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Most of the cryptocurrency market has gone through a slight correction in the past few hours, but Ripple’s native token has defied the overall sentiment. XRP has blasted through its recent yearly high and has tapped an 16-month peak of roughly $0.8. Bitcoin stood well above $92,000 earlier today but has lost over four grand since then and now struggles below $88,000. Ethereum is down from its daily peak as well, dropping below $3,100. Even the high-flying meme coins have struggled in the past few hours, with DOGE going from $0.4 to under $0.38, PEPE slipping to $0.0000215, and so on. In contrast, XRP has soared by 16% on a daily scale. As a result, the seventh-largest digital asset tapped $0.8 for the first time since July 2023.CryptoPotato laid out a few reasons of how XRP could overcome its 2024 high of $0.74 earlier today and it has taken the token just a few hours to do so. However, the most probable reason seems to be related to the current SEC Chair, Gary Gensler. Reports emerged on X that he had sent an open letter, which suggests that he might be stepping down from his current role as soon as tomorrow. There were rumors about him resigning circling around ever since Donald Trump won the US presidential elections last week. After all, the Republican promised to fire Gensler on his first day in office. Such a potential development could indeed be the primary source of XRP’s sudden surge. Ripple has been engaged in a legal battle against the SEC for nearly four years – or essentially since Gensler took charge. Him stepping down could be quite beneficial for Ripple and other crypto companies that the SEC went after under his tenure, especially if his replacement is someone with a more favorable approach to the industry. $XRP

Most of the cryptocurrency market has gone through a slight correction in the past few hours, but Ripple’s native token has defied the overall sentiment. XRP has blasted through its recent yearly high and has tapped an 16-month peak of roughly $0.8. Bitcoin stood well above $92,000 earlier today but has lost over four grand since then and now struggles below $88,000. Ethereum is down from its daily peak as well, dropping below $3,100. Even the high-flying meme coins have struggled in the past few hours, with DOGE going from $0.4 to under $0.38, PEPE slipping to $0.0000215, and so on. In contrast, XRP has soared by 16% on a daily scale. As a result, the seventh-largest digital asset tapped $0.8 for the first time since July 2023.CryptoPotato laid out a few reasons of how XRP could overcome its 2024 high of $0.74 earlier today and it has taken the token just a few hours to do so. However, the most probable reason seems to be related to the current SEC Chair, Gary Gensler. Reports emerged on X that he had sent an open letter, which suggests that he might be stepping down from his current role as soon as tomorrow. There were rumors about him resigning circling around ever since Donald Trump won the US presidential elections last week. After all, the Republican promised to fire Gensler on his first day in office. Such a potential development could indeed be the primary source of XRP’s sudden surge. Ripple has been engaged in a legal battle against the SEC for nearly four years – or essentially since Gensler took charge. Him stepping down could be quite beneficial for Ripple and other crypto companies that the SEC went after under his tenure, especially if his replacement is someone with a more favorable approach to the industry. $XRP

Most of the cryptocurrency market has gone through a slight correction in the past few hours, but Ripple’s native token has defied the overall sentiment. XRP has blasted through its recent yearly high and has tapped an 16-month peak of roughly $0.8. Bitcoin stood well above $92,000 earlier today but has lost over four grand since then and now struggles below $88,000. Ethereum is down from its daily peak as well, dropping below $3,100. Even the high-flying meme coins have struggled in the past few hours, with DOGE going from $0.4 to under $0.38, PEPE slipping to $0.0000215, and so on. In contrast, XRP has soared by 16% on a daily scale. As a result, the seventh-largest digital asset tapped $0.8 for the first time since July 2023.CryptoPotato laid out a few reasons of how XRP could overcome its 2024 high of $0.74 earlier today and it has taken the token just a few hours to do so. However, the most probable reason seems to be related to the current SEC Chair, Gary Gensler. Reports emerged on X that he had sent an open letter, which suggests that he might be stepping down from his current role as soon as tomorrow. There were rumors about him resigning circling around ever since Donald Trump won the US presidential elections last week. After all, the Republican promised to fire Gensler on his first day in office. Such a potential development could indeed be the primary source of XRP’s sudden surge. Ripple has been engaged in a legal battle against the SEC for nearly four years – or essentially since Gensler took charge. Him stepping down could be quite beneficial for Ripple and other crypto companies that the SEC went after under his tenure, especially if his replacement is someone with a more favorable approach to the industry. $XRP

