As Bitcoin hits record highs, savvy investors are eyeing three major cryptos : XRP, BNB, and Zcash. These tokens show impressive performances with technical catalysts that could trigger further bullish trends. The October 2024 momentum unveils strategic opportunities for those keen on market signals.
Ripple’s native token continues its impressive trajectory with a market capitalization exceeding $172 billion, positioning it as the world’s third-largest cryptos. XRP has surged 443% year-to-date, reaching a seven-year high of $3.65 in July before consolidating around $2.88 currently.
Price action reveals two bullish flag formations on summer charts, signaling technical accumulation before a potential breakout. The Relative Strength Index has stabilized at 46, offering ample room for recovery following the 3.4% intraday correction. This technical zone constitutes an interesting entry point for traders looking to capture the next bullish leg.
Ripple’s launch of the RLUSD stablecoin represents a major catalyst for the ecosystem. This initiative aims to directly compete with USDT and USDC in the institutional payments market, valued at over $180 billion. Ripple’s American banking partnerships further strengthen the project’s credibility with traditional financial institutions.
Analysts place their targets between $5 and $10 in the medium term, contingent on spot XRP ETF approval expected by mid-October. Regulatory validation in the United States could trigger an explosion in institutional demand, similar to what Bitcoin experienced with its own ETFs. The psychological resistance level at $4 must be crossed with volume to confirm the bullish trend.
Binance Coin has just established a new ATH at $1,330.51, consolidating its position among the top five cryptos by market capitalization. The token is currently trading just 0.9% below this record level, having convincingly broken out of a bullish pennant formed in spring.
The deflationary tokenomics of BNB constitutes a major structural advantage. Quarterly burns progressively reduce the circulating supply, creating mechanical upward pressure on the price. The latest burn removed 1.77 million BNB from circulation, representing a value of over $2.3 billion. This strategy demonstrates Binance’s commitment to the long-term value of the token.
BNB’s utility extends well beyond fee discounts on the exchange. The BNB Chain ecosystem now hosts more than 1,400 DeFi and NFT projects, generating billions of dollars in daily volume. BNB holders also access Launchpool launches, enabling them to farm new tokens for free.
The RSI at 79 nevertheless indicates technical overheating in the short term. A consolidation towards the $1,000 zone remains likely by the end of the week, potentially offering an accumulation opportunity before the next impulse. Technical traders are watching this psychological support level which coincides with the former resistance turned support. If the bullish momentum persists, an extension towards $2,000 by December becomes a possibility.
The awakening of privacy-focused cryptocurrencies marks a notable shift in market sentiment. Zcash jumps 58% over seven days, trading near $139 with volume quadrupling. This performance is part of a broader sector movement including Dash and Monero, signaling a renewed interest in technologies preserving financial privacy.
Zcash’s zk-SNARKs technology offers optional privacy through shielded transactions, allowing sender, recipient, and amount to be masked while remaining cryptographically verifiable. This dual-address approach satisfies both users seeking anonymity and those requiring transparency for regulatory compliance.
The RSI indicator at 69 suggests a cautious approach in the short term. The token is entering overbought territory, increasing the probability of a technical correction towards $100 before the next bullish leg. Experienced traders typically use these retracements to strengthen their positions in high-momentum cryptos. A horizontal support level has formed around $115 on the four-hour chart.
Zcash is trading around $139. With growing interest in privacy cryptos and the network upgrade planned for November, ZEC could double, potentially reaching $300 by the end of 2025.
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