After a positive price action in recent days, here is a look at several leading altcoins that could offer promising returns.
Bitcoin Cash (BCH) posts gains as it approaches next month’s halving
Traders seeking strong returns could do worse than consider Bitcoin Cash, which is scheduled for its next halving in about 15 days.
BCH has risen roughly 55% since the March 12 crash and may continue its current bullish run.
Some analysts argue the price will struggle to break through the $250 level because underlying volume remains too light to power a sustained move past resistance.
More optimistic observers believe the upcoming BCH halving could give the asset a meaningful boost.
Altcoin price movements often correlate with Bitcoin to some degree, and the future direction of BTC remains uncertain as it navigates its current channel.
Ethereum could outpace Bitcoin in the months ahead
Ethereum (ETH) is also trading higher, and recent progress has helped reinforce its fundamental case.
Earlier this year the smart contract platform climbed about 100% and outperformed Bitcoin in January and February, prompting many investors to take a closer look at ETH.
The decentralized finance (DeFi) ecosystem is expanding as well, which bodes well for Ethereum’s prospects — its smart contract capabilities and decentralized functionality give ETH a significant advantage over Bitcoin in the years to come.
For example, Uniswap, a decentralized exchange built on Ethereum, launched the second version of its protocol recently, demonstrating active use of Ethereum-powered development tools and strengthening the platform’s long-term investment potential.
Ripple shocks market by moving 130 million XRP to an unknown wallet
While XRP has also risen alongside Bitcoin and the broader market, Ripple developers — who hold sizable XRP reserves — moved a large amount of tokens from a central holding into an unknown wallet, a transfer that sparked substantial speculation.
A longstanding criticism of Ripple is that the company exerts centralized control over XRP, enabling the possibility of market influence by its holders.
Still, XRP has remained among the top five cryptocurrencies by market capitalization for some time, and Ripple’s team has repeatedly denied that it can or does manipulate the price.
The movement of large holdings has led to conjecture that a significant price move could be imminent, either upward or downward.
Some technical analysts suggest bullish signals may be forming, pointing to patterns such as a descending coin that can precede a breakout.
New buyers of XRP should expect notable volatility in the near term, though the direction of the next major move remains uncertain.