TL;DR
- BTC dropped early in October but recently surged to over $66,000, with analysts predicting further gains.
- XRP saw a 3% weekly rise, with potential for more bullish momentum.
- Meme coins like TURBO skyrocketed in the past 24 hours, while DOGE and SHIB posted smaller gains.
BTC on the Run
Bitcoin (BTC) did not start the month as many had previously expected. It dropped to around $60,000 on October 3, recovered some losses in the following days, but took another turn south to as low as $59,000 on October 10. Since then, though, it launched a substantial rally, reaching over $66,000 several hours ago.
Some factors fueling the resurgence could be Donald Trump’s improved expectations of becoming America’s next President, the rising demand from investors, and Metaplanet’s decision to purchase more BTC.
The latest pump caused some industry participants to believe that “Uptober” has finally come. According to X user Jelle, BTC is looking “to turn the previous highs into support,” envisioning a move toward $70,000 soon. Yoddha was even more bullish, forecasting a rise to $75,000.
Ali Martinez, chipped in, too. He said BTC reached its previously-set targets, meaning the next step is a jump toward a new all-time high of $78,000.
What About XRP?
Ripple’s native token has also entered green territory, albeit charting less impressive gains than most leading cryptocurrencies. Currently, it trades at approximately $0.54 (per CoinGecko’s data), representing a 3% increase on a weekly scale.
Some well-known figures on X assumed that XRP has yet to enter a bull run. The Moon (a user with over 1.3 million followers) argued that the asset is “holding strong” and could “regain bullish momentum” should BTC soar above $67,000.
Crypto Tony also weighed in, saying they would go “long and strong” if Ripple’s token surpasses the major resistance level of $0.66.
Overall Meme Coin Resurgence
Last but not least, we will focus on the meme coin sector, which is full of top performers. Turbo (TURBO), for instance, exploded by almost 40% in the past 24 hours to reach a new all-time high of over $0.01. Its market capitalization jumped above $830 million, making it one of the 100 largest cryptocurrencies.
Other meme coins witnessing double-digit gains on a daily scale include Cat in a Dogs World (MEW), Book of Meme (BOME), Memecoin (MEME), and more.
The biggest in terms of market cap – Dogecoin (DOGE) and Shiba Inu (SHIB) – are well in the green, too. The former is up 3.5%, while the latter has registered a mild 2% increase.
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