thenewscrypto.com
- $XDC has risen by nearly 20% in a day, climbing from $0.07807 to an intraday high of $0.0933.
- The $XDC Network’s partnership with ArchaX, focused on RWA tokenization, has significantly boosted its recent price surge.
After a brief bleeding day, the cryptocurrency market opened the trading window with some green. Following a day of dips, Bitcoin (BTC) climbed back into the $98K zone earlier today during Asian trading hours. Other leading altcoins—including Ripple’s XRP, Solana (SOL), TRON (TRX), and Toncoin (TON)—saw a mix of gains and dips as the overall market Fear & Greed Index stood at 73 (Greed), as per CMC data.
Among the many altcoins, $XDC Network ($XDC) emerged as the sole top gainer, displaying a maximum surge of nearly 20% in the past 24 hours.
$XDC, which had been trading at a low of $0.07807, soared to an intraday high of $0.0933—a 209% increase over the past month. Additionally, the token’s daily trading volume also saw a notable rise of 9.15%, reaching $65.76 million.
$XDC’s Bullish Momentum and Price Outlook
$XDC began its significant bullish run on December 6 following the announcement of a partnership between the $XDC Network and ArchaX platform to focus on RWA tokenization and development. ArchaX is one of the digital securities exchange platforms regulated by the UK’s FCA.
Since then, $XDC surged more than 54% and recorded a yearly high of $0.1064 on Dec 7. At present, the altcoin is priced at $0.09242 with a market cap of $1.38 billion. Zooming in since the start of 2024, the crypto has seen a 90.67% rally from the bottom of the $0.02.
Analyzing the above $XDC/USDT pair, the cryptocurrency is trading within an ascending channel, signaling a bullish trend with higher highs and lows. With the RSI at 60, $XDC shows strong bullish momentum and is not yet overbought, suggesting room for potential upside.
Also, the MACD is above the signal line, confirming that the altcoin is in a strong bullish phase.
Looking ahead, the four-hour price chart of $XDC reveals the nearby resistance at $0.099. More gains could propel the asset to maintain its position in the bullish zone. If the crypto continues to gain momentum, the crucial threshold might be at the $0.11 to $0.13 mark.
However, a slight bearish pressure was seen in the CMF indicator, hinting that the asset may pose risks, potentially pulling the $XDC price back to around $0.059 in the event of a correction. A steady breakdown from this level will likely trigger a steep downward correction toward its previous low in the $0.032 range.