The worldwide cryptocurrency market capitalization surged by a formidable 16.3% final week, reaching a file excessive of $3.2 trillion and gaining $430 billion in valuation for the week.
Bitcoin (BTC) led the cost, reaching a brand new all-time excessive above $93,000. Listed here are a few of final week’s different standout performers to look at:
XRP lastly reclaims $1
After underperforming firstly of the market uptrend two weeks in the past, Ripple’s XRP (XRP) staged a formidable solo rally final week, closing with a exceptional 100% acquire and solidifying its place among the many prime performers.
The asset started the week buying and selling beneath the important $0.60 mark, following a dip from a $0.57 excessive days earlier. Nevertheless, it gained momentum amid the market rally, surpassing $0.60 on Nov. 11.
Defying a slowdown within the broader market, XRP continued its upward trajectory, breaking by way of the $1 barrier on Nov. 16 for the primary time in three years. The rally peaked at $1.26 earlier than going through a pullback, although XRP managed to carry above $1, ending the week at $1.12.
Ought to the pullback persist this week, merchants ought to monitor the higher Bollinger Band at $0.9980, as a drop beneath this degree might sign additional downward stress.
XLM rallies 115%
Stellar (XLM), which regularly mirrors XRP’s value actions, delivered an equally spectacular rally final week, recording a staggering 115% surge by the week’s shut.
Nearly all of these positive aspects had been realized on Nov. 16, with XLM posting a 50.95% improve. This upward momentum was triggered by a breakout above the higher boundary of the Keltner Channel on Nov. 15, propelling XLM previous the $0.13 mark.
Nevertheless, the brand new week has seen XLM going through a pointy 12% decline, accompanied by a drop in its RSI, signaling weakening momentum.
Regardless of this, the RSI stays at 75, indicating it’s nonetheless in oversold territory. For now, bulls stay in management so long as XLM holds above the higher Keltner Channel boundary at $0.1693.
LTC knocks at $100
Litecoin (LTC) initially trailed within the broader market uptrend however skilled a major rally final week, breaking by way of the $70 vary. The asset initially spiked to $80 on Nov. 11 earlier than retreating to $71 two days later.
A subsequent restoration pushed LTC above $90 for the primary time since Could, reaching a seven-month excessive of $98 on Nov. 16. Nevertheless, resistance on the important $100 degree halted additional positive aspects.
LTC ended the week with a strong 29% acquire however has since declined by 8.36% within the new week. The rally was partly fueled by a surge in social media mentions, because the Litecoin neighborhood humorously explored a pivot to meme coin standing.
At the moment buying and selling at $87.58, LTC finds quick assist on the 38.2% Fibonacci retracement degree round $85.64. If this degree is breached, the following line of protection lies at $81.57 to stop a drop beneath $80.
On the upside, Litecoin must clear $90.67 to regain bullish momentum.