The cryptocurrency market seems to be rebounding from the lows earlier this month. Bitcoin (BTC) had briefly fallen to under $50,000 on Aug. 5, 2024, but has since reclaimed the $61,000 level.
The resurgence is likely due to high investor sentiment and dropping inflation figures in the US. While there is no official word from the Federal Reserve, traders and investors anticipate an interest rate by as early as September.
With that said, let’s look at three crypto assets you could watch this week.
Also Read: Top 3 Cryptocurrencies That Could Skyrocket Before 2024 End
Top 3 Cryptocurrencies to Watch This Week
1. Binance Coin (BNB)
Source: Zebpay
Binance’s BNB token is one of the best-performing crypto assets, rising 6.7% in the daily charts, 10.2% in the weekly charts, and 18.8% in the last two weeks.
Source: CoinGecko
CoinCodex analysts predict the cryptocurrency to continue rallying over the next few days, hitting a new all-time high of $728.55 on Sept. 3, 2024.
Source: CoinCodex
Reaching $728.55 from current price levels would translate to a rally of about 27.25%.
Also Read: Cardano: Will ADA Hit $2 Before 2025?
2. Ripple (XRP)
Source – Crypto Adventure
XRP has also displayed splendid growth over the last few days. The popular cryptocurrency has rallied 7.1% in the daily charts, 7.3% in the weekly charts, 19.1% in the 14-day charts, and 1.7% over the previous month.
Source: CoinGecko
XRP’s recent rebound could be due to Ripple’s favourable ruling in its lawsuit with the SEC. The fintech company settled with the financial watchdog, which pushed XRP’s price.
Source: CoinCodex
CoinCodex data suggests the cryptocurrency could breach the $0.80 level later this week.
Also Read: Top 3 Cryptocurrencies To Watch Under $1 Before The Bull Run
3. TRON (TRX)
Source – The Tech Report
TRON is another cryptocurrency that is green across the board. The asset has rallied by 6.7% in the last 24 hours, 14.2% in the weekly charts, 17.5% in the 14-day charts, and 6.8% over the previous month.
Source: CoinGecko
CoinCodex analysts predict TRX will hit $0.1764 later this week.
Source: CoinCodex
Despite the rally, the platform does not anticipate prices to hold, predicting a correction soon after.