Paul Atkins, a pro-crypto lawyer, has become the new head of the Securities and Exchange Commission (SEC). He replaces Gary Gensler, an official who focused on litigation, filing lawsuits against multiple companies. Therefore, it is likely that some altcoins, such as Hedera Hashgraph (HBAR), Ripple (XRP), and Solana (SOL), will surge 10X after this change in leadership at the agency.
Best Altcoins to Buy for 10X Gains as Paul Atkins Becomes SEC Chair
The crypto market is expected to thrive after the new change in leadership. A likely catalyst for this is that the agency is expected to approve most of the 72 crypto ETFs filed by companies such as Franklin Templeton, Canary, and Grayscale.
Additionally, the SEC is likely to avoid filing major lawsuits against the crypto sector. XLM, XRP, and SOL will all be beneficiaries of these events.
Hedera Hashgraph (HBAR)
Hedera Hashgraph is one of the top altcoins that could surge 10x after the recent events at the SEC. That’s because Canary has applied for a spot HBAR ETF, which will likely be approved in the coming months.
HBAR price has also formed a falling wedge pattern on the daily chart. The two lines are nearing their confluence level, while the price has moved slightly above the upper side. Additionally, top oscillators, such as the Relative Strength Index, have formed a bullish divergence pattern, indicating a strong surge.
Therefore, the HBAR token is likely to experience a strong bullish breakout in the coming months, with a target of $0.2500.
Ripple (XRP)
XRP is another top altcoin to buy due to its history with the SEC. The SEC recently concluded its litigation with Ripple, allowing the company to engage in transactions with other financial services industry entities.
The agency is also expected to approve some or all of the ETF applications by companies like Grayscale, Canary, Bitwise, and 21Shares. Such a move is expected to lead to over $8 billion in inflows.
XRP price has formed a falling wedge chart pattern, pointing to an eventual rally in the coming weeks. If this happens, the price to watch will be $3, up by 43% from the current level.
Solana (SOL)
Solana is also one of the top altcoins to buy and hold for 10x gains in the near term. Like XRP and HBAR, several companies like Canary and Bitwise have applied for a spot SOL ETF.
The coin has also formed a cup-and-handle pattern on the weekly chart. It has a depth of about 96%. Therefore, measuring the same distance from the upper side of this pattern will bring the next target to $500.
Solana may also benefit from the growing ecosystem, and the fact that some companies like Upexy and Janover have started accumulating the token.
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