3 cryptocurrencies other than Bitcoin to consider buying this July

June was a positive month for the cryptocurrency market. This was especially prevalent in the case of Bitcoin which reached a new yearly high. Bitcoin’s momentum is majorly fueled by the renewed positive sentiment around BlackRock and multiple asset managers filing for Bitcoin ETFs in the United States. 

Now in July, the crypto market looks set to start the second half of 2023 on a bullish note amid this renewed institutional investors’ interest despite the FUD surrounding the SEC’s recent lawsuits. 

July has the potential to be a very important month for the altcoin market and this makes it an exciting time for traders and investors to closely monitor the market movements and take advantage of potential opportunities. 

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July has always been a historically bullish month for the digital asset space and there are indications that Bitcoin will finally break above the $36,000 level in the new month. 

As the expectations for the Bitcoin ETFs approval will bring more United States institutions and retail into the space, Technext looks at three cryptos apart from Bitcoin that are set for a rally in July.

XRP

The native token of the Ripple ecosystem, XRP has been facing a lot of upheavals recently due to the unending lawsuits leveled by the United States SEC on Ripple. 

However, recent data from Santiment has revealed a surge in on-chain activity for XRP and spikes in transaction volume like that have historically served as indicators of an impending price rally for this altcoin. According to Santiment, this pattern has been observed on three separate occasions recently, which gives credibility to the potential emergence of a rally in the price of XRP:

“XRP is showing a slight bullish sign due to mild trader capitulation. Historically, coins moving at a greater ratio at a loss compared to profit have a higher likelihood of rising in value.”

Also, active XRP addresses have surged recently, indicating an imminent price breakout for the token. The first few weeks of July seem like a good time to buy.

Shiba Inu

There are several reasons why Shiba Inu could be a good buy in July. Its ecosystem has been steadily growing and advancing. This is recently demonstrated by its lead developer Shytoshi Kusama announcing that “something lovely is coming” for Shiboshis, the exclusive SHIB-generated non-fungible tokens (NFTs).

Also, SHIB is one of the 30 prominent cryptos, next to XRP, Cardano (ADA), Stellar (XLM), Polygon (MATIC), and others, announced by the Hong Kong Virtual Asset Consortium (HKVAC) to be listed on its newly-launched, highly anticipated digital asset index. This has led to an increase in interest in the SHIB community and this has been reflected in the short-term increase recorded already.

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With this continuous development of its ecosystem, multiple updates, SHIB burn rate, and its growing community that believes in the long-term potential of both the project and its cryptocurrency, July promises to be a profitable month for the memecoin.

Ethereum 

Ethereum is the biggest altcoin based on its market cap and it has a huge catalyst that might propel a surge in the month of July. The ETH Barcelona conference will be held between 5 and 7 July, and the hackathon will be held on July 7-9. 

The coming conference is considered the largest in Europe and will explore how blockchain technology can build a sustainable world full of human potential.

The Ethereum ecosystem token, Ether, is already experiencing a price surge in anticipation of this event and analysts have projected its price to break out from the $2,000 resistance area and move to $2,500 in July.

This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.