Bitcoin Dominance Wanes, Altcoins Rise: XRP Takes the Spotlight

Explore the impact of Bitcoin dominance dropping to 56.1%, signaling the start of altseason. Discover why altcoins like XRP and Ether are rallying, with XRP projected to hit $2.57 and Ether poised for a $4,000 surge by early 2025. Analyze key drivers, Bitcoin halving effects, ETF potentials, and market trends shaping the crypto landscape.

Bitcoin dominance, a critical indicator in the cryptocurrency market, has recently shown significant signs for altcoin investors. Its decline signals the beginning of altseason, creating opportunities for altcoins like XRP and Ether to rally as 2024 comes to a close and 2025 begins.

This article explores Bitcoin dominance, the concept of altseason, and the potential for altcoins to attract investor interest.

What is Bitcoin Dominance and Altseason?

Bitcoin dominance measures the percentage of Bitcoin's market capitalization compared to the total cryptocurrency market. A drop in Bitcoin dominance often signals the start of an altseason, a period where altcoins outperform Bitcoin.

Bitcoin dominance has fallen to 56.60%, breaching its two-year support line. This shift suggests that the market has officially entered altseason, where smaller cryptocurrencies gain traction and value.

The decline in Bitcoin dominance typically occurs as investors take profits from their Bitcoin positions and reallocate funds to altcoins with higher growth potential. This flow of capital from Bitcoin to other assets provides increased liquidity and demand, propelling altcoins to new highs.

BTC Price Today

As of this writing on December 2, 2024,  BTC price has decreased by 0.5% to trade at $95,990 with its highest price being $98,130 in the last 24 hours. the prediction of Bitcoin price reaching $100,000 could be achieved before 2025.

However, when Bitcoin dominance continues to decline and is replaced by Altseason, the dream of BTC price of $100K will have to wait longer.

Should you buy Bitcoin now when dominance and price are decreasing? You can do more research on whether Bitcoin will really experience a correction and the prediction of Altcoin Season will really come. Check the Bitcoin price and convert the BTC price to USD so you can find out your budget in more detail.

XRP: A Top Contender in Altseason

While BTC experienced a price drop, XRP price experienced a significant increase of up to 30%. Currently, XRP is trading at $ 2.4374 with an RSI value reaching more than 86 and is considered to be at the overbought point. The MACD line has increased drastically and shows signs of bullishness coming soon.

Among the altcoins expected to benefit from this trend, XRP stands out. As the world’s sixth-largest cryptocurrency, XRP is projected to see significant gains throughout the season. Ryan Lee, Chief Analyst at Bitget Research, predicts that XRP could reach $2.57 by December 2024. 

Key Drivers for XRP’s Price Surge

1. Bitcoin Halving Effect: Historically, XRP has shown significant growth approximately 228 days after a Bitcoin halving event. With the most recent halving in 2024, XRP is positioned for a strong rally as the year ends.

2. Potential XRP ETF Approval: The filing for an XRP ETF by asset manager 21Shares with the U.S. Securities and Exchange Commission (SEC) could act as a major price catalyst. If approved, this ETF would enhance institutional trust and adoption of XRP.

3. Regulatory Changes: The anticipated departure of SEC Chair Gary Gensler in January 2025 is expected to bring more crypto-friendly regulations, potentially boosting XRP and other cryptocurrencies.

Ethereum: Another Rising Star

Ethereum (ETH), another major altcoin, is also drawing significant attention. Following Donald Trump’s victory in the 2024 U.S. presidential election, demand for leveraged Ethereum exchange-traded funds (ETFs) surged by over 160%. Analysts expect Ether to surpass $4,000 ahead of Trump’s inauguration in January 2025.

The increased interest in Ether ETFs signals strong institutional confidence in its long-term potential. Market optimism surrounding Trump’s inauguration and potential policy shifts could bolster investor risk appetite, benefiting Ether and other altcoins.

Currently, price of ETH is $3,658 with a decrease of 1.28%. Reaching the price of $4,000 does look quite difficult because the price of ETH often follows the price of BTC. However, the RSI value and MACD line are still above average, ETH's optimism towards the resistance price remains high.

Key Milestones in January 2025

The first month of 2025 is expected to be pivotal for the cryptocurrency market due to several significant events:

1. Trump’s Presidential Inauguration: Likely to boost market confidence and risk-on sentiment.

2. SEC Chair Gensler’s Resignation: This could accelerate the approval of crypto-based ETFs and foster a more favorable regulatory environment.

3. Post-Bitcoin Halving Effects: Historically, Bitcoin halvings have a delayed impact, creating ripple effects for altcoins like XRP and Ether.

Conclusion

The decline in Bitcoin dominance marks the beginning of altseason, offering substantial growth potential for altcoins like XRP and Ether. With XRP expected to reach $2.57 by December 2024 and Ether potentially crossing $4,000 by early 2025, the coming months could be highly rewarding for cryptocurrency investors.

