As Q2 ends today, many major altcoins are preparing for critical developments that could shape their performance in Q3. Leading the list is that XRP is set up to debut XRPL EVM Sidechain.
So, Beincrypto has analyzed Altcoins for investors to watch this week, and where they are heading when July begins.
XRP
XRP is currently trading at $2.17. This is just below the important resistance level of $2.23. Altcoin is waiting for strong bullish clues to pass this barrier. One potential catalyst is the launch of a new sidechain.
If successful, sidechain adoption can raise the price of XRP by attracting new investors and increasing demand.
The recent partnership between Ripple and Wormhole is expected to bring multichine interoperability to XRPL with the upcoming launch of XRPL EVM Sidechain. The chain’s debut was expected in the second quarter, but the update was only shared last week. The announcement sets the stage for potential breakouts in the coming months.
The XRPL EVM Sidechain is scheduled to be released in Q3, and building this release could attract great interest in XRP. If the excitement surrounding the launch drives demand, XRP could surpass $2.23 resistance, possibly reaching more than $2.27.
Securing a 50-day EMA as support will solidify your bullish momentum. However, further delays in launch could result in XRP holders being sold, reducing the price to a support level of $2.08.
BNB
BNB prices have recently risen 6%, marking the end of a month’s downward trend. Traded at $653, Altcoin focuses on securing a support level of $647. If defenses in this price range are successful, BNB builds on recent profits and aims for a higher target.
Another major development for BNB is the upcoming Maxwell Hard Fork, scheduled for June 30th. This hard fork reduces block time from 1.5 seconds to 0.75 seconds, allowing faster transaction finality. This update may improve the overall efficiency of your networkboosts investors’ trust and increases BNB prices.
The parabolic SAR indicator is currently located under the candlestick, continuing the BNB bullish momentum. The next resistance level is $686, but AltCoin must first secure $647 in support. If this support is achieved, BNB could target $686. However, if the price cannot hold $647, the BNB could drop to $618, negating the bullish outlook.
Polygon (Pol)
Pol Price has recently bounced off its support level of $0.171, but continues to struggle under the $0.190 resistance. The consolidation follows a 25% decline seen in mid-June. Current horizontal movements suggest that market sentiment is uncertain and breakouts are heavily dependent on future developments and broader market conditions.
Polygon is preparing for critical network upgrades, increasing scalability. By the start of Q3, the network is expected to process 1,000 transactions per second with a finality of less than 5 seconds. This upgrade can significantly improve the performance of the platform, attract investors’ interest, and increase the price of Altcoin.
The Chaikin Money Flow (CMF) indicator shows that polygon inflows are gradually increasing, indicating a growing interest. If this trend continues, POL could break through $0.190 resistance and rise to $0.204. However, if momentum stalls, Pol will not violate resistance, falling below $0.171 and slipping past $0.167, negating the bullish outlook.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
