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coinpedia 2024-12-03 09:25:25

Altcoins Surge 600%: Is This the Calm Before the Next Explosion?

Altcoins Surge 600%: Is This the Calm Before the Next Explosion?

The post Altcoins Surge 600%: Is This the Calm Before the Next Explosion? appeared first on Coinpedia Fintech News The crypto market’s been on fire lately, right? Since November 5, when Bitcoin kicked off its rally during the US elections, it’s been a wild ride. But what’s really interesting isn’t just Bitcoin—Ripple’s XRP, Cardano (ADA), and Stellar (XLM) have been climbing fast, too. The total market cap hit a whopping $3.48 trillion, leaving investors thinking, “Wait, could this rally keep going?” Let’s dive in and take a closer look at what’s happening with these altcoins. XRP’s Back—But Can It Keep Climbing? XRP is on a roll. It’s up a huge 467% since November 5, jumping all the way to $2.87, a price we haven’t seen since January 2018. While it’s still 31% below its all-time high, this is a major comeback. The token has been making waves, with a 17.64% price increase in the last 24 hours and trading volume surging by 36.12%. It’s even back to being the #3 cryptocurrency on CoinMarketCap. But here’s the thing—XRP might still have some room to grow. Could it eventually break its all-time high? Time will tell, but altcoins’ rally is definitely one to watch. ADA and XLM: Not Far Behind Cardano (ADA) has also been turning heads, rising 307% to $1.32 since early November. The latest stats show 79% of ADA holders are making a profit, though it’s still 59% below its ATH of $3.10. But, hey, Cardano’s fundamentals are strong, and that’s why investors are still excited about this crypto. Then there’s Stellar (XLM), which has really stolen the show with a 607% surge since November 5. The price is still 42% below its ATH, but a 27% increase in trading volume in just 24 hours shows that people are paying attention. What’s Next? So, after all these huge gains, the crypto market’s taking a bit of a breather. A lot of investors are locking in profits, which has led to a bit of stagnation. It’s easy to think the rally might be over, but historically, this is just the market cooling off before it can take off again. Santiment , through a post on X, shared that trader fatigue is starting to set in, and retail activity is slowing down. This isn’t necessarily a bad thing, though. It could be a sign that FOMO (fear of missing out) is out of the picture, which means more room for growth. Markets tend to surprise us, and sometimes, the quiet phases are the setup for the next big move. So, what’s going to happen next? It’s hard to say for sure, but the crypto world is unpredictable. Get ready, because this might just be the calm before another storm of gains for altcoins.

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