However, as with any investment, the cryptocurrency market remains highly volatile. Investors should conduct thorough research and implement risk management strategies to navigate the complexities of this evolving space.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

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Meow and Woof Your Way to Global Fame: Nyandol Wandol Produced by 8-P and PETNAVI, Shibuya’s Pet-Centric Radio Show

Nyandol Wandol, a popular Japanese radio show from Shibuya, celebrates pets with idol contests, heartwarming stories, and special events like Dogs' Day and Halloween. It's expanding globally, inviting everyone to share the joy of pet ownership.

The glass-enclosed satellite studio is the setting for live broadcasts. On show days, the studio draws a crowd of pet owners, attracting curious glances from foreign tourists.

Nyandol Wandol Official Instagram: https://www.instagram.com/nyandolwandol/

Shibuya's Furry Idols: Nyandol Wandol

Nyandol Wandol is a popular radio program broadcasting from the vibrant district of Shibuya. The show offers a diverse range of content, including pet-related news, product reviews, and listener-submitted segments. Unique to the show is the opportunity for listeners to submit their pets to become either Nyandol, a cat idol (nyan-nyan is the Japanese onomatopoeia for a cat’s meow), or Wandol, a dog idol (wan-wan is the Japanese onomatopoeia for a dog’s bark). As we expand our global reach, we invite audiences worldwide to join us on this exciting journey.

A Paw-sitive Day for Dogs at Shibuya Cross-FM

Did you know November 1st is Dogs’ Day in Japan? Inspired by the sound “Wan Wan Wan” (the Japanese onomatopoeia for a dog’s bark), the Japan Pet Food Association designated this day to raise awareness and appreciation for dogs. To celebrate, owners visited Shibuya Cross-FM to share heartwarming stories about their beloved pets. They expressed gratitude for their companions, highlighting the joy and companionship they bring to their lives. One owner shared how their dog had helped them form strong friendships, underscoring the positive impact pets can have on our social lives.

Paw-some Halloween Costumes: A Nyandol Wandol Spook-tacular

Next, the Nyandol Wandol Halloween video featured a variety of creative and adorable pet costumes. Every participant was a standout, making the atmosphere lively and festive. The high level of creativity and effort displayed by all participants made them all deserving winners of the first-place honor in the fashion competition.

Capturing Cherished Moments with my Wandol: A Touching Story

Another owner, who had recently lost a beloved pet, participated in the event. Regretting not having taken more photos with her lost companion, she took the opportunity to capture numerous cherished moments with her remaining pet in the studio. Their participation brought a sense of joy and warmth to the atmosphere.

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About 8-P Inc

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JSIP Establishes Japan Entity in Okinawa – Advancing as a Social Infrastructure of Innovation, connecting Japan and Southeast Asia

Japan Southeast Asia Innovation Platform (JSIP), a membership-based community accelerating new business development in Southeast Asia, has officially established its Japanese entity, JSIP Co., Ltd., in Okinawa as of November 15, 2024 (Representative Director: Shinsuke Inoue). With this move, JSIP now operates both a Singapore and a Japan-based entity, aiming to further strengthen its activities and enhance its platform.

■ Background and Significance of the Japan Entity

Founded in Singapore in 2021, JSIP has grown over the past three years into one of the largest Japan-origin open innovation communities in Southeast Asia. Its network includes over 30 evangelists, approximately 30 consortium member companies, and more than 30 local ecosystem partners, such as VCs, government agencies, and university incubators.

JSIP has expanded its footprint to Jakarta, Bangkok, and Tokyo, hosting over 30 networking events annually centered around the JSIP Lounge. Through diverse programs such as the Southeast Asia Market Entry Support Project (Acceleration Program) and Reverse Pitch initiatives, JSIP has played a pivotal role as a social infrastructure linking innovation ecosystems between Japan and Southeast Asia.

As demand and participation from both Japan and Southeast Asia continue to grow, the establishment of the Japan entity marks a significant milestone in JSIP’s efforts to provide broader and higher-quality support.

■ Why Okinawa? The Spirit of “Bankoku Shinryo” and JSIP’s Vision

The decision to establish the Japan entity in Okinawa is rooted in the historical concept of “Bankoku Shinryo”, a term symbolizing Okinawa’s role as a bridge connecting nations during the Ryukyu Kingdom era.

Okinawa has historically served as a hub linking Asia and Japan, reflecting JSIP’s mission to act as a bridge between Japan and Southeast Asia. This alignment of historical significance and vision led to the decision to base the Japan entity in Okinawa.

■ Vision for the Future – A Platform to Accelerate New Business in Southeast Asia

JSIP will continue to evolve with the following key pillars:

– Further expansion of local networks in Southeast Asia

– Regular networking events in Japan

– Enhanced support for regional Japanese startups entering Southeast Asia

– Promotion of bi-directional ecosystem activation

■ Message to Companies, Municipalities, and Startups Seeking Collaboration

We invite corporations looking to accelerate co-creation with Southeast Asian startups, municipalities aiming to enhance support for regional expansion, and startups seeking new opportunities, to join the JSIP platform.

Additionally, we warmly welcome participation from local VCs and startups considering entry into the Japanese market. Together, through JSIP, we aim to further energize innovation exchanges between Japan and Southeast Asia.

This Press Release has also been published on VRITIMES