It is about time that altcoins stole the show from Bitcoin and took some shining within the crypto market. Among all coins, XRP is the token to look out for right now. The on-chain data for this cryptocurrency suggests that a massive bullish run might be in order. Although the statement that altcoin might be able to outpace Bitcoin is a bit overzealous, it is possible that with eventual bullish runs and outstanding performance in terms of increasing in value, these altcoins could do some serious damage to Bitcoin.
A pseudonymous analyst by the name of Credible Crypto has shared with his Twitter followers that the current price structure of XRP is ridiculously very similar to OriginTrail, which is a data-sharing protocol. The token introduced by this company, TRAC, has just made a 300% rise in terms of price and value, and given the same data patterns, the same could be true for XRP. If this thing goes through and XRP manages to pull off the said bullish run, then it is possible that the crypto will be able to take back its previous all-time high of 3.40 dollars.
Bitcoin’s Dominance in Crypto Market
When asked about Ether and how it would do, the trader said that Ether might be in a position to start a new alt season, but Bitcoin is holding its fort right now above $60K could outweigh that possibility. A clear and close analysis of the Bitcoin performance within the crypto market shows that the dominance of the flagship cryptocurrency has been dropping not significantly but eventually, and it doesn’t mean that the price of crypto will also decrease.
The only thing that this manages to confirm is that if the dominance of Bitcoin is decreasing, then it is a possibility that the price of altcoins would increase. One way or another, the whole game is still centred on Bitcoin and the waves it will be making in the future would determine the fate of these altcoins.