The cryptocurrency market has been on fire lately, right? Bitcoin has been on a wild ride ever since it began rising on November 5th during the US election. But it’s not just Bitcoin that’s really interesting — Ripple’s XRP, Cardano (ADA), and Stellar (XLM) are also climbing fast. With a total market cap of a staggering $3.48 trillion, investors are left wondering, “Wait, can this run last?” Let’s take a closer look at what’s going on with these altcoins.
XRP is back — but can it keep climbing?
XRP is on a roll. Since November 5, XRP has surged a whopping 467%, all the way to $2.87, a price not seen since January 2018. While it’s still 31% below its all-time high, it’s a major comeback. The coin has made a splash, with a 17.64% price increase and a 36.12% surge in trading volume over the past 24 hours. It’s even reclaimed its spot as the third-ranked cryptocurrency on CoinMarketCap.
But here’s the thing — XRP may still have room to grow. Can it finally break out of its all-time high? Time will tell, but the altcoin rally is definitely worth keeping an eye on.
ADA and XLM: Close Behind
Cardano (ADA) has also been in the spotlight, rising 307% to $1.32 since the beginning of November. The latest data shows that 79% of ADA holders are in profit, although it is still 59% below its all-time high of $3.10. But hey, Cardano's fundamentals are strong, which is why investors are still excited about this cryptocurrency.
Then there’s Stellar (XLM), which has really caught the eye with a whopping 607% gain since November 5. While the price is still 42% below its all-time high, the volume has increased by 27% in just 24 hours, which shows that people are starting to pay attention.
What's next?
So after all these huge gains, the cryptocurrency market is taking a breather. Many investors are locking in profits, which is causing some stagnation. It's easy to think the rally may be over, but historically, this is just a cooling off of the market before it takes off again.
Santiment said in an article on X that trader fatigue is starting to set in and retail activity is slowing down. However, this is not necessarily a bad thing. It may be a sign that FOMO (fear of missing out) has disappeared, which means there is more room for growth. The market often surprises us, and sometimes, the quiet period is the foreshadowing of the next big move.
So, what will happen next? It’s hard to say, but the world of crypto is unpredictable. Be prepared, because this could just be the calm before another altcoin storm.