XRP or Polkadot [DOT] – Which altcoin can lead the altcoin rally now?

Polkadot and XRP’s daily charts turned green as their values surged by over 2% in the last 24 hours.After days of sideways price movement, altcoins have turned bullish as most of their daily charts were green. In fact, the latest analysis suggests that altcoins have already begun their bull rallies. Ergo, it’s worth checking the status of top altcoins likehighlighting an interesting development.

However, despite the recent hike in price, bearish sentiment around DOT remained bearish. The same was evidenced by its negative weighted sentiment. On the contrary, XRP’s case was was different, as the token’s weighted sentiment spiked on 4 April.Since both tokens’ registered price upticks, it’s worth assessing which of these tokens can lead the altcoin rally.

AMBCrypto found that buying pressure on XRP remained high as its supply on exchange graph went down over the last few days. The fact that buying pressure was high was further proven by its exchange outflows, which spiked multiple times last week.For instance, DOT’s open interest, after a decline, rose slightly along with its price. Whenever the metric rises, it indicates that the chances of the on-going price trend continuing are high.

A low long/short ratio indicates that there are fewer long positions than short positions in the market. This is a sign of bearish sentiment and potentially lower prices. Therefore, at press time, the chances of XRP taking the lead seemed higher. However, considering the unpredictable nature of the crypto-market, it’ll be interesting to see how well both of these tokens perform.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space.

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