Today, December 3, several cryptocurrencies have experienced notable price increases, leading many to speculate that the altcoin season may have arrived. According to CoinGecko, all of the trending altcoins have seen upward price movement.
Whether driven by whale activity or a surge in trading volume, these altcoins are dominating today’s crypto discussions. The top three trending altcoins include Ripple (XRP), Sun token (SUN), and Ondo (ONDO).
Ripple (XRP)
XRP’s inclusion as part of the trending altcoins today is because of its performance over the past few weeks. Within the last 30 days, XRP’s price has increased by 431% and has become the third-most-valuable cryptocurrency in terms of market capitalization.
This notable rise could be attributed to rising whale accumulation, several applications for XRP ETFs, and retail interest in the altcoin. As of this writing, XRP’s price trades at $2.67, which is the highest level it has reached since 2018.
From a technical standpoint, the Relative Strength Index (RSI) for XRP has reached 91.47, indicating strong momentum. The RSI helps determine whether an asset is overbought or oversold.
When the RSI reading exceeds 70.00, the asset is considered overbought. Conversely, an RSI below 30.00 suggests it is oversold. Given that XRP’s RSI is above 70, the token is in the overbought territory, suggesting a potential retracement to around $1.79.
On the flip side, if buying pressure continues to climb for XRP, the uptrend might continue, and a rally to $3 could be possible.
Sun Token (SUN)
Sun token, the first meme coin developed
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Author: Victor Olanrewaju
