This Crypto Cycle Could Be a Washout for BNB, XRP, and DOGE as Investors Look Toward New Altcoins Like Rollblock

Binance Coin (BNB), Ripple (XRP), and Dogecoin (DOGE) are three of the most well-known altcoins, continuously making headlines over the past few years.

Binance Coin (BNB), Ripple (XRP), and Dogecoin (DOGE) had their time in the sun, but as the new crypto cycle begins, investors are pivoting towards new projects that offer more upside potential. While these altcoins may still be relevant, their performance in the previous bull market might not be replicated this time around.

As a new project, Rollblock (RBLK) is quickly becoming a favorite among DeFi enthusiasts and casino lovers alike. It has shown to be capable of generating a lot of hype and interest, which bodes well for the future of its native token, $RBLK.

Investors are Advised To Look At New Projects

The previous crypto bull market saw a lot of attention being directed towards altcoins, especially those that were centered around decentralized finance (DeFi) protocols. Some of the top gainers included Binance Coin (BNB), Ripple (XRP), and Dogecoin (DOGE), all of which managed to generate returns in the thousands of percent.

However, as a new bull cycle begins, some investors feel that the market has changed significantly. While altcoins are still expected to do well, the best gains might be seen by newer projects that are rolling out now. This is why some investors are pivoting towards projects like Rollblock (RBLK).

Binance Coin Faces Resistance At Lower Highs

Binance Coin (BNB) is one of the few altcoins that managed to maintain a ranking among the top cryptocurrencies by market cap throughout the bear market of 2022. But despite being a leading project, Binance Coin is facing some challenges.

Recent trends indicate that Binance Coin is struggling to maintain its bullish momentum, which began after finding support around $460. While attempting a recovery wave from the $550 support level, Binance Coin faced challenges around the $585 and $592 resistance levels.

After failing to break through these levels, Binance Coin began another decline, which saw it fall below the $570 level once again. This downtrend in open interest and the failure to hold previous support levels suggest that Binance Coin might continue to face challenges in the near future.

Despite being a leading project, Binance Coin's struggles have led investors to look elsewhere for major returns, especially among newer altcoins that are rolling out now. While Binance Coin may still see some gains, its upside potential might be limited compared to other projects.

Investors Lose Confidence In Ripple (XRP)

Another altcoin that had its time in the sun is Ripple (XRP), which fell out of the top 10 cryptocurrencies by market cap after facing legal troubles with the U.S. Securities and Exchange Commission (SEC). Once priced above $3.50, XRP dropped down to around $0.50 after the SEC filed a lawsuit against Ripple Labs in late 2020.

Since then, XRP has struggled to regain its footing and failed to gain investor confidence despite the price managing to hold above the $0.45 level. Heightened whale activity has prevented a more severe price decline for XRP, with whales accumulating over 100 million XRP tokens valued at approximately $47 million in recent weeks.

However, this has not been enough to instill confidence back into retail investors, who have been pulling out of the market throughout 2023. The XRP network has seen a decrease in active addresses, indicating decreasing interest from investors, which is a major concern for its recovery.

Despite whales accumulating XRP, the lack of engagement from smaller investors raises concerns about the possibility of a recovery. The mixed sentiments around XRP as a project are also causing investors and analysts to shift their focus to other upcoming altcoins, which might show better signs of recovery.

Dogecoin Investors Remain Cautious Despite Bullish Signs

Meme coins like Dogecoin (DOGE) also had their time in the sun during the previous bull market, which saw DOGE generate gains of over 10,000%. However, DOGE is also facing some challenges as the new bull market begins, despite showing some bullish signs that could lead to a potential recovery.

Recently, DOGE has shown some strength in the market, which saw it rally up to $0.12 after forming a local bottom around the $0.07 Fib level. This bullish momentum has helped DOGE generate gains of over 250%, which is outperforming most other cryptocurrencies, including leading altcoins like BNB and XRP.

However, investors are remaining cautious, especially after DOGE failed to break through the $0.12 resistance level. The supply of DOGE held by short-term holders has also shifted from 10.5 billion to 13.4 billion DOGE over the past month, raising valid concerns about its volatility.

Furthermore, the main sentiment for DOGE has been negative for about three months now, reflecting a general cautiousness when it comes to altcoins and the DeFi space. This is also causing investors to

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