Cryptocurrency markets recently survived July’s CPI data, keeping Bitcoin consolidating near the $29,500 mark. The U.S. Securities and Exchange Commission (SEC) recently delayed the BTC ETF spot application, leaving investors with no choice but to invest in altcoins. Meme coins dominated the market last week, with Shiba Inu (SHIB) leading the momentum. However, altcoins like Ripple’s XRP, Litecoin (LTC) and Binance Coin (BNB) will be in the spotlight next week.

Altcoin season is coming

Daily altcoin market capitalization has been hovering around $230 billion for the past three weeks.

Altcoin market cap could see a triple bottom or inverse head and shoulders, but remains skeptical of this pattern in the process of consolidation. He is waiting for a move above $300 billion. The current chart shows two outcomes: either the market cap falls, negating the inverse head and shoulders pattern, or the market cap exceeds $300 billion, indicating that altcoins are starting to surge.

Ripple (XRP) Price Analysis

XRP has retreated from the 50-day EMA at $0.65, which shows that the bears are trying to use this as a resistance point. Currently, XRP price is consolidating between the EMA lines, which suggests that buyers are preparing for a storm next week.

The key support level to monitor is $0.6. If this support breaks, the selling pressure could intensify, pushing the XRP price towards the $0.56 mark.

Alternatively, if the price surges up from the 50-day SMA, it might stabilize and hover between these moving averages for a while. A successful rise and stability above $0.67 will suggest a bullish trend that can result in a rally to $0.73.

Litecoin (LTC) Price Analysis

Litecoin (LTC) is facing challenges to rebound from the bearish zone. However, buyers have managed to hold the $82.5 support, which suggests a strong recovery rally next week. However, the descending EMA trendline and the RSI levels trading around the midline suggest bearish pressure on the price chart.

If the LTC price drops and remains below $81 for a sustained period, it will indicate a renewed bearish trend. The next support to watch is $79 and then $75.

On the other hand, the bulls might be preparing for a breakout above $85. If the market bulls push the price above this level, it could indicate the start of a stronger recovery that could reach $95, where the bears might again mount an intense selling pressure.

Binance Coin (BNB) Price Analysis

BNB price has staged a strong recovery rally in the past few hours, aiming to regain its old momentum. The bulls have been buying heavily near the $238 low.

If the BNB price drops to the support line of the triangle, there could be a surge in selling activities. It is crucial to monitor this level because a break below it could trigger the next downside leg to $228, where the bulls are expected to take advantage of the decline.

The price is likely to trigger heavy buying if it breaks out of the triangle pattern next week. This momentum could push BNB towards $260.