Over 90% of ETH holders are in profit, but doubts linger over $4K breakout Cryptos | 11/29/2024 06:58:00 GMT More than 90% of Ether holders are now in profit as the cryptocurrency rose 5.7% over the last seven days, but traders are seemingly uncertain about whether ETH can break back above the critical $4,000 level, with traders mounting up on short bets. Short bets against $4,000 keep piling up CoinGlass data shows much as $1.43 billion of short positions could be liquidated if Ether reaches $4,000. It comes as recent data from IntoTheBlock shows that “90.8% of ETH holders are now in profit, the highest since June.” “Interestingly, the 9.2% of holders still at a loss hold just 2.8% of the total supply,” the data revealed, suggesting that “potential sell pressure from this group may have a limited impact.” The last time Ether crossed the $4,000 price level was March 12, when Bitcoin BTC $96,170 reached its previous high of $73,679, according to CoinMarketCap data. Chart Ether is trading at $3,582 at the time of publication. Source: CoinMarketCap Since then, Ether has been stuck in a narrow range, trading between $2,223 and $4,066, even after the spot Ether ETF launched on July 23. Ether traders were anticipating the launch would lead to similar price action that Bitcoin saw after the spot Bitcoin ETFs launched in January. Funding rates suggest Ether has more upside ahead Several traders are optimistic that Ether is still on track to return to its yearly high levels. In a Nov. 28 market report, CryptoQuant contributor ShayanBTC pointed out that Ether funding rates have seen a “significant uptick” in recent weeks. However, funding rates are still below the levels seen when Ethereum hit its all-time high of $4,900, they said, indicating that Ether hasn’t yet “entered an overheated state.” At the time of publication, Ether’s funding rate on the crypto exchange Binance is 0.0162%. Pseudonymous crypto trader Ash Crypto said that Ether is “very close” to reaching $4,000 to their 1.3 million X followers on Nov. 28. Pseudonymous crypto trader Borovik is even more optimistic, saying in a Nov. 23 X post that “If Ethereum hits $15,000 this cycle, I’ll get my first ever tattoo. The ETH logo.” Crypto analyst Lark Davis has been emphasizing the $15,000 price target for Ether to his 1.2 million X followers since July.

For many individuals, this might be their very first experience with an altcoin season. It's an exciting period that often sparks dreams of transforming small investments into massive wealth, with hopes of returns multiplying by 100x or even 1000x. However, this phase is not just a golden opportunity; it’s also a challenging test of discipline, patience, and emotional control. What Should You Expect During Altcoin Season? 1. Constant Portfolio Monitoring The thrill of watching your portfolio’s value rise can become an obsession. You may find yourself checking your wallet multiple times a day, eager to see how much your holdings have grown. 2. Grandiose Daydreams You might start fantasizing about the massive fortune awaiting you if one of your altcoins skyrockets to unprecedented levels. These dreams can often cloud judgment and lead to impulsive decisions. 3. The Urge to Show Off The temptation to boast about your achievements to friends or family—especially those who aren't invested in cryptocurrencies—will be hard to resist. Sharing success stories often feels rewarding but can also lead to unnecessary comparisons or even poor advice. 4. Emotional Investment Decisions Sharp pullbacks or dramatic price surges will test your resolve. Each price drop of 10% or 20% may instill panic, while every new all-time high could tempt you to put even more money into the market without much thought. 5. Breaking Your Own Rules The further you get into the altcoin season, the more reckless decisions you might consider. You may ignore your risk management strategies or allocate larger-than-planned sums to projects that are increasingly speculative. 6. Chasing Low-Quality Projects As the market heats up, it’s easy to get lured into investing in projects that lack solid fundamentals, simply because they appear to be the next big thing. This can lead to significant losses. What Does It Take to Succeed? Altcoin season is as much about controlling your emotions as it is about making smart financial decisions. To thrive, you must be prepared for both the highs and the lows. Success requires the ability to handle significant drops of 30%, 50%, or even 80%, as well as impressive gains of 200%, 400%, or even 600%, without losing your composure. How to Navigate Altcoin Season Wisely 1. Create a Clear Plan Start by defining your goals. Know exactly when you’ll take profits or exit your investments. Decide in advance at what price point you’ll sell specific coins, regardless of market hype. 2. Set Realistic Expectations Avoid chasing unrealistic returns. While some coins might achieve staggering growth, don’t base your strategy on hopes of making "millions of percent." Focus on achievable targets that align with your financial capacity and risk tolerance. 3. Accumulate During Lows Take advantage of price dips to build your positions. Use tools like the Relative Strength Index (RSI) to identify market conditions. When RSI values are below 30, it often signals oversold conditions—a good opportunity to buy. Conversely, an RSI above 85 might indicate an overheated market, suggesting caution. 4. Recognize the Cycle’s End Understand when the altcoin season might be nearing its conclusion. Common signs include: Increased media attention on altcoins, with headlines dominating the news. The emergence of double-top patterns on higher timeframes, coupled with declining trading volumes. The monthly RSI remaining above 85 for an extended period. Stay Grounded and Disciplined The key to success lies in maintaining humility and a level-headed approach. Stick to your plan, respect your goals, and avoid making impulsive decisions driven by greed or fear. Altcoin season presents remarkable opportunities, but only those who stay calm, focused, and strategic will reap the rewards. By following these principles, you can navigate the excitement of altcoin season while minimizing risks and maximizing potential gains.