Studying the crypto market shows that the altcoin season is gradually taking shape

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The altcoin season continues to take shape as many altcoins show strength with several crypto prices reporting gains in the past 24 hours.

The current bullish momentum in the altcoin market could grow even stronger. Experts believe that this period might signal an improved market outlook for altcoins. Following this, many investors are optimistic about the potential gains and actively seek the best cryptocurrencies to invest in right now.

Best Cryptocurrencies to Invest in Right Now

Since the presidential election in November, the cryptocurrency market has risen by 24%. Donald Trump supported digital assets during his campaign. Although the recent growth has slowed, some Wall Street analysts remain optimistic about significant gains for XRP (-9.67%).

Berachain (BERA) continues to attract attention thanks to its proof-of-liquidity (PoL) consensus mechanism, which has gained strong community support by offering an innovative way to secure blockchain networks. Meanwhile, Meme Index is set to offer a structured and potentially more profitable way to invest in the meme coin market.

1. XRP (XRP)

XRP, the native cryptocurrency of the Ripple blockchain, plays a crucial role in facilitating cross-border payments and currency exchanges. Unlike traditional systems like SWIFT, which rely on multiple intermediaries, Ripple’s blockchain aims to streamline transactions, making them faster and more cost-effective.

Currently, fewer than 200 financial institutions use Ripple’s platform. Still, this number could grow significantly once the ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) is fully settled.

A key development in the ecosystem is the launch of Ripple USD (RLUSD), a new stablecoin pegged to the U.S. dollar. This stablecoin provides enterprises with a less volatile payment option. Yet, it still increases the demand for XRP since the token is needed for transaction fees.

Despite XRP recording a 9.89% dip today, bringing its price down to $2.01, its long-term outlook remains promising. After briefly touching $3.20 at the end of January, XRP has fallen 34.20% over the past month. However, its impressive 245.23% rise over the past year has strengthened investor confidence, suggesting that the token’s upward momentum may continue.

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Looking ahead, XRP has the potential to double in 2025. This largely depends on whether Ripple solves its legal battle with the SEC and whether XRP-based exchange-traded funds (ETFs) receive approval.

Furthermore, with the Bank of Japan adopting XRP for cross-border transactions, the token is gaining more legitimacy in the financial system. Investors comfortable with risk and volatility may consider adding a small position in XRP as part of a broader strategy.

2. Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most-recognized meme coins, initially created to compete with Dogecoin. Like DOGE, it draws inspiration from the Shiba Inu dog breed and has been strongly influenced by Elon Musk. However, SHIB has evolved beyond just a meme token, growing into a broader ecosystem with unique features that set it apart.

Unlike many other memecoins, Shiba Inu has built a full-fledged ecosystem, including its decentralized exchange, ShibaSwap, and additional tokens like LEASH and BONE. It also launched a project incubator and partnered with the Shiba Inu Rescue Association, showcasing that it extends beyond a hype-driven cryptocurrency.

Many investors view SHIB as one of the best short-term trading opportunities in the market. Its extreme volatility and strong liquidity make it highly responsive to social media trends. Elon Musk’s influence has played a significant role in its success—one simple tweet about owning a Shiba Inu dog sent SHIB’s price soaring by nearly 300%. This highlights the power of social signals in driving the token’s price movements.

For those considering SHIB for investment, staying updated with news and monitoring its social media presence is crucial. While it remains highly speculative, its low cost makes it ideal for scalping strategies, where traders aim to take advantage of small price fluctuations. Though SHIB’s value can shift dramatically, its price range remains relatively narrow, making it a unique choice for short-term traders seeking quick gains.

3. Meme Index (MEMEX)

The upcoming Meme Index ($MEMEX) aims to offer a structured and potentially more profitable way to enter the market. Meme coins have become a significant part of the crypto industry, with popular tokens like Dogecoin ($DOGE), Shiba