According to Coin Market Cap, Bitcoin dominance is currently 66.6%. This hasn’t gone well for altcoins that bleed daily. Some analysts believe that altcoin season is coming to take back a chunk of the market cap from bitcoin. Alt season happens when all other cryptos except bitcoin grow exponentially. It is a season that many crypto traders look forward to. During this alt season, many coins rise by twice their value and may even go as high as a hundred times their value. It looks farfetched but it has happened before and now, analysts believe it will happen again.
When will the altcoin pump start? What is the fate of XRP, and other altcoins who desperately need a pump?
XRP (XRP) Price Today – XRP / USD
XRP Price Prediction 2019: Altcoins are Coming
One crypto trader predicts that the altcoins would pump soon. In a tweet that went viral, the trade, known as Paddy Stash, uses a video to show how things would change for altcoins.
The video has been viewed more than a hundred thousand times and highlights the past 6 years of rising and falling dominance of the altcoins. If the coins follow the same pattern, Stash believes that altcoins are poised for a rise to take back a large chunk of the cryptocurrency market cap from bitcoin.
— Paddy stash (@paddystash) July 13, 2019
it isn’t clear when this would kick in as Bitcoin is holding 66.6% off the entire market cap. Also, this is the highest it has recorded since April 2017.
How Will This Affect Top Altcoins?
Ethereum, the second cryptocurrency by market cap has had a terrible start of the week. The coin was in the red zone on Monday and was falling freely. The coin is presently traded at $225.60 at press time. This figure is a far cry from its all time high of $1,432.88 in January 2018. However, the token seems to be recovering slowly on 16, July 2019.
XRP is also trading at $0.314680 and has seen a growth of 0.57% in the past 24 hours. The coin successfully held its ground at the resistance level and seems to be making a recovery. Recently. Stark payments, popular crypto payment processor in London announced that it supports XRP. Also, Ethereum and Bitcoin are also a part of the supported currencies.
In other news, TRON is also seeing some growth. The token is presently traded at $0.024828 according to Coin Market Cap. It has a total market cap of $1,655,567,755 and a 24 hour volume of $534,512,097. CEO of Tron, Justin Sun says he hopes he can convince Warren Buffet to change his mind about the potential of digital currencies. He was interviewed by Forbes and he spoke about his plans for the impending meeting with Warren Buffet.
XRP may finally cross the psychological $1 level if the alt season starts. The XRP price prediction 2019 is also bullish even though the market isn’t impressive right now. Perhaps, it may be time for altcoins to take some parts of the total market cap of the crypto market.
How high can XRP go? Will Ethereum recover? Market trends would tell.