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Altcoins Rise After Yesterday’s Bloodbath: XRP, ADA, and DOGE Lead the Way
The cryptocurrency market has been experiencing significant volatility in recent times, with yesterday being no exception. However, it appears that altcoins have taken a more resilient approach to this uncertainty. In fact, three notable altcoins – Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) – have led the way in today’s market recovery.
XRP’s Price Surges 11.3% Overnight
It is not uncommon for XRP to be at the forefront of any significant market movement, and yesterday was no exception. In an astonishing turn of events, XRP’s price surged by a staggering 11.3% overnight, following the registration of the first spot XRP ETF in Brazil. This development has bolstered investor confidence, leading many to believe that this could pave the way for further gains.
ADA’s Resilience Continues
Cardano (ADA) has been one of the most resilient altcoins in recent times, and yesterday was no exception. Despite experiencing a 12.5% downtrend over the past week, ADA has shown remarkable resilience by gaining nearly 4% in the past day, trading at $0.6793.
DOGE’s Comeback
Dogecoin (DOGE), the largest meme coin by market cap, has also made a notable comeback. Despite dropping below the 61.8% Fibonacci retracement level, signaling the end of its recent uptrend, DOGE’s popularity and strong community support have helped it bounce back with a nearly 2% gain in the last 24 hours.
Other Coins Report Minimal Gains
While XRP, ADA, and DOGE took center stage, other coins reported minimal gains. Ethereum (ETH) and Binance Coin (BNB) saw an increase of around 0.90-2%, trading at $2,458 and $624 respectively.
Conclusion
Source: https://crypto-economy.com/altcoins-rise-after-yesterdays-bloodbath-xrp-ada-and-doge-lead-the-way/
