gains is Crypto All-Stars.
It’s no secret that the meme coin sector has outperformed the market this year, but Crypto All-Stars offers investors a rare opportunity to buy a light-hearted token with real utility.
They’re building a meme coin staking app that lets users deposit Dogecoin, Shiba Inu, Pepe, Floki, and more to earn passive rewards.
However, users must hold $STARS to access the platform, and their rewards depend on how much they have.
This means that holders of all the top meme coins are economically incentivized to accumulate as much $STARS as possible – that’s a recipe for high demand and low supply.
The project is undergoing a presale and has just crossed the $3.7 million total raised mark.
Yet, analysts think the big gains will follow the presale. ClayBro even said it could 67x in price.
But XRP and Crypto All-Stars are not the only cryptos showing promising signs today. Hedera is another crypto that is thriving. It’s a scalable layer 1 blockchain that has made impressive moves this week.
Notably, Canary Capital Group LLC filed an S1 registration for a Hedera ETF with the SEC. Given the rumors of Gary Gensler stepping down, this could well bolster the chances of approval and longer-term price rally.
Currently, HBAR is trading at $0.06952, up 14% today and 40% this week. It has a $2.623 billion market cap and a $494 million 24-hour trading volume.
