Trump’s Election Victory Fuels ADA, XRP, and SOL Gains

Donald Trump’s election win has triggered a wave of bullish trend in the crypto market, driving significant gains across multiple digital assets. Notable movers include Cardano (ADA), XRP, and Solana (SOL), with each showing distinct price dynamics over the past few days.

ADA has climbed nearly 40% since Trump’s victory on November 5, rising from $0.333 on November 6 to $0.459 within two days. This rally broke several resistance levels, shifting sentiment from neutral to bullish and opening doors to higher targets.

Notably, Cardano’s expanding DeFi network has further fueled optimism, positioning the blockchain for increased adoption. ADA recently retested the $0.45 resistance. A breakout above this level could push the token toward $0.48, potentially reclaiming its Q1 2024 highs when it reached $0.81 in March.

Read also: Cardano Price Prediction 2024-2030: Will ADA Reach $1 Soon?

XRP has emerged as a potential early beneficiary of Trump’s administration, driven by promises to replace SEC Chair Gary Gensler on day one in office. This pledge has resonated with crypto advocates frustrated by regulatory uncertainty and has boosted optimism for XRP’s recovery.

Since the election, XRP has surged 12.5%, with investors closely monitoring whether it will retest and break its September high of $0.665. Achieving this feat would trigger a bullish run that could see XRP reach higher levels. However, the SEC’s appeal in the ongoing case could be significant in how XRP’s price develops.

Solana has continued its upward trajectory, gaining over 23% in recent days to climb above the key $200 resistance. Many analysts believe the altcoin will surge and retest the all-time high of $260 in the coming months. Solana remains one of the best-performing cryptos in the current bull cycle.