The crypto market is starting to go more mainstream, especially after the new GENIUS Act was passed last week. That news has helped push Bitcoin to even higher levels of dominance, meaning most of the money right now is flowing into Bitcoin rather than altcoins. But as investors start buying during the altcoin dip, popular altcoins like XRP, Sui, and Pudgy Penguins could be on track to hit new all-time highs in the coming week.
Bitcoin Dominance May Restrict Altcoins
Bitcoin’s dominance has grown a lot in recent weeks, now hovering over 60% of it. As a result, many altcoins have seen their prices drop. If this trend continues, even more money could move into Bitcoin, which might put pressure on altcoins. Still, despite this, top altcoins like XRP, Sui, and PENGU could break out and hit new all-time highs in the coming week.
XRP Price Analysis
Recently, XRP hit near all-time highs above $3.60, but the achievement was quickly overshadowed by large outflows from a wallet linked to Ripple co-founder Chris Larsen. Investors face new warnings over becoming “exit liquidity” after Ripple co-founder Chris Larsen moved 50 million tokens to exchanges. He still has around $9 billion left to sell.
If concerns around XRP sell off decline, XRP price might attempt to retest its resistance at $3.6. As of writing, XRP price trades at $3.4, surging over 5.5% in the last 24 hours.
The RSI level is currently on a rise, heading toward the midline. If buying demand continues and XRP breaks above $3.6, it might form a new ATH next week. However, a failure to hold above the EMA20 trend line on the 4-hour chart might plunge the open interest, eliminating hopes of a new ATH.
Sui Price Analysis
SUI soared above the $4.2 resistance, and the bulls have successfully maintained the price above the breakout level. That suggests the buyers are trying to flip the $4.2 level into support. As of writing, SUI trades at $4.3, surging over 13% in the last 24 hours.
If the price breaks above immediate Fib levels, the SUI/USDT pair could continue the uptrend. As a result, SUI price might reach its previous ATH of $5.35.
Although the trend remains up, the overbought level on the RSI increases the risk of a correction or consolidation in the near term. If the price dips and closes below $4, the pair could tumble to the 20-day EMA.
Pudgy Penguins Price Analysis
PENGU price is currently stuck in a tough fight between buyers and sellers around the $0.045 mark. If the price falls and closes below EMA20 level, sellers might push it down to $0.036.
But if the price bounces strongly from $0.046, it would show that buyers are buying in at resistance levels. In that case, they’ll likely try again to break through the ascending resistance line at $0.051. If they manage to do that, Pengu price could surge to a new ATH next week.
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