These Altcoins Are Set To Skyrocket On Donald Trump’s Inauguration Day.
The market has faced many legal and government challenges and now hopes for better policies with the new administration. After President-elect Donald Trump took office on Monday and appointed several to key positions, supporters may have a say in U.S. tech laws. As a result, the crypto market is already booming, with several altcoins set to rise on January 20. Interestingly, the official Trump meme coin, Solana and XRP may make new ATHs on Monday.
The ‘Trump Pump' May Exceed Buyers' Expectations.
With President-elect Donald Trump less than a day away from his inauguration on January 20, traders are eager to see how his rumored pro-crypto administration will affect the future of the industry.
Also Read: XRP Lawsuit News: Ripple's Fight With SEC Takes New Memory As Trump Introduces Meme Coin
On Friday, Bitcoin hit a 2025 high as investors look forward to Donald Trump's second presidential inauguration on January 20. Trump reportedly plans to sign more than 100 executive orders immediately, some of which could take down Bitcoin and the broader crypto market.
As a result, many altcoins, along with the new meme coin launched by Donald Trump, began to increase in value. However, there is concern about possible pump-and-dump schemes in the market, although the probability of this happening is very low.
Official trumpet price analysis
Just days before Donald Trump's inauguration, Trump announced a new cryptocurrency called memecoin. Despite concerns of potential scams, the excitement has seen the value of memecoin on the Solana blockchain grow to a market capitalization (FDV) of more than $38 billion.
The conclusion is expected to grow as the meme coin backed by the incoming president boosts trader confidence. The official Trump meme coin is currently trading at $38.8, up more than 190% in the last 24 hours.
The Trump coin is expected to maintain its buying interest on January 20. As the price chart shows an ascending wedge pattern, the price of the coin is predicted to rise above $40. The January 20 target price is set between $70 and $80.
Solana (SOL) price analysis
The price of Solana immediately rose above the resistance lines and reached the November high. As of writing, the SOL price is trading at $270, up 8.9% from yesterday's rate.
The 20-day moving average has started to rise, and the relative strength index (RSI) has moved into overbought territory, suggesting that an immediate support level may be slightly tested. There is a little resistance at $303, but it is expected that this price can be exceeded. If so, the SOL/USDT pair could rise to $350 tomorrow.
XRP price analysis
XRP continues to grow as the new SEC may bring new crypto policies and have a positive impact on Ripple's lawsuit. The price of XRP is rising sharply and is preparing for further gains tomorrow, consolidating at $3.2.
For a strong rally, XRP should hold above the EMA20 trend line. As the RSI level continues to see the 60 level, the price of XRP may rise to $3.8-$4.
