September is almost coming to an end, and cryptos have experienced mixed fortunes all through the month. While bitcoin (BTC) has remained relatively stable at around $6400, some altcoins such as XRP (XRP) have made huge gains. So, going into October, which cryptos could outperform the market?
While a return of bullish sentiment in the market could see the value of the entire market rise, certain coins are uniquely positioned to outperform the market in this period. Some of these are Litecoin, XRP and Stellar. Here’s why.
Litecoin (LTC) is uniquely positioned to experience some FOMO buying in October. That’s because, it is confirmed that it will be listed on the Gemini exchange in mid-October. Gemini is a respected crypto exchange in the market just like Coinbase. In essence, as the listing date approaches, Litecoin (LTC) could experience some FOMO buying in the first weeks of October. A well timed buy order in Litecoin in this period could give a good return. On top of that, if there is an increased market wide buying momentum in this month, then the value of Litecoin (LTC) could be in the green all through the month of October.
XRP (XRP) has had an interesting September. After dropping to under $0.25, XRP shot up last week to a high of $0.78, but it has since retraced. Going into October, things could be interesting for XRP (XRP) due to SWELL 2018. This event will be attended by the who-is-who in the banking industry and policy making circles. It is widely expected that ripple will be making an announcement with regards to some of the banks going live with XRapid during this period. If such an announcement comes out, then XRP could pump hard in 2018. The pump of the 21st of September was a pointer of how fast XRP can rise if XRapid goes live soon. In essence, if the news of XRapid happens in October, its potential for breaking above $1 in the course of this month will be quite high.
Stellar (XLM) has been one of the most stable coins for the last couple of months. It has been quite responsive to news, and they have been coming in regularly. Going into October, Stellar will continue to make in-roads in the banking sector and this will play a role in pushing up its price all through the month. Besides, Stellar seems to have formed a strong support at around $0.19, which makes it a low-risk buy even if the whole market were to underperform all through this month. There is also the aspect of Coinbase. They have made it clear in the past that they will be listing Stellar. Since the announcement can be made at any time, it is always good to be prepared. If the announcement is made in October, then it could lead to a huge pump that could see Stellar outperform the market, as we start Q4 of 2018.