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XRP, ADA and SHIB Are Undervalued, Santiment Says

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Mon, 5/06/2023 - 6:04
XRP, ADA and SHIB Are Undervalued, Santiment Says
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Cryptocurrency analysis platform Santiment has hinted that some of the major altcoins, including Ripple-affiliated XRP, Cardano (ADA), and Shiba Inu (SHIB), might be undervalued in the latest tweet.

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The firm suggests these altcoins have market capitalizations above their realized capitalizations, implying the potential for growth.

The other altcoins included in this underappreciated list are DOGE, MATIC, UNI, and LINK. Based on an analysis of short, mid, and long-term realized capitalizations, Santiment hints that these cryptos may gain ground in the coming summer months.

In the past week, the performance of these cryptocurrencies was varied, with XRP seeing a 7-day growth of 11.6%. Its price currently stands at $0.54 and its market cap is at $27,7 billion. The altcoin is benefiting from the buzz surrounding a potential resolution in the Ripple v. SEC case.  

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ADA, on the other hand, experienced a 1.3% decrease over the week with a current price of $0.37 and a market cap of $13,1 billion. 

Bitcoin has seen a 7-day decline of 3.8%, and Ethereum also recorded a 1.4% decrease in the past week. The underwhelming performance of the top cryptos might be a contributing factor to the undervaluation of altcoins, creating a potential opportunity for investors.

Given this analysis, investors may be prompted to reconsider their altcoin investment strategy. However, it is worth pointing out that the speculation by Santiment, while insightful, does not guarantee the imminent performance of these cryptos. 

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