As the crypto market braces for the upcoming U.S. Producer Price Index (PPI) report, volatility has surged across digital assets. Analysts are projecting a median monthly PPI increase of 0.3%, with the year-over-year rate expected to hold steady at 2.7%. If realized, these figures could fuel a rally in both equities and cryptocurrencies in the short term.
Adding momentum to market optimism, former President Donald Trump has called on the Federal Reserve to lower interest rates following a softer inflation report. This dovish sentiment has been well-received, propelling the total crypto market capitalization to an impressive $3.38 trillion.
With bullish winds in their favor, investors are scouting for altcoins that could deliver rapid gains post-PPI announcement. Here are three top contenders:
Ripple (XRP): Eyeing the $3 Milestone
Ripple (XRP) has showcased resilience, maintaining its price above $2.50 after a 2.57% daily gain. Despite a significant 37.86% drop in trading volume to $6.31 billion, XRP holds a strong market cap of $150.59 billion, securing the fourth spot in the crypto rankings.
Technical indicators point to a bullish scenario. The Relative Strength Index (RSI) is nearing the overbought threshold, while the Simple Moving Average (SMA) continues to support upward momentum.
If bullish sentiment persists, XRP could soon challenge the $3 mark. Conversely, increased bearish pressure might drag the token back toward its $2 support zone.
Solana (SOL): Momentum Rebuilding Toward $200
Solana (SOL) has rebounded to retest the $180 level, surging 6.38% despite a 30% dip in trading volume. This price recovery signals renewed investor confidence and strengthens the bullish outlook.
The daily SMA aligns with the current uptrend, while the Moving Average Convergence Divergence (MACD) also reflects a positive shift, indicating growing buying interest.
Should SOL maintain support above $177, the path toward the $200 resistance appears increasingly viable. However, if bearish forces regain control, a pullback to the $150 level remains a risk.
Hedera (HBAR): Aiming for $0.26 Amid Strong Technicals
Hedera (HBAR) continues to hold firm above $0.20, boasting a stellar monthly return of over 30%. With a market capitalization of $9.13 billion, HBAR ranks 16th among cryptocurrencies.
Technically, the MACD shows a strengthening bullish trend with a rising green histogram. Additionally, a recent Golden Cross of the 50-day and 200-day Exponential Moving Averages (EMA) reinforces the optimistic forecast.
Sustained bullish momentum could drive HBAR toward the $0.26 target. On the flip side, bearish action might push the token down to retest support at $0.188.
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