Three Altcoins to Watch as the Cryptocurrency Market Shows a Positive Trend

May brought interesting shifts in the cryptocurrency market, with several altcoins showing promising potential for gains. As the US president downplayed inflation concerns ahead of the crucial Consumer Price Index (CPI) data release, and Bitcoin struggled to maintain momentum above the Rp1.74 billion level, three altcoins caught the attention of investors.

1. Ripple (XRP): Toward Target Price of IDR49,560

Ripple (XRP) has experienced a 10% price increase in the last 24 hours, reaching Rp42,984 (US$2.60). The formation of an “inverse head and shoulders” chart pattern suggests a possible continuation of the uptrend towards IDR49,560 (US$3). If XRP manages to break through this level, it could aim for its previous high.

This rise is also linked to Ripple’s US$100 billion increase in market capitalization since winning the lawsuit with the SEC. This suggests growing confidence from investors in XRP’s long-term prospects.

2. Pi Network (PI): Significant Rise and Market Speculation

Pi Network (PI) has recorded a price increase of more than 100% in the last seven days, reaching IDR 21,476 (US$1.30). This surge is attributed to market speculation regarding a major announcement from PI’s development team, which could push the price towards the next resistance level at IDR29,611 (US$1.79).

If PI breaks through this level, it has the potential to reach IDR46,725 (US$2.83), aiming for the 161.8% Fibonacci level. Technical indicators such as the Average Directional Index (ADX) show a strong uptrend, supporting a bullish outlook for PI in the near term.

3. Pepe Coin (PEPE): Upside Potential Amid Golden Cross Pattern

Pepe Coin (PEPE) presents potential for a price increase as it forms a “golden cross” pattern on the daily chart. This pattern occurs when the 20-day moving average crosses above the 200-day moving average. If confirmed, PEPE could rise towards the 161.8% Fibonacci level at IDR396 (US$0.000024).

The Awesome Oscillator (AO) indicator showing increasingly long positive bars supports this possible uptrend. However, if PEPE fails to sustain gains above the golden cross, it could face a decline towards the support level at IDR200 (US$0.000012).

These three altcoins—Ripple (XRP), Pi Network (PI), and Pepe Coin (PEPE)—are displaying significant growth potential amid positive market sentiment and President Trump’s statement downplaying inflation concerns. As investors focus on the upcoming CPI data, which is expected to show a slight decrease in the May inflation rate, there is potential for further gains in the cryptocurrency market.

However, investors are advised to conduct their own in-depth analysis and consider any risk factors before making investment decisions in these altcoins.