The post Top Altcoins—Cardano, XRP, and BlockDAG: Whale Transactions and Elections Drive Crypto Market Optimism appeared on BitcoinEthereumNews.com.

As Cardano and XRP build momentum in the market, BlockDAG (BDAG) emerges, transforming expectations from crypto presales. This week, Cardano spiked 76%, supported by $11.5 billion in whale transactions, signaling a renewed interest. Meanwhile, XRP’s 22% increase after the election reflects a consistent pattern of growth during U.S. election cycles, indicating potential upcoming gains. However, BlockDAG’s presale has outperformed these achievements, amassing over $122 million swiftly and achieving a 2240% return from its initial stages. With DAG-PoW hybrid technology for efficient, scalable transactions, BlockDAG’s recent testnet has introduced NFT minting, staking, and more. Its advanced technology and high return potential set it apart from well-established contenders like ADA and XRP in the 2024 market. Cardano Climbs 76% as Whales Engage, Yet Signals Caution This week, Cardano has surged 76%, ending a three-month flat period and drawing whales back into the market, with about $11.5 billion traded over five days—its highest since May. This suggests a growing trust in Cardano’s value as large players reengage, potentially steadying its price path. However, caution is advised by technical indicators. The Relative Strength Index (RSI) for Cardano is now in the overbought zone, typically preceding short-term declines. If ADA fails to maintain its $0.54 support, a downturn to $0.46 might occur should the momentum decrease. Conversely, a rise above $0.59 could signal further increases, marking a crucial juncture for evaluating Cardano’s future.  Potential for a Major XRP Rally? Post-U.S. election, XRP seems set for a significant movement, continuing its pattern of forming symmetrical triangles before elections, then experiencing strong surges. This trend started post-2016 election, leading to an unprecedented rise of 60,000% to its highest value of $3.31 in 2017. With the election of pro-crypto candidate Donald Trump, the outlook for digital currencies has turned favorable. Analyst Mikkybull points to a possible surge for…

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Filed under: News - @ November 16, 2024 5:24 pm