Despite their enormous growth potential or market situations that militate in favor of their rising prices, some cryptocurrencies may not be appreciated at their fair value. At least, that’s what Santiment suggests. The platform specializing in the analysis of cryptocurrencies makes it known through a tweet that altcoins such as XRP, ADA and SHIB, are currently valued below their real values.
XRP, ADA, SHIB: undervalued cryptocurrencies according to Santiment
The Santiment analytics platform provides investors with data and strategic insights that can be useful in their decision-making. She presents herself as a veritable mine of information for cryptocurrency enthusiasts, offering sharp and illuminating analysis, as evidenced by her recent bullish predictions for Litecoin and four other altcoins in May.
Santiment’s latest discovery suggests a possible undervaluation of some 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 market valuations are higher than those they have previously reached.
Other cryptos such as: DOGE, MATIC, UNI and LINK complete the list compiled by the platform. Santiment says these cryptocurrencies have strong growth potential and could make significant progress this summer.
If for the platform, a bright future is looming for the altcoins mentioned, it is quite the opposite for bitcoin (BTC) and ether (ETH). Considering the MVRV Z-Score of these two cryptos, Santiment believes that they have overvalued.
The current performance of the cryptocurrencies concerned
The performance of undervalued altcoins depending on the platform is diverse. Only XRP is experiencing an uptrend. The crypto has seen a remarkable 11% growth over the past week. An impressive performance for the cryptocurrency which obviously benefited from a good period marked by the major trends of the Ripple vs SEC lawsuit.
Pending the progress announced for this summer by Santiment, the current price of XRP is $0.54. Many analysts are also predicting an imminent rally for the digital asset. As far as ADA and SHIB are concerned, the harvest is bleak. The Cardano cryptocurrency has registered a decline of 1.98% in the last week and its current price is $0.37. Finally, the trend has been bearish for the SHIB token which is currently worth $0.000008654.
In summary, Santiment believes that some major altcoins are currently undervalued despite their strong growth potential. If the rise in the price of XRP is announced with insistence by several analysts, the prices of other cryptos could also soar in the coming days, according to the analysis platform.
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