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 seen 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 projection could potentially push the market cap above $1 trillion.
Assessing Ali Martinez’s analysis, 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 moving towards the upper boundary of an isometric triangle. Additionally, analysts believe that the possible approval of the spot XRP Exchange Traded Funds (ETF) could further 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, 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 a significant rebound to $20. Marks points out that DOGE had a 90x increase in the 2017 cycle and a staggering 306x increase in the 2021 cycle. If DOGE reaches this significant level, its market cap could potentially exceed $1 trillion. In the meantime, 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, the asset has surged by 3%, bringing its 90-day gains to 192%. Popular crypto analyst Dan Gambardello predicts that ADA could break key resistance levels and reach $31. Gambardello previously explained that the asset had experienced 180 days of downside. Mathematically, reaching this projected 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 been one of the biggest gainers in the last 24 hours, with a surge of 9% to trade at $0.46. Analysts expect the price to reach a significant level once it surpasses the psychological mark of $0.50, according to a CNF report. Meanwhile, the Stellar Development Foundation has been expanding its ecosystem, as its active addresses surpassed 9 million in the third quarter of 2024.