Donald Trump's victory in the election has triggered a wave of upward trends in the cryptocurrency market, driving significant gains across many digital assets. Notable moves include Cardano (ADA), XRP, and Solana (SOL), with each movement showing distinct price momentum over the past few days.
ADA has surged nearly 40% since Trump's victory on November 5, rising from $0.333 on November 6 to $0.459 within two days. This bullish rally has broken through several resistance levels, shifting sentiment from neutral to bullish and opening the door to higher targets.
Notably, Cardano's expanding DeFi network has further fueled optimism, positioning the blockchain for increased adoption. ADA recently retested the resistance level of $0.45. A breakout above this level could push the token to $0.48, potentially reclaiming the high of $0.81 achieved in March 2024.
XRP has emerged as a potential early beneficiary from the Trump administration, driven by the promise to replace SEC Chairman Gary Gensler on the very first day in office. This commitment has resonated with cryptocurrency supporters who are frustrated by regulatory uncertainty and has fueled optimism about XRP's recovery.
Since the election, XRP has increased by 12.5%, with investors closely monitoring whether it will retest and break the September high of $0.665. Achieving this milestone would trigger a bullish rally that could push XRP to higher levels. However, the SEC's appeal in the ongoing lawsuit could have significant implications for how XRP's price develops.
Solana continues its upward momentum, rising over 23% in recent days to surpass the important resistance level of $200. Many analysts believe that this altcoin will soar and retest the all-time high of $260 in the coming months. Solana remains one of the best-performing cryptocurrencies in the current bull cycle.
