Top Cryptocurrencies to Consider Purchasing on November 15 – Brett, Hedera, XRP

Spot Bitcoin ETFs experienced outflows of $400 million on Thursday, concluding a six-day period that saw inflows exceeding $4.7 billion. As Bitcoin encounters difficulties, investors are shifting their focus to alternative cryptocurrencies that may present better buying opportunities in the current market.

Good morning,
Yesterday, Bitcoin ETFs recorded an outflow of $400.7 million.
Fidelity accounted for $179.2 million in outflows, Bitwise $113.9 million, Ark $161.7 million, and GBTC $69.6 million.
Conversely, BlackRock saw inflows of $126.5 million.
The price fluctuated from $91.7k to $87k.
source: @FarsideUK pic.twitter.com/06hJ61UNXa

— WhalePanda (@WhalePanda) November 15, 2024

The outflows were not evenly spread across the funds, with some showing better performance than others.

BlackRock’s iShares Bitcoin Trust (IBIT) attracted $125 million, while VanEck’s Bitcoin ETF (HODL) noted an inflow of $2.5 million, as per CoinGlass data.

In contrast, other notable funds, such as Fidelity’s Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), and Grayscale’s products, collectively faced outflows amounting to $530 million.

This decline followed Bitcoin’s rise to unprecedented highs earlier in the week, fueled by investor excitement and robust market sentiment.

Bitcoin briefly exceeded $93,000 on Wednesday but has since struggled to maintain a position above the $90,000 threshold.

On Thursday, Bitcoin closed with a 3.5% decrease, finishing at $87,325. This drop coincided with the release of the October U.S. CPI data, which indicated headline inflation at 2.6% year-over-year, with core inflation at 3.3%, as anticipated.

Following the data release, market expectations for additional Federal Reserve rate cuts were tempered.

Yesterday, the focus was on the October US CPI data. Headline inflation reached 2.6% year-over-year, with core inflation at 3.3% as expected. Markets now foresee a 78.9% likelihood of a 25 basis point Fed rate cut on December 18.#US #CPI #Fed #Inflation pic.twitter.com/c8fxDfZ7Ss

— zForexglobal (@zForexglobal) November 14, 2024

According to the CME FedWatch Tool, 62.1% of market participants now anticipate the Fed will reduce rates by 25 basis points at the December meeting.

Bitcoin has shown a slight recovery in today’s trading session, reaching an intraday high of $90,691. However, it has since retreated and is currently priced at $89,355, reflecting a modest increase of 2.34% as of this writing.

Market analysts indicate that while the short-term outlook for Bitcoin may encounter obstacles, the long-term growth potential remains robust, and the current conditions may present a favorable entry point for investors.

While some analysts suggest Bitcoin could yield significant gains over the next year, many seasoned crypto investors are focusing on altcoins that may provide higher returns in this market cycle.

This week, notable performers include Brett, Hedera, and XRP, which could be regarded as some of the best cryptocurrencies to consider for purchase at this time.

BRETT Surges 12%, Eyes All-Time High in a Market Divergence

BRETT (BRETT) has outperformed the market trend, climbing 12.86% today, while Bitcoin has increased only 2.34% and Ethereum has decreased by 1.08%.

The meme coin has established itself among the top gainers in the cryptocurrency market, reaching an intraday peak of $0.1930 earlier today, bringing it close to its all-time high of $0.1955.

However, BRETT faced challenges in sustaining this momentum and has retraced to its current price of $0.16202, although it remains up by a significant 12.86% for the day.

Source: TradingView / BRETTUSD

The recent increase is backed by a substantial rise in trading volume, which currently stands at $238.05 million, reflecting a 10% increase over the past 24 hours.

This rise in volume indicates strong buying interest, suggesting that the upward trend may persist.

Moreover, the exponential moving averages (EMAs) for the short-term (20), medium-term (50), and long-term (100) are all aligned, further validating the bullish sentiment.

The alignment of these EMAs indicates that BRETT’s short-term momentum is strengthening, supporting the likelihood of continued upward movement.

Despite the recent pullback, BRETT is aiming for its all-time high, with potential retracement levels identified at the previous resistance turned support range of $0.14742 to $0.15422.

This range corresponds with the Fib 0.382 level at $0.14735. Should the price decline further, the next support level is at the Fib 0.5 level of $0.13324.

