Top Altcoins to Buy as the Crypto Market Records Bullish Trajectory

The crypto market is on a bullish trajectory today, May 12, after Bitcoin (BTC) broke above $100,000 for the first time in three months.

The crypto market is on a bullish trajectory today, May 12, after Bitcoin (BTC) broke above $105,000 for the first time in three months.

Altcoins are also recording major gains, as most register double-digit percentage gains in the last one week. These gains will likely continue after US President Donald Trump dismissed inflation concerns.

The recent altcoin gains are an extension of a rally that started early last month, with TradingView data showing that the total altcoin market cap has increased from $877 billion on April 9 to $1.2 trillion at press time.

Amid these notable gains, several factors suggest that some altcoins are set for even more explosive rallies in May that will be catalyzed by a bullish technical outlook and macroeconomic factors.

Trump Dismisses Inflation Ahead of US CPI Data

In a recent post on Truth Social, President Trump noted that the prices of most consumer products have dropped significantly, and eliminated the threat of inflation.

“Gasoline, Energy, Groceries, and all other costs, DOWN. NO INFLATION!! ”

Trump’s remarks come ahead of the US April CPI data release on May 13. As Coingape recently reported, experts expect the year-on-year inflation for the month of April to come in between 2.4% and 2.5%.

The CPI data comes barely a week after the Federal Reserve decided to leave interest rates unchanged last week. This decision led to Trump calling out the Fed Chair Jerome Powell, saying that he could not understand his hawkish decision as there was “virtually no inflation.”

Despite Trump’s attempts to divert market fear towards the upcoming CPI print, data from the CME FedWatchTool shows that 92% of investors expect Powell to also leave rates unchanged between the 4.25% and 4.50% range next month.

Nevertheless, if the April CPI data comes in lower than expectations and aligns with Trump’s sentiments about there being no inflation concerns, it could fuel speculation about future rate cuts and drive more gains for altcoins.

Top Altcoins to Buy

The soon-to-be-released US CPI data may bring more gains for three altcoins in May that have already been pumping but have yet to achieve their full potential. These three altcoins that investors should consider to buy include Ripple (XRP), Pi Network (PI), and Pepe Coin (PEPE).

XRP Price Targets $3 Amid Inverse Head and Shoulders

XRP price trades at $2.60 today after a 10% increase in the last 24 hours, making it the top gainer among the ten biggest cryptos by market cap. Ripple targets $3 this week as it completes an inverse head and shoulders pattern on the daily price chart.

The crypto price chart shows that XRP price broke out of the neckline of the bearish pattern and is currently retesting the neckline for support. A breakout will open the door for a 39% rally towards the $3.11 resistance. After clearing this level, XRP will kickstart a rally towards its previous all-time highs.

Pi Network Price Hits March Highs

Pi Network price is one of the best-performing coins to buy today, May 12, as the PI team teases a major announcement this week. At press time, Pi Coin trades at $1.30.

Its recent rally has seen it register seven-day gains of over 100%, and these gains will likely continue after the crypto price cleared the $0.86 resistance. This sparked speculation that PI will hit the $2.83 price target.

The crypto price chart shows that the ADX is increasing, which is a technical factor that supports the continuation of the bullish trend.

PEPE Price Eyes $0.00002 Among Looming Golden Cross

PEPE might also be among the coins that still have to explode in May amid a looming golden cross on the daily chart that is setting the stage for a bullish crossover of the 20-day EMA above the 200-day EMA.

Once the breakout is confirmed, the Pepe Coin price prediction will be bullish as the meme coin aims for the 161.8% Fibonacci level of $0.000024 from the March swing low.

The positive AO bars that are growing longer suggest this uptrend is likely to happen soon.

Summary of Top Altcoins to Buy

The upcoming US CPI data and recent remarks by US President Donald Trump dismissing inflation concerns have sparked a bullish sentiment across the crypto market as traders eye further upside.

Some of the top altcoins to buy that can easily outperform the market and explode in the last three weeks of May include XRP, PI, and PEPE.

Frequently Asked Questions (FAQs)

Which altcoins are yet to explode in May?

Some of the top altcoins that investors should consider buying in