As Bitcoin's price consolidates above the $94,000 level, traders have turned their attention towards the altcoin market, leading to significant price rallies for top altcoins in the second half of November.
XRP Growth Overview
XRP saw an intraday surge of 12.87%, reaching a new 52-week high with a trading volume of $18.539 billion. It has a market capitalization of $106.85 billion, flipping Binance to rank 5th. The Relative Strength Index (RSI) remains above the overbought range, with a 'golden cross' in its EMA 50/200, indicating potential for continued growth in the upcoming week.
ADA Movement Analysis
Despite neutral price action over the last week, ADA has surged over 200% this month. With a market cap of $37.966 billion, Cardano's current trading price is $1.0880. The daily Cardano price chart is supported by the Simple Moving Average (SMA). The MACD indicator shows a constant green histogram alongside a significant upward trend, suggesting a bullish outlook.
Outlook and Projections
If the bullish sentiment continues, XRP could test its resistance level of $2, and Cardano could reach $1.50. Conversely, a bearish reversal could see XRP fall to $1.50 and ADA retest $0.8750. Long-term projections suggest XRP could range between $4.28 and $8.36 by 2030, and ADA's price could reach up to $7.79 by 2029.
The ongoing price increases for XRP and ADA highlight renewed interest in altcoins as Bitcoin stabilizes above a key level. Continued market bullishness could result in significant shifts in these asset positions.
