The cryptocurrency market appears to be consolidating at the moment, with Bitcoin (BTC) remaining below the $58,000 mark. This stagnation comes as the global crypto market cap has experienced a decline of 0.4% over the past 24 hours, bringing it down to approximately $2.07 trillion.
The recent lackluster performance of Bitcoin (BTC) may be attributed to a combination of low investor sentiment and a selloff from those who bought at its peak price in March. Notably, inflation in the US decreased by 2.5% in August—lower than analysts had anticipated—which could signal a potential recovery in the market.
The Federal Reserve has announced an interest rate cut starting this month, a move that could significantly impact financial markets. With this in mind, let’s explore three promising crypto assets to keep an eye on this weekend: Toncoin (TON), Ripple (XRP), and Avalanche (AVAX).
Top 3 Must-Watch Cryptocurrencies This Weekend
1. Toncoin (TON)
Toncoin is a cryptocurrency that continues to stand out against the current market trends. Recently, the TON coin has shown impressive gains, with an increase of 2.18% in daily charts, 15.22% over the week, and 2.32% across the past 14 days.
This surge in value might be linked to the recent statements made by Telegram’s CEO and founder Pavel Durov, who spoke publicly for the first time since his arrest earlier this month. Durov’s comments have likely sparked renewed interest and confidence in the TON project, highlighting its potential and the growing community support behind it.
According to our technical and price analysis, we project that the TON cryptocurrency will reach a trading price of $6.35 on Sunday, September 15, 2024.
2. Ripple (XRP)
XRP is currently breaking away from the prevailing market trend, showcasing impressive resilience. While Bitcoin (BTC) has seen a slight increase of 0.31% in daily charts, XRP has surged by an impressive 5.17% during the same period. This upward momentum is further reflected in its weekly performance, with a notable rise of 5.60%, and a 2.1% increase over the past 14 days.
Analysts suggest that this sudden spike in XRP’s value may be linked to Grayscale’s launch of the first US XRP trust, a significant development that could potentially attract more institutional investment and elevated XRP’s status in the crypto market. As a result, many are expecting that XRP could continue its upward trend throughout the weekend, making it an altcoin to watch closely.
According to our technical analysis and market trends, we predict that the XRP Coin may reach a price of $0.62 by Sunday, September 15, 2024.
3. Avalanche (AVAX)
AVAX, the native cryptocurrency of the Avalanche network, ranks third on our list and is showing impressive resilience against market fluctuations. Recently, it has rallied by 1.98% in the daily charts, 11.79% over the past week, 4.01% in the 14-day charts, and an impressive 11.38% over the last month.
This strong performance highlights AVAX’s growing adoption and the increasing interest in its scalable blockchain solutions, making it a noteworthy player in the crypto space.
According to our comprehensive technical analysis and current market trends, we predict that the AVAX Coin is likely to reach a value of $25.38 by Sunday, September 15, 2024.
Also Read: Top 7 Best Crypto Wallets for Gambling in 2024
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
