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
Currently, XRP has a market cap of $164 billion, after gaining more than $20 billion in just 24 hours. According to our market data, the asset has seen a 24-hour gain of 8%, bringing its price to $2.8. Interestingly, analyst Dark Defender estimates 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 have 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. Furthermore, analysts believe that the possible approval of the spot XRP Exchange Traded Funds (ETF) could accelerate this movement. As previously featured by CNF, the XRP ETF has the potential to attract $8 billion in investments.
DOGE
DOGE currently has a market cap of $53 billion and is priced at $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. According to Marks, DOGE had a 90x increase during the 2017 cycle and a staggering 306x increase during the 2021 cycle. If it successfully reaches this significant level, the market cap could surpass $1 trillion. At the moment, DOGE’s Open Interest has decreased from $4.07 billion to $3.29 billion, according to a CNF report.
ADA
Cardano (ADA) currently has a market cap of $36 billion and is trading at $1. In the last 24 hours, this 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. He explained that the asset was experiencing 180 days of downside. Mathematically, reaching this predicted level would position the market cap above $1 trillion.
XLM
XLM is currently the 12th largest cryptocurrency by market cap, with a valuation of $14 billion. According to our market data, XLM has experienced a significant surge in the last 24 hours, with a 9% increase, bringing its price to $0.46. Analysts expect the price to reach a significant level after surpassing the psychological mark of $0.50, as reported by CNF. Meanwhile, the Stellar Development Foundation has been expanding its ecosystem, with active addresses surpassing 9 million in the third quarter of 2024.