3 Altcoins to Watch as Donald Trump Resumes Office

With the broader crypto market seeing a surge in activity just hours before Donald Trump's inauguration, attention is shifting to key altcoins that could see significant movement in the coming days.

With the broader crypto market showing signs of activity just hours before Donald Trump’s inauguration, attention is shifting to key altcoins that could see significant movement in the coming days.

As Trump prepares to take office, BeInCrypto has highlighted three altcoins that might thrive amid the changing market landscape under his administration.

Solana-based meme coin TRUMP is one to watch this week as Donald Trump resumes office. At press time, the altcoin trades at $56.83, showing a 30% increase in value over the past 24 hours.

An assessment of the TRUMP/USD one-day chart shows that the meme coin is overbought and could witness a price drawdown in the coming days. This is evident from its Relative Strength Index (RSI), which stands at 98.59 at press time.

This indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 indicating that the asset is overbought and due for a correction. On the other hand, values under 30 suggest that the asset is oversold and could witness a rebound.

At 98.59, TRUMP’s RSI signals that the meme coin is extremely overbought and could be due for a correction. If this happens, TRUMP’s price could fall to $31.64.

However, if the bullish pressure persists, the meme coin’s value could revisit its all-time high of $78.

Solana (SOL)

Layer-1 coin SOL is another key altcoin to watch this week. Its Solana network currently hosts the most talked-about meme coin: TRUMP, hence the need to pay attention to its performance.

Due to the surge in activity on the Solana network following TRUMP’s launch, SOL climbed to an all-time of $295.83 on January 19. However, as TRUMP’s price dips, SOL has witnessed a crash in its value. The altcoin currently trades at $267.18, falling 4% in the past 24 hours.

With strengthening selloffs, SOL appears poised to extend its decline over the next few days, potentially causing its price to fall to $239.39.

However, if market sentiment improves, SOL’s value could reclaim its all-time high and attempt to rally beyond it.

XRP

XRP is another altcoin to watch this week. It forms part of the collection of assets that would make up Donald Trump’s “America-first strategic reserve” of cryptocurrencies.