The cryptocurrency market seems to be recovering this month. Bitcoin (BTC) has reclaimed the $67,000 level, and the global market cap has climbed to $2.42 trillion. October is usually a bullish month for the crypto market, and this year seems to be no different.
Another factor that may be pushing the market is the upcoming US Presidential elections. Several analysts anticipate a market-wide rally if Donald Trump wins the election. Trump’s pro-cryptocurrency stance may lead to many assets hitting new highs, given he wins.
Another interest rate cut in November is also possible. This move could encourage more investments in risky sectors.
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Top 3 Cryptocurrencies That Could Rally By 30% This Weekend
1. Ripple’s XRP
Source – CryptoRank
Ripple’s XRP token has struggled to break past the $0.60 level. The fintech company’s lawsuit settlement with the SEC may pave the way for the cryptocurrency to hit a new high soon.
According to CoinCodex, XRP could hit $0.72 on Sunday, Oct. 20, 2024. Reaching $0.72 from current prices will translate to a rally of about 30.9%.
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Source: CoinCodex
2. Shiba Inu (SHIB)
Source – Token Metrics
Shiba Inu (SHIB) is another popular cryptocurrency that could witness healthy gains over the weekend. The asset has struggled to regain the momentum from earlier this year.
According to CoinCodex’s analysis, SHIB could hit $0.00003060 on Sunday, Oct. 20, 2024. Hitting $0.00003060 from current levels will entail a rally of about 68.6%. CoinCodex does not anticipate the cryptocurrency’s price to hold, predicting a correction to current levels by early November.
Source: CoinCodex
3. Fantom (FTM)
Source: Pixabay
Fantom (FTM) is another cryptocurrency project that could witness a good rally this weekend. CoinCodex analysts predict FTM to hit $0.83 on Sunday, Oct. 20, 2024, and $0.93 on Monday, Oct. 21, 2024. Hitting $0.93 from current prices will translate to a rally of more than 25%. The asset could go as high as 30%, but we will have to wait and see.
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Source: CoinCodex