This week, we examine Ethereum, Ripple, Cardano, Solana, and Dogecoin in greater detail.

Ethereum (ETH)

Ethereum concludes a strong week with an impressive 21% price increase which brings it above $3,000. Such a rally was not seen in months. This is returning optimism and excitement to the ETH ecosystem after a difficult period since March.

The most important level on this chart is the support at $2,880, which used to act as resistance. Buyers finally managed to break it, and the path is now open for Ethereum to go much higher, with the next key resistance found at $3,350.

Looking ahead, ETH is showing signs of strength that were absent for most of the year. This renewed interest from the market could push it into a sustained rally to challenge the March high of $4,000 and even the all-time high of $4,800 from 2021.

Ripple (XRP)

This is good news for XRP, as its price moved above 54 cents, which is now acting as support. This allowed it to close the week 7% higher. The bullish momentum is not as strong as for Ethereum, but it is picking up thanks to buyers returning.

The buy volume is starting to increase, which could signal that this cryptocurrency may enter a sustained rally that could see it challenge the resistance at 60 cents next.

Looking ahead, XRP is a momentum coin, and sooner or later, its price will aim to catch up with other altcoins that are currently ahead, such as ETH or SOL.

The Cardano community is celebrating a fantastic week after their favorite altcoin rallied by 22%. This performance allowed the price to break above 40 cents, which is the current support.

With buyers back, ADA appears ready to challenge the 50 cents resistance next, which posed some difficulties in the past. However, as long as the overall market remains bullish, this cryptocurrency can enter a sustained recovery.

Looking ahead, Cardano’s downtrend is over, and for the first time since March, buyers are dominating again. Hopefully, this will last for a good while, so the price can return to the levels from early this year.

Solana (SOL)

Solana also had a great week after closing with a 20% price increase. This allowed it to move above $200 for the first time since March. The price action is bullish, and higher levels will likely be in the future. The current support is at $180.

The resistance is found at $206 and may challenge buyers in the coming week. A pullback under this level should not be dismissed.

Looking ahead, Solana needs to move above $206 to maintain the bullish momentum. Any weakness there will provide sellers with an opportunity to take over.

Dogecoin (DOGE)

DOGE is the best performer this week, with a 26% rally. This meme coin is returning to the spotlight, and the price shows it, being just under the 21 cents key resistance.

With buyers jumping back to DOGE, the chart formed a clear bullish pattern that appears just to be starting. As soon as the 21 cents level falls, the price will be clearly at 31 cents, which will be the next key resistance.

Looking ahead, Dogecoin is set to perform well in the coming weeks as attention shifts back to the father of meme coins. The current all-time high is at 74 cents, which is a likely target if DOGE moves above 50 cents later on.

TL;DR

• Real-world asset (RWA) cryptocurrencies have a market cap of over $30 billion, with Chainlink (LINK) leading recent development activity.
• Its price has risen by 16% in the last week, with analysts predicting potential further gains toward targets of $32 to $102.

Here Are the Leaders

Real-world asset (RWA) cryptocurrencies have gained significant traction in the digital asset sector, with a combined market capitalization of almost $32 billion as of November 8, 2024. They represent tokens backed by tangible assets such as real estate, commodities, or art and collectibles. In the following lines, we will focus on the top 10 RWA cryptocurrencies in terms of development activity in the last 30 days.

According to the market intelligence platform Santiment, the first spot belongs to Chainlink (LINK), with a score of 739.6. Its development activity for the aforementioned period has exploded by 14,450%, making it the undisputed leader. 

Syntetix (SNX) and Dusk (DUSK) follow in second and third place, respectively. The former has an index of 254.03, while the latter collected 66.07.

Orachain Token (ORAI) and Sky (SKY) round up the top 5 club, while other well-known cryptocurrencies making the list include Maker (MKR), Polymesh (POLYX), and Centrifuge (CFG).  

Santiment employs the so-called Ecosystem Dev Activity Dashboard to evaluate the exact ratios. It displays how many software development events are created on various blockchains and their associated decentralized applications (dApps).

“These events are carefully filtered and predefined to be representative of real programming progress, meaning no low-value actions are taken into consideration,” the team behind the platform explained.

LINK’s Next Potential Targets

The ranking’s leader has been at the forefront of gains in the past week. LINK’s price has pumped by 16% for that period, currently trading at around $13.20 (per CoinMarketCap’s data).

According to some industry participants, the asset is poised for further increases in the near future. The X user CryptoBullet claimed that both LINK’s price and RSI are “breaking out.” The analyst suggested this could be a catalyst for an explosion toward $38, $59, and eventually $102.

Cephii also outlined a bullish target, albeit less substantial than CryptoBullet’s forecast. The trader suggested that LINK could surge to $32 by January next year.

Bitcoin’s highly positive week continued yesterday as the asset jumped above $77,000 to chart another all-time high before retracing slightly.

However, some of the altcoins have emerged as today’s top performers, including Ethereum, which was relatively sluggish until this week.

BTC’s Latest Peak

The start of the business week was quite underwhelming for the primary cryptocurrency as it dropped below $67,000 on Monday and stood there for most of Tuesday. However, that seems like a lifetime ago now given what transpired in the following days.

Once Donald Trump’s lead in the US presidential elections started to grow on Wednesday morning, BTC’s price went on the run and skyrocketed by eight grand to a fresh all-time high of over $75,000. The bulls kept the gas pedal pressed, and bitcoin soared to $77,000 on Thursday when the US Federal Reserve announced another rate cut.

Friday was initially less volatile as BTC stood around $76,000, but it jumped once again in the evening to $77,240 to mark its latest peak. Despite retracing to $76,500 now, bitcoin is still up by 10% on a weekly scale and more than 25% in the past month.

Its market capitalization now stands well above $1.5 trillion, making it the ninth-largest global financial asset. Its dominance over the altcoins, though, has been reduced to 55.5% after peaking at 57%.

Alts Reemerge

Bitcoin led the pack in terms of gains mid-week, but the landscape has changed now, and many altcoins have marked impressive gains. Ethereum is among those, having awakened earlier this week. ETH has gained over 4% in the past day and 21% on a weekly scale. It now trades above $3,000 for the first time in more than three months.

Binance Coin, which lost its spot as the fourth-largest cryptocurrency to Solana earlier this week, has soared by 6% and now trades at $630. Avalanche, Chainlink, and NEAR Protocol are the other notable gainers from the larger-cap alts.

The total crypto market cap has added around $50 billion now and is up to $2.730 trillion on CG.