This week, we examine Ripple, Cardano, Optimism, Solana, and Dogecoin in greater detail.
Ripple (XRP)
XRP just had one of the best months in years, and its price increased by 74% this week alone, bringing it close to $1.5. In the last bull market, XRP reached almost $2 before sellers took over the price action.
The current all-time high is $3.3, which could signal that this cryptocurrency has plenty of room to run. Buyers will have to break above $1.6 and $2 before they can hope to aim for $3 or more.
Looking ahead, XRP’s rally continues to show strength, and its first real test will be around $2. Either way, a significant pullback should be expected later on, considering the price has only been going up for some time now.
Cardano (ADA)
Cardano is inching closer to $1 after closing another fantastic week with a 47% price increase. This has revived the ADA community, which has been patiently waiting for this rally since earlier this year.
The price found good support, around 80 cents, and is challenging the 90 cents resistance at the time of this post. If broken, ADA may rush to $1, which could bring back sellers looking to secure profits.
Looking ahead, buyers have a good chance to continue to dominate in the future, especially because the price has risen higher this week. The current ADA all-time high is at $3.1, which should allow market participants plenty of space to speculate on this coin.
Optimism broke above $2, which was a key resistance, and the price is up by 34% this week. This strong performance is a major signal to the market that OP is ready for higher levels after it just left its long consolidation since June 2024.
With good support at $2, this cryptocurrency can now aim higher, with key targets at $2.5 and $3. If the rally continues at this intensity, those levels could be hit by next week.
Looking ahead, ETH Layer-2 networks like Optimism are performing because Ethereum has awakened this week. As long as Ethereum performs, OP should also do well.
Solana (SOL)
Solana just made an all-time high this week at $264 and has returned to price levels not seen since 2021. It also increased by 22%, which makes it the strongest performer in the top 10 after XRP and ADA.
At the time of this post, the price entered a pullback after its new record, with sellers possibly taking some profits at these historic levels. Once this subsides, SOL could enter price discovery similar to Bitcoin.
Looking ahead, Solana has good support at $240 should the selling intensify. However, this uptrend is expected to resume, and this cryptocurrency will make new price records in the weeks to come. A key target right now would be $300.
Dogecoin (DOGE)
Dogecoin appears to be preparing its next major move and closed the week with a 6% price increase. This meme coin has been consolidating under 40 cents, which currently acts as key resistance. Once broken and turned into support, DOGE can aim for much higher levels.
If the resistance is broken, the next key targets on the chart will be 48 and 59 cents. Momentum continues to favor buyers, and a breakout could happen at any moment.
Looking ahead, DOGE could aim to hit its all-time high at 74 cents, which is not so far away considering the price has tripled in November.
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Cryptocurrency charts by TradingView.
