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XRP, ADA, SHIB: Undervalued cryptocurrencies with huge growth potential!

Wed 07 Jun 2023 ▪ 3 min of reading ▪ by La Rédaction C.
Getting informed Invest

Despite their immense growth potential or market situations that support price increases, certain cryptocurrencies may not be appreciated at their true value. At least, that’s what Santiment suggests. The cryptocurrency analysis platform recently tweeted that altcoins like XRP, ADA, and SHIB are currently undervalued.

XRP, ADA and SHIB logos

XRP, ADA, SHIB: undervalued cryptocurrencies according to Santiment

Santiment, the analytical platform, provides investors with strategic data and insights that can be useful in their decision-making processes. It presents itself as a goldmine of information for cryptocurrency enthusiasts, offering sharp and enlightening analyses, as demonstrated by its bullish predictions for Litecoin and four other altcoins in May.

Santiment’s latest discovery suggests a possible undervaluation of certain cryptos, including XRP, ADA, and SHIB. By analyzing the market capitalizations of these altcoins in the short, medium, and long term, the platform observes that their current valuations in the market are higher than their previous peaks.

Other cryptocurrencies such as DOGE, MATIC, UNI, and LINK complete the list compiled by the platform. Santiment states that these cryptocurrencies have a strong growth potential and could make significant progress throughout the summer.

While the platform envisions a bright future for the mentioned altcoins, the same cannot be said for Bitcoin (BTC) and Ethereum (ETH). Considering the MVRV Z-Score of these two cryptos, Santiment believes they are overvalued.

Current performance of the cryptocurrencies concerned

The undervalued altcoins have varied performances. Only XRP is experiencing an upward trend. The crypto has seen a remarkable growth of 11% over the past week. An impressive performance for the cryptocurrency that evidently benefited from a prosperous period marked by the major trends of the Ripple vs. SEC trial.

While we await the progress anticipated for this summer by Santiment, the current price of XRP stands at $0.54. Many analysts also predict an imminent rally for this digital asset. As for ADA and SHIB, the results are less promising. Cardano’s cryptocurrency recorded a 1.98% decline in the past week, with its current price at $0.37. Finally, the trend has been bearish for the SHIB token, which is currently valued at $0.000008654.

In summary, Santiment believes that despite their high growth potential, some major altcoins are currently undervalued. While the XRP price surge is strongly anticipated by several analysts, the prices of other cryptos could also skyrocket in the coming days, according to the analytical platform.

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La Rédaction C. avatar
La Rédaction C.

L'équipe éditoriale de Cointribune unit ses voix pour s’exprimer sur des thématiques propres aux cryptomonnaies, à l'investissement, au métaverse et aux NFT, tout en s’efforçant de répondre au mieux à vos interrogations.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.