At its current price of $0.16202, BRETT is nearing the $0.166 resistance level, the next hurdle before potentially challenging its all-time high of $0.1955.

If buying pressure continues, BRETT could surpass this resistance and move higher.

However, any shift in market sentiment or increased profit-taking could lead to a decline towards the aforementioned support levels.

HBAR’s Momentum Continues as Resistance Levels Near $0.08 Hold Strong

Hedera’s HBAR token has increased over 20% this week, benefiting from the bullish sentiment surrounding Bitcoin and other cryptocurrencies.

After encountering resistance at the 100-day EMA on September 28, HBAR experienced a downturn, reaching a low on November 4.

Since then, the cryptocurrency has rebounded, breaking through its short-term, medium-term, and long-term Exponential Moving Averages (EMAs) to regain its bullish momentum.

Source: TradingView / HBARUSDT

HBAR is currently up by 60% from its low and is trading at $0.06740, reflecting a 5.51% increase so far today.

The token’s next significant resistance levels are at $0.06866, aligning with the Fib 0.236 retracement, followed by a stronger resistance zone at $0.07479 to $0.07618.

This area faced rejection on Tuesday after HBAR reached a new multi-month high.

With HBAR on an upward trend and key indicators signaling a potential bullish crossover, it is one to monitor when evaluating the best crypto to buy now.

XRP Surges 50% Amid Regulatory Speculation and Ripple’s Stablecoin Launch

XRP has surged more than 50% this week, approaching its $0.90 resistance level and potentially on track to challenge its 2023 high of $0.9380.

Investors are also speculating whether the token could reclaim the $1 mark, a milestone it has not achieved in nearly three years.

$XRP IS PUMPING HARD pic.twitter.com/IC7CnGTsPm

— Ash Crypto (@Ashcryptoreal) November 15, 2024

The rally is fueled by speculation regarding U.S. SEC Chairman Gary Gensler’s possible resignation and increasing enthusiasm for Ripple’s forthcoming RLUSD stablecoin launch.

XRP has already surpassed the $0.80 level, currently trading at $0.88, up 14% so far today.

Discussions about Gensler stepping down gained momentum following his remarks on the necessity for clearer regulations for cryptocurrencies.

A potential shift in SEC leadership is viewed as a pathway to a more favorable regulatory environment for XRP and other cryptocurrencies, generating optimism among investors.

Ripple’s RLUSD stablecoin, set to launch on both the XRP Ledger and Ethereum blockchain, is another significant factor contributing to XRP’s price increase.

With #RLUSD operationally ready, Ripple President @MonicaLongSF recently joined @TheBlock__’s @fintechfrank to discuss the story behind Ripple USD and its implications for the future of digital payments: transparency, speed, and stability once launched. https://t.co/i0xgaersdo

— Ripple (@Ripple) November 14, 2024

Pegged to the U.S. dollar, the stablecoin aims to enhance Ripple’s blockchain with improved speed, security, and cost-effectiveness.

Supported by fully transparent reserves under a New York Trust license, RLUSD has strengthened confidence in Ripple’s ecosystem.

With these developments, XRP investors remain hopeful about the token’s future trajectory, making it one of the best cryptocurrencies to consider for purchase at this time.

How Crypto Presales Align with the Current Bullish Market Momentum

As the crypto market maintains its bullish momentum, seasoned traders are increasingly seeking high-potential opportunities to diversify their portfolios beyond Bitcoin.

While established altcoins continue to be a popular choice, crypto presales have emerged as an attractive strategy, allowing investors to acquire tokens at discounted prices prior to their public market debut.

In a market that is gaining optimism, presales offer a distinct advantage for those looking to capitalize on early-stage projects with significant growth potential.

This early access can be a crucial factor for maximizing returns, especially as Web3 projects and new protocols continue to secure funding and advance their development through presales.

For investors with a discerning eye, presales present an opportunity to engage with projects that have promising foundations.

The key to success lies in thoroughly assessing the project’s team, vision, and real-world applications—elements that could drive substantial future growth.

Given the current bullish outlook, several presale tokens are gaining attention.

Cryptonews has compiled a list of 16 Bitcoin alternatives in presale that could be regarded as the best cryptocurrencies to consider for purchase now, offering investors a unique opportunity to enter at a potentially lucrative stage.

16 Best Crypto Presales to Invest In Now

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