3 Altcoins Poised to Explode After the Release of US PPI Inflation Data
Jakarta, Pintu News – Ahead of the release of the US Producer Price Index (PPI) data with projections of 0.3% monthly and 2.7% annualized, the cryptocurrency market showed high volatility.
Coupled with Donald Trump’s statement encouraging the Fed to cut interest rates, the global crypto market capitalization surged to $3.38 trillion. Investors are now focused on chasing altcoins that have the potential to rise sharply in the near future.
Here are 3 altcoins that have the potential to explode after the US PPI inflation data is released!
Ripple (XRP)
Ripple is showing a steady performance with prices holding above Rp42,500 ($2.50). In today’s trading, XRP recorded an increase of 2.57% with a daily trading volume of IDR 107.3 trillion. Although the volume has decreased by 37.86%, XRP’s market capitalization remains high at IDR2,560 trillion, making it the fourth largest crypto at the moment.
In terms of technicals, the RSI (Relative Strength Index) indicator is approaching the overbought zone and is close to breaking through it. Meanwhile, the simple average line (SMA) provides strong support to the uptrend of XRP prices. If this momentum continues, the price of XRP could potentially head towards the Rp51,000 ($3) level in the near future. Conversely, bearish pressure could drag it back to the strong support at IDR34,000 ($2).
Also read: Black Mirror-style Crypto Game: AI Reputation Score is Now a Reality, Here’s How It Works!
Solana (SOL)
Solana successfully retested resistance at the IDR3,060,000 ($180) level with a price surge of 6.38% today. Although SOL’s trading volume fell by around 30%, the altcoin still showed a strong recovery in momentum, indicating increased buying interest from investors.
Technical analysis reveals that the SMA on the daily time frame continues to support Solana’s uptrend. In addition, the MACD indicator is also showing positive signals, strengthening the short-term bullish prediction. If Solana is able to stay above the support level of IDR3,009,000 ($177), then the next target is to break IDR3,400,000 ($200). However, if selling pressure increases, SOL could correct back to IDR2,550,000 ($150).
Also read: USDC vs USDT: Which Stablecoin Has the Edge?
Hedera (HBAR)
Hedera has remained steady above the IDR3,400 ($0.20) price despite market volatility. The altcoin has recorded a surge of more than 30% in the past month, with a market capitalization of IDR155.2 trillion, ranking 16th on the list of the largest cryptos.
The MACD technical indicator shows a strengthening green histogram, signaling a consistent buying impulse. More interestingly, there has been a Golden Cross pattern on the 50/200 EMA on the daily time frame – a classic signal of a medium-term uptrend. If bull strength remains dominant, HBAR prices could advance to IDR4,420 ($0.26). However, if selling pressure dominates, a potential drop to IDR3,196 ($0.188) remains to be watched.
That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.
Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Get a web trading experience with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!
*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference: