The cryptocurrency market is heading full steam ahead, with Bitcoin (BTC) reclaiming the $63,000 level. The global crypto market cap has also risen to $2.33 trillion.
The market resurgence could be due to the Federal Reserve cutting interest rates by 50 basis points, marking the first interest rate cut in the last four years. Rate cuts often lead to investors taking on more risks with their money.
Let’s discuss three crypto assets that you could watch this week.
Also Read: US Stock: Trending Share To Buy In September Per Market Experts
Top 3 Cryptocurrencies To Watch This Week
1. Solana (SOL)
Source – CoinCentral
SOL has displayed quite a performance over the last few days. The asset is up by 11.8% in the weekly charts and nearly 15% in the 14-day charts. The cryptocurrency is still down by 5% over the previous month but has rallied by 653% since September 2023.
Source: CoinGecko
CoinCodex analysts anticipate SOL to consolidate at around current levels this week before entering a rally in October.
Source: CoinCodex
2. Ripple’s XRP
Source – Coinpedia
Ripple’s XRP token has also witnessed a healthy turnaround over the last few days. The cryptocurrency is up 2.9% in the weekly charts and 11.9% in the 14-day charts. Despite the rally, XRP continues to glow red in the daily and monthly charts, falling 0.6% and 3.5%, respectively.
Also Read: XRP to Skyrocket? MicroStrategy Chairman Predicts Bitcoin at $13M!
Source: CoinGecko
CoinCodex data suggests XRP will rise to $0.80 on Sept. 27, 2024. The platform does not anticipate the cryptocurrency to hold above $0.80, predicting a correction soon after.
Source: CoinCodex
3. Avalanche (AVAX)
Source: Securehindi
AVAX has also displayed robust growth over the last few days. The cryptocurrency is green across the board, rallying 1% in the daily charts, 16.3% in the weekly charts, 17.9% in the 14-day charts, and 4.8% over the previous month. The asset is also up by 210.3% since September 2023.
Source: CoinGecko
CoinCodex analysts predict AVAX to rise to $34.66 on Sept. 25, 2024, before facing a correction to around current levels.
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Source: CoinCodex