Why XRP, DOGE, and SHIB are ‘undervalued' altcoins to watch this summer

Cryptocurrencies have witnessed a remarkable recovery this year, bouncing back from the market slump experienced in 2022. However, despite the significant rebound, their current values remain significantly below the record-breaking all-time highs reached in 2021.

Timeline of Dogecoin, Shiba-inu, Xrp

While the cryptocurrency sector is waiting for the June 13 release of the controversial documents in the legal standoff between the United States Securities and Exchange Commission (SEC) and blockchain firm Ripple, an important hearing awaits that could have an effect on the case, as well as the future of crypto assets.

The world's sixth-largest cryptocurrency XRP has shown strong decoupling from the rest of the crypto market over the past week amid strong whale activity and investor interest. Defying the broader market correction once again, Ripple's XRP has gained 2.5% in the last 24 hours and is currently trading at $0.532 with a market cap of

The crypto space has been trading under extreme bearish conditions for the past few weeks, keeping the majority of the tokens under narrow consolidation. However, all the focus appears to have shifted over XRP, as the price managed to close the previous week's trade on a bullish note.

Shiba Inu (SHIB) has faced challenges in maintaining the level of liquidity it once enjoyed. In recent weeks, the coin has exhibited minimal volatility, leaving many investors wondering about its future direction.

XRP Price Prediction: Decoupling from the broader market sentiment of uncertainty, the XRP price has shown sustained recovery for nearly a month. From the last swing low of $0.415, the coin price surged nearly 30% to reach the current price of $0.53.

Dogecoin trended downward in April after falling below $0.082, but exhibited rangebound price action in May. This was likely to continue in June, with DOGE facing a lack of substantial buying pressure.

John Deaton, a well-known American lawyer and founder of CryptoLaw, recently shared his insights on the ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple. Deaton, who has been closely following the case, made his comments during an interview on 3T Warrior Academy's “Good Morning Crypto Show” on June 3, 2023.

In recent weeks, Ripple's price has displayed an upward trend, recovering from a notable support level. However, there is still a crucial resistance level that must fall for the market to enter a bullish phase in the coming months.

Recent data from IntoTheBlock reveals a staggering surge in the volume of large transactions involving the Shiba Inu token. Since June 1, these transactions have witnessed a remarkable increase of $10.7 million, marking a substantial growth of 310.69%.

The Shiba Inu token (SHIB) has seen a period of relative stagnation for the past 24 days, but this might change in the upcoming week, according to recent data. The cryptocurrency, famous for its meme-coin origins, has displayed almost no volatility in recent weeks, but several indicators suggest that a significant price movement could be on the horizon.