XRP, XLM, LTC: Top Cryptocurrencies to Watch This Week – Analysis and Predictions
The global cryptocurrency market capitalization has surged by 16.3% last week, reaching a record high of $3.2 trillion. In this article, we will analyze the top performers of last week, including XRP, XLM, and LTC, and provide our predictions for the coming week.
XRP Analysis
XRP staged an impressive solo rally last week, closing with a remarkable 100% gain and solidifying its position among the top performers. After underperforming at the start of the market uptrend two weeks ago, XRP began the week trading below the critical $0.60 mark. However, it gained momentum amid the market rally, surpassing $0.60 on Nov. 11 and breaking through the $1 barrier on Nov. 16 for the first time in three years.
XRP’s rally peaked at $1.26 before facing a pullback, though it managed to hold above $1, ending the week at $1.12. Should the pullback persist this week, traders should monitor the upper Bollinger Band at $0.9980, as a drop below this level could signal further downward pressure.
Prediction: We expect XRP to continue its upward trajectory, with a potential target of $1.50 in the coming week.
XLM Analysis
Stellar (XLM) delivered an equally impressive rally last week, recording a staggering 115% surge by the week’s close. The majority of these gains were realized on Nov. 16, with XLM posting a 50.95% increase. This upward momentum was triggered by a breakout above the upper boundary of the Keltner Channel on Nov. 15, propelling XLM past the $0.13 mark.
However, the new week has seen XLM facing a sharp 12% decline, accompanied by a drop in its RSI, signaling weakening momentum. Despite this, the RSI remains at 75, indicating it is still in oversold territory. For now, bulls remain in control as long as XLM holds above the upper Keltner Channel boundary at $0.1693.
Prediction: We expect XLM to consolidate its gains and potentially retest the $0.13 level in the coming week.
LTC Analysis
LTC initially trailed in the broader market uptrend but experienced a significant rally last week, breaking through the $70 range. The asset initially spiked to $80 on Nov. 11 before retreating to $71 two days later. A subsequent recovery pushed LTC above $90 for the first time since May, reaching a seven-month high of $98 on Nov. 16.
LTC ended the week with a solid 29% gain but has since declined by 8.36% in the new week. The rally was partly fueled by a surge in social media mentions, as the Litecoin community humorously explored a pivot to meme coin status.
Prediction: We expect LTC to consolidate its gains and potentially retest the $90 level in the coming week.
Conclusion
In conclusion, XRP, XLM, and LTC are the top cryptocurrencies to watch this week. While XRP and XLM have shown impressive gains, LTC has also experienced a significant rally. We expect these assets to continue their upward trajectory, with potential targets of $1.50 for XRP, consolidation around $0.13 for XLM, and retesting the $90 level for LTC.
As always, please keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. It’s essential to do your own research and consider your risk tolerance before making any investment decisions.
