Cryptocurrency Forecast 2024: Spotlight on Bitcoin, Solana, and XRP

Cryptocurrency Forecast 2024: Spotlight on Bitcoin, Solana, and XRP

Despite a negative start to the new year for cryptocurrencies, numerous crypto assets are generating optimism for 2024. Crypto traders and investors are actively researching potential investments for January. Reflecting on the final weeks of 2023, developments signaling strong buying pressure are closely tied to cryptocurrencies that may stand out, with three of them particularly catching attention.

Bitcoin (BTC) Price Expectations

In the upcoming days, there is high anticipation that the United States Securities and Exchange Commission (SEC) may approve the first spot Bitcoin exchange-traded fund (ETF). Some applying companies have initiated advertising efforts, with even JPMorgan becoming associated with the matter. In January, investors hold high expectations for Bitcoin (BTC). Notably, crypto expert Ali Martinez predicts that 2024 could mark the beginning of a three-year rising trend for Bitcoin.

As of January 1st, data from milyon.com indicates that the price of Bitcoin is trading at $42,679, reflecting a 0.38% increase over the last 24 hours. Over the past seven days, it has seen a 0.61% rise, and a broader monthly review reveals a 10.3% increase in BTC’s value.

Current Status of Solana (SOL)

SOL, which caused a stir in the past year with its network activities and meme coins, witnessed a remarkable 500% increase in just a two-month period, as highlighted by crypto analyst Michaël van de Poppe on December 28. Although the rise seems to have halted for now, Solana could still maintain its strong stance in the coming weeks.

As of the latest update, Solana is trading at $104.03, indicating a 0.16% decrease within the day. SOL experienced a 5.43% drop over the last seven days but recorded a noticeable gain of 72% in a monthly review.

Analyst Commentary on XRP (XRP)

Lastly, XRP (XRP), engaged in a tight race with Cardano (ADA) to reach the $1 price level, might experience a price movement that surpasses this level and potentially advances to $3.7, according to an analysis featuring the Super Guppy indicator by EGRAG CRYPTO. As of the latest data, XRP has found buyers at $0.623, reflecting a 0.47% gain in the last 24 hours, continuing the 0.94% gain from the previous week, and maintaining a stable image over the last month with only a 1.95% increase.

The TRB Coin incidents that occurred early today are indicative of the significant volatility and uncertainty in cryptocurrencies. It’s important for investors to note that the mentioned cryptocurrencies are just a few expected to rise in January, and many altcoins experienced substantial increases last year.