According to Alex Kuptsikevich, senior market analyst at FxPro, the cryptocurrency market has experienced a period of relative stagnation, marked by a decline in market capitalization. However, recent developments suggest a slight uptick in market activity.

Ethereum (ETH): Trading at $2,977.88, Ethereum has witnessed a 2.6% increase over the past 24 hours, with its market cap surpassing $357 billion. Despite this short-term uptick, Kuptsikevich highlights Ethereum's challenges, including ongoing consolidation near the lower end of its price range and a "death cross" under its 200-day average, indicating potential longer-term declines.

Cardano (ADA): With a 2.43% rise in price to $0.4461, Cardano's market cap has also seen a 2.42% increase. Positioned among the top 10 cryptocurrencies, ADA's trading near the lower end of its range suggests a cautious outlook despite recent gains, echoing Ethereum's consolidation trend.

Litecoin (LTC): Litecoin has experienced a 1.81% price increase to $80.98, accompanied by a 1.82% rise in market cap. As the 19th largest cryptocurrency, LTC continues to test its 200-day average, indicating potential ongoing struggles to regain stronger bullish momentum.

XRP: Trading around $0.50, XRP has faced challenges after losing key support in April. Kuptsikevich suggests a bearish scenario for XRP, with potential pullbacks to long-term support at $0.25-30. Despite a modest 1.57% price increase, XRP's break below key support levels earlier in the month indicates a challenging road ahead.

Solana (SOL): Speculative potential surrounds Solana, with predictions by Merkle Tree Capital suggesting a rise to $400 by November 2024, driven by meme coin popularity linked to the U.S. election campaign. SOL has surged notably since this analysis, with a 7.54% price increase to $152.76, making it the fifth largest cryptocurrency.

While short-term gains driven by U.S. inflation data offer promising prospects, Kuptsikevich's medium-to-long-term analyses highlight nuanced challenges that could be influenced by external economic factors. As the cryptocurrency market evolves, investors must carefully consider both short-term trends and long-term projections to navigate effectively in this dynamic landscape.