Ripple ($XRP), Cardano ($ADA), and Stellar ($XLM) continue to pile on the gains

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As a seasoned crypto investor with a decade of experience under my belt, I must say that the current bull market is reminiscent of the wild west, but in a good way. The resurgence of Ripple ($XRP), Cardano ($ADA), and Stellar ($XLM) has brought back memories of the early days when every coin seemed like it could be the next Bitcoin.

As cryptocurrencies persistently soar, it’s worth wondering if Ripple ($XRP), Cardano ($ADA), and Stellar ($XLM) will maintain their rollercoaster trajectories.

For a clearer and more precise representation, let’s focus on the long-term monthly chart of these cryptocurrencies instead of the short-term time frame. This will help us predict potential future paths within this ongoing bull market for each one of them.

$XRP higher high could lead to all-time high

This surge in the value of the XRP pump could represent a final opportunity for a cryptocurrency titan that has yet to fully leverage its potential within fast payment projects. However, these plans have not come to fruition as anticipated. The recent rise seems, at least in part, connected to Gary Gensler’s decision to step down as SEC Chairman, which may mean less regulatory scrutiny for XRP within the U.S. markets.

Without a doubt, the technical aspects show that this month’s candlestick for $XRP has revived this cryptocurrency. Soaring by 178% this month, its price has breached the downward trendline and paused right before reaching the 5.0 Fibonacci level.

To turn around the current downtrend for XRP bulls, it’s crucial that a fresh peak is reached at approximately $1.97, marking a new local high.

All indicators aligned for higher $ADA price

The $ADA’s monthly chart presents a compelling picture. Starting from a robust foundation at $0.34, this monthly candle has breached an unfavorable trendline and surpassed the 0.236 Fibonacci level, but at present, it’s holding steady just below the 0.382 Fibonacci mark.

The higher high has been made though, and it looks like further upside price action is likely (targets are the next Fibonacci levels above). The monthly Stochastic RSI has crossed up, and there is plenty of room for growth in price momentum here. Also, the Relative Strength Index has crossed above the descending trendline. 

Huge 600% rise for $XLM 

In November, the price of XLM skyrocketed by an astounding 600%, but it has since dipped a bit and now hovers slightly below the 0.618 Fibonacci level. For the price to reach new heights, it must first surpass both the 0.618 and 0.786 Fibonacci levels, and then aim for the all-time high of $0.80.

The monthly Stochastic RSI is currently ideal, but we should be cautious because the Relative Strength Index is showing signs of being overbought. A brief period of sideways movement before hitting a new record high might help balance this out. Potential future goals, determined by Fibonacci extensions, are marked on the chart.

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2024-11-27 16:03