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Overview of the Current Cryptocurrency Market

Amid a bustling Bitcoin market, a bullish XRP prediction and rising interest in KangaMoon contrast with Solana’s disappointing price drop.

With the current Bitcoin rush in the market, a prominent analyst’s recent XRP prediction has made headlines, suggesting that XRP could reach the $10 level. Similarly, another altcoin—KangaMoon (KANG) is gaining significant traction attracting whale’s attention.

In fact, experts are dropping huge projections on KANG, suggesting that it could become the next $1 altcoin of 2024. On the other hand, Solana’s sudden price drop disappoints investors.

Armando Pantoja’s bullish XRP price prediction

After riding a bullish wave, XRP’s price is experiencing a downturn. CoinMarketCap data reports that the price of XRP declined from $0.61 to $0.50 in the past week alone. During the same period, its market capitalization rose by 2% to reach $27.39B. Additionally, XRP’s 24-hour trading volume is witnessing a staggering over 50% outflow, reflecting low trading activities.

Amid all these bearish sentiments, crypto analyst Armando Pantoja is bullish about XRP, suggesting that the coin could trade between the $10-$20 levels soon. XRP technical analysis outlines a bullish trend, with 27 indicators flashing green. The XRP crypto is also trading above its 100—and 200-day EMAs. Thus, experts have made bullish price predictions for XRP, suggesting that the XRP price could reach $0.81 by 2024.

Solana price downtrend influenced by bearish markets

Meanwhile, Solana (SOL) has experienced a significant price drop attributed to the overall bearish market. Over the past 30 days, Solana price witnessed a decline from $181 to $143, a staggering 20% outflow. Similarly, its 24-hour trading volume dropped by 43%, suggesting low trading activity on the network. In any case, the altcoin’s market capitalization rose by 2% to reach approximately $63.83B, according to CoinMarketCap.

The sudden drop has disappointed investors who had hoped the price of Solana would rise ahead of the BTC halving event. The sudden Solana price drop has resulted in the liquidation of $36.55m worth of traders’ long positions. Despite this, traders remain optimistic, considering the current price drop as a good opportunity to buy the dip.

KangaMoon shows strong presale activities

KangaMoon has been making headlines, with its 5th presale stage having accumulated over $5m. Being a unique altcoin, KangaMoon intends to become a top altcoin in 2024 by breaking the $1 price mark once listed among the tier-1 crypto exchange platforms. KangaMoon is currently on track to hit $7 million by the end of April.

Unlike most memecoins, KangaMoon has managed to stand out as it offers actual utility. With KangaMoon tokens, players can easily upgrade their gaming characters and purchase in-game assets in the upcoming KangaMoon play-to-ear game. The platform also intends to provide the KANG holders with different weekly, monthly, and even quarterly challenges so as to obtain more tokens.

Additionally, the platform’s unique approach, which is community-driven, is quite outstanding. With such an approach, KangaMoon will allow its most active users to acquire free KANGs even before its launch. With more than 20,000 registered members, KangaMoon aims to ensure a high social media presence, as members will be rewarded for posting and sharing KangaMoon’s social media content.

KangaMoon currently has a price tag of just $0.196, which is an impressive surge from the previous price of just $0.005. However, its link to the P2E gaming market, which is projected to reach $885 million by 2028, gives it a better chance of rising by up to 50x.

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Conclusion

While the likes of XRP and Solana might have a better advantage over KangaMoon, this altcoin still has what it takes to be listed among the top altcoins of 2024. Investors should, therefore, consider taking advantage and invest, given that early investors are already enjoying a 290% ROI.

To learn more about Kangamoon, visit the website or join the Telegram community.