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The $118k level was a key battleground in the short-term, and the rising whale ratio could be an early warning of a deeper price dip.
The post XRP, Sui, and Pudgy Penguins Set to Hit New All-Time Highs Next Week: Top Altcoins to Watch appeared first on Coinpedia Fintech News 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. XRP/USD 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. SUI/USDT 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. PENGU/USDT 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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The XRP community is facing fresh warnings after Ripple co-founder Chris Larsen transferred 50 million XRP tokens to exchanges, sparking fears among investors of being used as “exit liquidity.” The transaction triggered a wave of concern from analysts and market watchers who believe the move may be part of a larger sell-off strategy. J.A. Maartunn, a contributor to the on-chain analytics firm CryptoQuant, weighed in on the situation via social media platform X. “Don’t get dumped on,” Maartunn cautioned. “Don’t be the exit liquidity. Protect yourself.” Massive Holdings Raise Red Flags Larsen’s transfer came just after XRP briefly surged to highs near $3.60 on July 17, approaching its all-time record. Despite the rally, the excitement was quickly tempered by outflows from a wallet linked to Larsen, prompting mixed reactions. Some interpreted the move as normal profit-taking, while others accused him of exploiting the price peak to offload tokens. Maartunn highlighted that the 50 million XRP moved represents only a small portion of Larsen’s reported holdings. According to him, Larsen still holds around 2.58 billion XRP, worth approximately $8.83 billion at current prices. “If $200M was just the warm-up… what’s next?” he asked. Market Pullback After Rally The recent sell-off by Larsen coincided with a broader correction in XRP’s price. After surging as part of a wider altcoin rally—following Bitcoin’s consolidation phase—XRP has pulled back around 13%. It is currently trading at $3.18, according to Cointelegraph Markets Pro and TradingView data. The pullback, coupled with Larsen’s wallet activity, has added to investor caution. Other market analysts, including prominent trader ManLy, echoed the concerns about large holders dumping tokens at the expense of retail investors. Comparisons to Bitcoin Whale Activity XRP’s situation mirrors recent volatility seen in the Bitcoin market. Earlier this month, a Satoshi-era whale liquidated 80,000 dormant BTC, sending BTC/USD sharply lower to around $114,500 before bouncing back. Galaxy Digital reportedly handled that transaction, and the sudden move triggered over $500 million in liquidations across the crypto space, according to CoinGlass data. While Bitcoin quickly recovered, the scale of such transactions highlights the ongoing risks faced by cryptocurrency investors when large holders suddenly move their assets. Cautious Sentiment Prevails For now, analysts are urging caution. XRP’s potential for future growth remains intact, but the looming threat of further sell-side pressure from insiders like Larsen may dampen short-term investor enthusiasm. Many in the XRP community are now watching Larsen’s wallet closely, wary of becoming collateral damage in a larger exit strategy. As Maartunn emphasized, “Protect yourself.”
The Bitcoin price has been quite indecisive in its action over the past week, jumping between the $117,000 and $120,000 consolidation zone in that period. The flagship cryptocurrency, however, came tumbling toward the $115,000 mark following massive coin movements toward centralized exchanges in the past day. Interestingly, a prominent market expert has put forward an even more bearish outlook for the Bitcoin price over the next few weeks. With this latest projection, the price of BTC seems to only be at the beginning of a downward spiral, which could worsen over the coming days. How BTC Price Could Be At Risk Of Extended Decline In a July 25 post on social media platform X, Chartered Market Technician (CMT) Aksel Kibar painted a bearish picture for the Bitcoin price after falling to $115,000 on Friday. According to the analyst, the flagship cryptocurrency could be on its way to around $109,000 in the coming days. Related Reading: This Australian Investment Manager Just Added Bitcoin To Its Treasury, Here’s How Much BTC They’ve Bought Kibar’s bearish stance revolves around the inverse head-and-shoulder pattern on the Bitcoin price chart on the weekly timeframe. The inverse head-and-shoulders pattern is a technical analysis formation characterized by three distinct price troughs, including a lower “head” set between two higher “shoulders.” Typically, the inverse pattern signals a possible bullish breakout and is validated when the price breaches the neckline — a trendline connecting the crests (swing highs) between the head. As shown in the chart below, the Bitcoin price has already broken through the neckline to reach a new all-time high. However, Kibar explained that the price breakout witnessed by Bitcoin might not be the textbook breakout typically expected in most inverse head-and-shoulders pattern scenarios. According to the market expert, most head-and-shoulder breakouts are followed by pullbacks and retests rather than straight rallies. Chart data provided by the analyst shows that, since May 2017, the Bitcoin price has witnessed a retest or pullback (type 2 continuation) more times than a straight rally (type 1 continuation) after a head-and-shoulder pattern breakout. This trend explains the rationale behind Kibar’s bearish projection for BTC in the next few days. If the price of Bitcoin does suffer a deeper correction as in the type 2 continuation, it is likely to return to the neckline — and around the $109,000 mark. A move like this would represent an over 5% decline from the current price point. Bitcoin Price At A Glance After a horrendous start to the day, the market leader seems to be recovering nicely from its recent fall to $115,000. As of this writing, the price of BTC stands at around $117,323, reflecting a mere 0.6% decline in the past 24 hours. Related Reading: Bitcoin Pullback Remains Within Normal Volatility Range: Drawdown Analysis Shows No Signs Of Panic Featured image from iStock, chart from TradingView
Bitcoin (BTC)’s steady climb toward the $160,000 mark has reignited excitement across the crypto space, but savvy investors know that the true power lies in discovering the next breakout altcoin capable of matching or even surpassing that momentum. While Bitcoin (BTC) sets the pace, Mutuum Finance (MUTM) is quietly emerging as a high-potential decentralized finance…
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