December is proving to be a pivotal month for the cryptocurrency market, with Bitcoin reaching new all-time highs. The leading token is currently hovering around $107,000 and is aiming to break the $110,000 mark. If Bitcoin successfully reaches this milestone, it could have a significant impact on three other major cryptocurrencies.
Ethereum (ETH) is one of the top coins to watch as it continues to gain momentum in the market. At the time of writing, Ethereum is trading at $3,857, with analysts predicting a potential surge to $6,000 if it can overcome resistance at the $4,100 level. According to CoinCodex, Ethereum could see a 13% increase to reach $4,351 by January 17, 2025. The current sentiment for Ethereum is bullish, with a Fear & Greed Index showing extreme greed.
Ripple (XRP) is also poised for growth, with the potential for new price peaks on the horizon. The token is awaiting approval for new ETFs from the US SEC, which could boost its value. Additionally, the launch of the RLUSD stablecoin is expected to further enhance XRP’s price trajectory. CoinCodex predicts that XRP could retest $2 before reaching a high of $4 by April 2025. The sentiment for XRP is currently bullish, with a Fear & Greed Index showing extreme greed.
Solana (SOL) is another cryptocurrency to keep an eye on as it continues to attract attention for its ability to launch new tokens and coins. In 2024, Solana introduced popular tokens like BONK and DogWifHat, which gained significant popularity in the market. CoinCodex forecasts that SOL could surge to $239 in the near future. The sentiment for Solana is neutral, with a Fear & Greed Index showing extreme greed.
Overall, these three cryptocurrencies are expected to experience significant growth if Bitcoin reaches $110,000. Investors are advised to consider adding these coins to their portfolios before the market sees further price increases.