2 Cryptos Set to Enter the $100B ‘Elite Club’ After XRP
The post 2 Cryptos Set to Enter the $100B ‘Elite Club’ After XRP appeared first on Coinpedia Fintech News
XRP’s price marked a milestone rise that ignited in the first week of November and elevated its market capitalisation from around $30 billion to as high as $135 billion. This move also temporarily surpassed the market cap of Tether, becoming the third largest token after Bitcoin & Ethereum. Currently, the top stablecoin has reclaimed its level back, but the XRP price has maintained its $100B mark. Similar to this token, another two tokens are all set to enter the elite club, as the tokens are on the edge of a massive explosion.
Dogecoin (DOGE)
The Dogecoin price has witnessed a massive rally in the past 30 days that elevated the price levels from the consolidation below $0.1 to levels above $0.45. The 350% jump in its value and a 1000% rise in the trading volume suggest the bulls have entered the ring. This move also increased the market capitalisation of the token from less than a billion to as high as $68.78 billion. However, the token remains at the edge of a major explosion and hence the upcoming rally may push the token into the $100B elite club.
As seen in the above chart, the DOGE price is primed for a similar upswing that it experienced in the last 30 days. Meanwhile, the volume has contracted, compelling the price to hover within a narrow range while sustaining the gains. Soon after the BTC price kicks out of consolidation, the DOGE price is expected to break the resistance of the rising parallel channel. Besides, the MACD suggests a continuation of the prevailing consolidation, while the bullish divergence in RSI offers some hope.
Therefore, the price is expected to rise and remain consolidated along the average bands until the market breaks out. The upcoming move may not only make Dogecoin a $100B asset but also help the price achieve the $1 milestone.
Cardano (ADA)
Cardano has always been mesmerized by its price rise, while the token was expected to be dead. After falling from the highs after the 2018 bull run, the price consolidated and triggered a gigantic bull run much before the other tokens in the market in Q1 2021. Interestingly, the token marked its peak in August 2021 above $3, followed by a huge bear market much before the market was triggered. Currently, the price is repeating the previous pattern and if the same outcome materializes, then the ADA price may rise close to a double-digit figure.
The monthly chart of Cardano suggests the token is revving a previous pattern. The price is stuck within a range after a notable rise, similar to what occurred in Q4 2020, which triggered over 1700% rise after a breakout. The supertrend has flipped to bullish again after January 2021 and RSI has also marched a rise to the overbought zone for the first time after the previous bull run. However, the dropped volume could be a matter of concern; if the ADA price managed to hold the support, then the token could validate a strong bull run.
This move may enable the third-generation token Cardano to achieve the $100B market capitalization, which could push the price close to $10.
