Top 3 Altcoins Among XRP To Buy In ‘Uptober’: Santiment

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As a seasoned crypto investor with a knack for spotting trends and a flair for taking calculated risks, I find the latest analysis by Santiment intriguing. The three altcoins they’ve highlighted – XRP, APT, and LINK – certainly pique my interest.

In the wider market downturn, alternative cryptocurrencies like Ethereum (ETH) and leading alternatives have experienced a steeper drop, dipping by 10-15% over the last week. Yet, Santiment’s analysis indicates that three altcoins – XRP, APT, and LINK – could potentially surge in the near future due to their underlying foundations and growing institutional attention.

Three Altcoins to Watch For A Rally Ahead

Santiment discusses Ripple‘s native cryptocurrency, XRP, as the first altcoin mentioned. The public opinion about XRP has seen a significant rise due to key events like Bitwise submitting an application for a spot XRP ETF this week. However, in contrast, the U.S. Securities and Exchange Commission (SEC) has opted to challenge the court verdict on the XRP lawsuit at the Second Circuit court.

The news of the appeal has already sent the XRP price crashing down by 15% on Thursday, moving all the way to $0.52. However, amid the calls of the ‘Uptober’ rally, the Ripple native crypto could gain strong attention from traders taking it further beyond $0.60.

According to Santiment, the second significant cryptocurrency they mentioned is Aptos. Just a day ago, Aptos Labs took a bold step to grow in Japan’s Web 3 market by acquiring HashPalette. By integrating the Palette blockchain, which has gained widespread adoption in Japan for its broad usage, Aptos aims to bridge traditional technology with the rapidly expanding Web3 sector.

Conversely, the U.S. Government Money Fund is planning to utilize the Aptos blockchain, as indicated in the recent CoinGape report. This same report suggests that the price of APT could surge up to $20 due to increasing network activity.

The third altcoin that Santiment is bullish on is Chainlink (LINK). The oracle service provider recently collaborated with the SWFIT platform to establish interoperability with TradFi. Furthermore, Santiment reported that successful trials have demonstrated that Chainlink’s Cross-Chain Interoperability Protocol (CCIP) effectively connects multiple blockchain networks for financial institutions.

What About ‘Uptober’ Rally Sentiment for XPR and Others?

October has begun just as many had expected with the so-called ‘Uptober’ surge. However, according to analytics firm Santiment, discussions about “Uptober” have noticeably decreased, suggesting that traders are becoming less optimistic and more bearish about October being an automatic rally period for cryptocurrencies. This increasing gloominess, however, could potentially set the stage for a short-term market rebound, as noted by Santiment.

Looking forward, Bitcoin must demonstrate resilience to boost market confidence and sentiment. Yesterday, the BTC price recovered somewhat following support at $60,500. To avoid a potential drop towards $52,000, bulls need to hold this level steady.

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2024-10-04 10:37