The US government is inching closer to setting up a crypto strategic reserve after President Trump’s executive order earlier this month, which could bode well for XRP rivals. Last week, Congressman Byron Donalds tabled the “Reserve & Stockpile Act” that will turn Trump’s plan to buy XRP, Bitcoin, Ethereum, ADA, and Solana into law.
If the US Congress passes this reserve bill, the crypto assets mentioned by Trump as part of the initiative such as XRP are bound to rally. This rally could also trigger a massive rebound for XRP rivals including SOL, ADA, XLM, and DOGE.
XRP Rivals to Buy Before Crypto Strategic Bill Passes Into Law
These four XRP rivals have some strong fundamentals and bullish catalysts that could see them making massive returns once Congress approves the crypto strategic reserve bill.
Solana (SOL)
Solana price today trades at $128 after a 5% drop in 24 hours. The crypto strategic reserve bill is an ideal opportunity for traders to buy the dip before a parabolic SOL price rally.
Crypto expert Coinvo noted that Solana price had formed a cup and handle pattern on its weekly chart. This pattern signals a bullish continuation, with the price target being the height of the neckline and the depth of the cup.
If Solana completes the handle and reverses back to the neckline, the price could surge to as high as $500. A crypto strategic reserve bill will also see SOL become one of the assets held by the US government, which is another bullish catalyst that makes Solana one of the best XRP rivals to buy.
Cardano (ADA)
Cardano is one of the top US altcoins that may be mentioned in Congress when the US crypto strategic bill is tabled. At press time, ADA trades at $0.71, marking a 4% decrease in 24 hours. However, ADA whales seem to be buying the dip. Crypto analytics platform TapTool has noted that whales bought 130M ADA tokens in the past 72 hours.
Cardano price has also successfully defended critical support at $0.69, and is attempting to make a crossover above its 200-day EMA. Once the altcoin confirms this bullish move, the price can move upwards to the 123.6% Fibonacci level of $1.30.
Because of this bullish technical outlook, Cardano is one of the best XRP rivals to buy for significant gains in the coming weeks.
Stellar (XLM)
Stellar price has seen a slight decline of 1.7% in the last 24 hours after a downtrend across the broader crypto market. At press time, XLM trades at $0.269 and could be one of the top XRP rivals to rally after the crypto strategic reserve bill is passed.
Analysts have shared a bullish Stellar price prediction after the price swang above the 23.6% FIb level of $0.23. This level also marks the lower trendline of a bull flag pattern. If XLM price flips the upper trendline, the next target is the $161.8% Fib level of $0.95.
XLM also tends to mimic XRP price movements. Therefore, an XRP rally after Congress approves the bill will stir XLM gains.
Dogecoin (DOGE)
Dogecoin price has been under bearish pressure. After losing critical support at $0.20, DOGE has dropped to $0.17, However, analysts are optimistic that a Dragonfly Doji on the weekly chart rhymes with Dogecoin’s 2017 trend.
After DOGE confirmed this setup in 2017, the price surged by more than 10x within months. If history rhymes, Dogecoin may be on the verge of a parabolic rally, making this altcoin one of the top XRP rivals to buy today.
Summary of Top XRP Rivals to Buy
The passing of the US crypto strategic reserve bill could stir a parabolic rally for XRP price and most cryptocurrencies. This rally could also extend to four XRP rivals including SOL, ADA, XLM, and DOGE.
Frequently Asked Questions (FAQs)
The top XRP rivals to hold if the US Congress approves the crypto strategic reserve bill are SOL, ADA, XLM and DOGE.
If the US crypto strategic reserve bill is approved by Congress, it could boost investor confidence in crypto assets, and stir massive price gains?
Solana has formed a cup and handle pattern on its weekly chart, suggesting that a rally to $500 could be underway.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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