Why XLM and XRP Prices Are Up Today?

The post Why XLM and XRP Prices Are Up Today? appeared first on Coinpedia Fintech News

The altcoin industry – led by Ripple Labs’ XRP and Cardano (ADA) – has experienced a mild rebound as the global markets re-open for 2025. As Bitcoin (BTC) price gained around 2 percent in the last 24 hours to trade about $95,323 on Thursday, January 2, during the early European session, the TOTAL3, which excludes Ethereum (ETH) and BTC, added over $13 billion to hover about $985 billion.

From a technical analysis standpoint, the altcoin industry is preparing for a major uproar in the near term after closing 2024 with a bullish outlook. Moreover, the fundamental outlook for the entire cryptocurrency industry remains extremely bullish following the re-election of Donald Trump to the White House.

Additionally, more institutional investors are doubling down their funds to the web3 space to benefit from the ongoing macro bull run.

Midterm Targets for Cardano and Ripple’s XRP

ADA

Cardano network, a top-tier layer one blockchain, has significantly benefited from its constant chain upgrades and strategic partnerships. Through the recent Chang hard fork, the Cardano network has achieved improved functionality and enhanced decentralized governance.

Consequently, ADA price has led other large-cap altcoins in a bullish outlook in the past few months. After closing the fourth quarter of 2024 with over 140 percent growth, ADA price has opened 2025 with a bullish outlook. 

In the past 24 hours, ADA price rallied over 8 percent to trade about 92 cents at the time of this writing. However, in the daily time frame, ADA price must rally above the 50 Moving Average (MA) and consistently close above the falling logarithmic trend to invalidate the previous correction. 

XRP

Ripple Labs’ XRP has been in the limelight in the past few months following the nomination of a pro-crypto US SEC chair Paul Atkins to replace the outgoing Gary Gensler. The large-cap altcoin, with a fully diluted valuation of about $236 billion and a 24-hour average traded volume of around $10 billion, gained over 10 percent in the past 24 hours to trade at about $2.35 at the time of this writing.

According to crypto analyst Captain Faibik, XRP price is on the cusp of another 50 percent rally towards a new all-time high of about $3.66. However, the XRP price must break out from a descending triangular pattern to confirm the bullish outlook in the near term.