- Over the past week, the altcoin market took a downward turn despite Ripple’s SEC victory.
- If the price of BTC falls below $30.5K in the coming week, it could spell good news for altcoins like XRP, BNB, and LTC.
- All three altcoins were on the verge of breaking below crucial support levels on their respective charts.
Despite Ripple’s (XRP) recent victory against the SEC, the altcoin market still took a bit of a downturn over the past week. This could be a reflection of the fact that many traders decided to take bearish positions on altcoins, which means that this coming week could be make or break for cryptocurrencies like Binance Coin (BNB), XRP and Litecoin (LTC).
One of the deciding factors that will influence these tokens’ performances will be the price of the crypto market leader, Bitcoin (BTC). If the price of the crypto king falls below $30.5K in the coming week, it could cause investors’ eyes to wander towards altcoins like BNB, XRP, and LTC, potentially driving up their prices.
CoinMarketCap indicated that all three of these altcoins saw their prices drop over the past day of trading. XRP was worth about $0.7389 at press time after its price…
The post BTC Falling Below $30.5K Could Spell Good News For Altcoins appeared first on Coin Edition.
The post BTC Falling Below $30.5K Could Spell Good News For Altcoins appeared first on Coin Edition.