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After the victory of Donald Trump in the USA elections, Artemis Terminal shows that the crypto Fetch.ai (FET) and Ripple (XRP) are showing a performance superior to the benchmark Bitcoin.
Is this a prelude to the long-awaited altseason phase?
We will find out soon.
Artemis Terminal: the best crypto sectors after Trump’s victory, XRP and Fetch.ai on the podium
According to the results from Artemis Terminal, many cryptos like FET (Fetch.ai) and XRP (Ripple) have recorded a significant growth in the last few hours.
That the trigger was the victory of Donald Trump in the US presidential elections could be easily guessed, but which sectors are performing better?
First of all, what immediately stands out is that Ethereum has performed better compared to the benchmark of the crypto world, namely Bitcoin.
While the orange currency has seen its value increase by 6% in the last day, the second by market capitalization has grown by 8%.
This difference of 2 percentage points, although it may seem irrelevant, implies a possible reversal situation where the market will be led by the altcoin.
Not by chance Trump’s victory coincides with the local top of Bitcoin’s Dominance, which, after reaching 60%, halted with a bearish engulfing.
From the Artemis dashboard, we can easily see how a wide range of specific investment sectors have shown excellent performance.
Almost all surpass the percentage return of Bitcoin, with the average of altcoins standing at 8.4%.
The tokens of staking, DeFi, memecoin, perp DEX, data services, data availability, RWA, AI, and oracle emerge as top gainers.
All these categories on the last day have indeed grown more than the sector average, with even cases of extreme pump.
It is worth mentioning in this regard cryptos such as UNI which soared to +32%, NEIRO +33%, AAVE +25%, INJ +23%, ENA +21%, and RUNE +20%.
Pay particular attention to how the memecoin will behave from now on, given that they have outperformed the other asset classes in the last 3 months.
Source: https://app.artemis.xyz/homeFetch.ai (FET) pushes upward and fuels the AI narrative
As mentioned, one of the main standout figures of this bull day is crypto Fetch.ai (FET).
The currency, known by the new name of “Artificial Superintelligence Alliance” after the recent merger with OCEAN and AGIX, has grown by 20% in 24 hours.
After going through a predominantly bear summer phase, here are the first signs of annual recovery for the currency based on AI.
FET with today’s movement has recaptured the threshold of 1.4 dollars, moving back above the EMA 50 on the daily time frame, fueling hopes of another leg up.
The high at 3.48 dollars is still very distant and it is therefore too early to return to euphoria, but something could start to move now.
We remind you that the Fetch.ai token is one of the most representative of the artificial intelligence sector.
Its price movements can inspire other similar tokens, acting as a correlation index for less capitalized products.
In a single day, Fetch.ai increased its market cap by a whopping 700 million dollars.
It is a particularly high figure for a crypto that has a total market capitalization of 3.7 billion dollars.
Broadening the horizons, we can notice how the FET chart is forming a large “inverse head and shoulders” pattern, which often resolves to the bull side.
As trader “CryptoLeo00” points out, after Trump’s victory in the US elections, a bullish season for AI tokens could begin.
FET would be one of those that would benefit the most from a similar scenario.
Before celebrating victory, however, let’s at least wait for a reclaim of 2 dollars.
https://twitter.com/CryptoLeo00/status/1854101423572898117
Ripple’s crypto (XRP) sees a glimmer of hope for the approval of a spot ETF in the USA
Another crypto that has moved magnificently in the last 24 hours is Ripple (XRP).
This token, still subject to the legal feud with the SEC, could be close to a turning point once and for all.
XRP marks an increase of about 5%, enough to have surpassed the psychological barrier of 0.50 dollars.
Despite the performance seeming lower compared to the rest of the altcoins, let’s remember that this coin has a very high capitalization.
In fact, Fetch.ai has increased its market cap by 700 million dollars with a 20% pump, while XRP has increased by 1.7 billion dollars with a 5% growth.
Unlike other currencies, this one has not yet surpassed the EMA50, a sign that the bears might still be in play.
For a bullish return, we must wait for at least the recovery of 0.60 dollars, with the breaking of a very important resistance.
The true bullish phase on XRP could arrive if the new president Donald Trump decides to fire Gary Gensler by restructuring the SEC.
This condition will lead to a higher probability of winning in court for Ripple, which will no longer have to pay the hefty fine imposed by the Commission.
XRP has already been defined as a “non security” token by a ruling from Judge Annalisa Torres, now only the dismissal of the case is awaited.
In all this, if XRP were to win this battle, which has been going on for 4 years now, the first USA spot ETFs on the crypto would very likely arrive.
A few days ago, the provider of exchange-traded products 21Shares filed a document with the SEC to request the introduction of a similar instrument.
If everything goes as planned, XRP will be one of the leading coins in the next bull run.
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