The cryptocurrency market seems to have found its footing again, a signal of a potentially bullish October. One of the biggest pointers that a bull wave could be underway is the rising Bitcoin buying volumes.
At the same time, institutional buyers are getting back into the market. Among those looking to make a big entry at current prices is Ark Invest, one of the most pro-crypto funds around. With this potential for gains, it makes sense to start looking into low-cost altcoins that could outperform the market if FOMO kicks in. Some of the ones with the most potential are as below.
XRP (XRP)
XRP (XRP) has started the new month with good news, and it won’t be long before investors take note of it. The big news around XRP is the growing investor expectation that Ripple will win the case against the SEC. This excitement comes from an order by judge Torres that the SEC should the documents that were written by William Hinman, who was previously in charge of the corporation finance division.
The big deal about these documents is speculation by Ripple that Hinman may have written that Ethereum not being a security. Ripple lawyers could use his writings to add weight to their claim that XRP is not a Ripple security. There is speculation that if Ripple wins on this front, XRP could end the year higher by 50 – 100%. If buying volumes keep rising as they are doing at the moment, XRP is without a doubt one of the top cryptocurrencies to watch in the coming weeks.
Cardano (ADA)
Cardano (ADA) is one of the cryptocurrencies that have big news coming up that could help propel it higher in the short term. The big news is an announcement by Charles Hoskinson that the Age of Voltaire is pretty close. The expectation is that this move will open up the ability for builders to create on Cardano, and will make Cardano a leader in the latest tech developments in blockchain, just as they did with their innovation in staking.
This is a big deal, and if the broader market picks momentum, it could see Cardano (ADA) emerge as one of the best-performing cryptocurrencies in the coming weeks. The odds are clearly in its favor.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is one of those meme coins that tend to do well in bull markets. As such, if there is an upsurge in cryptocurrency prices in the short term, then Shiba Inu could be among the ones to watch. One of the key factors that could trigger speculation around Shiba Inu is whale activity.
At the start of the month, a Shiba Inu whale moved millions of dollars worth of Shiba Inu to an exchange. This has triggered speculation that they could be planning to do a leveraged SHIB trade. This coupled with the ongoing Shiba Inu token burn is likely to keep drawing investors especially if the market keeps gaining traction especially now that marketwide volumes are on the rise.