The CoinMarketCap’s Altcoin Index has increased to 47/100, which is two points higher than the 45/100 recorded on January 13, 2024. As we reported yesterday, several assets, including XRP, DOGE, ADA, and XLM, are expected to reach a valuation of $1 trillion for the first time.
XRP
XRP currently has a market cap of $164 billion, with an increase of over $20 billion in just 24 hours. According to our market data, the asset has experienced a 24-hour gain of 8%, bringing its price to $2.8. Interestingly, analyst Dark Defender has predicted that the asset could reach $18 by mid-2025. This could potentially push its market cap above $1 trillion. Assessing Ali Martinez’s thesis, we also found that the current movement of XRP is considered “one of the most bullish scenarios” in the crypto market. According to Martinez, the rally to $2.8 is a result of the asset reaching the upper boundary of an isometric triangle. Analysts believe that this movement could be further accelerated by the potential approval of the spot XRP Exchange Traded Funds (ETF). As previously featured by CNF, the XRP ETF could attract $8 billion in investments.
DOGE
At the time of writing, DOGE has a market cap of $53 billion, with a price of $0.352. In the last 24 hours, the meme coin has experienced a decline of 0.47%. However, analyst Javon Marks expects an explosive rebound to $20. Marks points out that DOGE achieved a 90x increase in the 2017 cycle and an impressive 306x increase in the 2021 cycle. If it reaches this significant level, the market cap could surpass $1 trillion. Currently, DOGE’s Open Interest has decreased from $4.07 billion to $3.29 billion, according to a CNF report.
ADA
Cardano (ADA) has a market cap of $36 billion and is currently trading at $1. In the last 24 hours, the asset has surged by 3%, bringing its 90-day gains to 192%. According to crypto analyst Dan Gambardello, ADA could break key resistance levels and reach $31. Gambardello previously explained that the asset was experiencing 180 days of downside. If it reaches this predicted level, the market cap could exceed $1 trillion.
XLM
XLM is currently the 12th largest cryptocurrency by market cap, with a valuation of $14 billion. Our market data shows that XLM has experienced a significant surge of 9% in the last 24 hours, trading at $0.46. Analysts expect the price to reach a significant level after surpassing the psychological mark of $0.50, according to a CNF report. Meanwhile, the Stellar Development Foundation has been expanding its ecosystem, with active addresses surpassing 9 million in the third quarter of 2024.