XRP, ADA, XLM Price Analysis: Altcoin Market Pauses from Historic Runs as Trader Enthusiasm Diminishes

Recently, Ripple's XRP, Cardano (ADA), and Stellar (XLM) posted impressive monthly gains of 416%, 473%, and 263%, respectively.

Altcoins Slow Down on Historic Runs, but Analysts Expect More Rally

After a historic run in the past 30 days, with triple-digit gains posted by Ripple’s XRP, Cardano (ADA), and Stellar (XLM), the altcoin market seems to be taking a pause as trader enthusiasm diminishes.

However, XRP price continues to lead the rally, reaching a price of $2.57 with a 6.16% intraday gain and surging past Tether to claim the third spot on CoinMarketCap. Meanwhile, XLM price is up at $0.55, while ADA price trades at $1.22, showing a 10% increase.

Despite the slowdown, analysts believe that the rally is far from over, with key indicators suggesting a continuation of the uptrend.

According to blockchain analytics firm Santiment, the silence toward the top caps is a good sign, indicating that FOMO (fear of missing out) may not be interfering with any further climbs.

However, XRP price’s stellar 416% monthly surge has driven its Relative Strength Index to 88, indicating an overbought condition, which could lead to a short-term pullback.

Here's a closer look at the price performance of XRP, XLM, and ADA.

XRP Price Analysis: Out in Front with Potential to Climb Higher

Ripple’s XRP has been out in front of performers, reaching its price with a bullish breakout over the resistance level of $1.63. In today’s trade, XRP price stands at $2.57 with an intraday profit of 6.16%, and the market capitalization has risen to $146.57 billion, displacing Tether and ranking third on CoinMarketCap.

The rally came after XRP broke out of a pennant pattern on November 27, driving a 16.8% surge and turning prior resistance into support. Analysts suggest a further rally may be on the horizon, with the Fibonacci extension tool indicating a potential climb to $3, a 17% gain from current levels. Meanwhile, a longer-term projection places XRP at $2.40 by the end of 2024.

XLM Price Analysis: Bullish Pennant Formation Continues

Stellar (XLM) price is still sporting a bullish pennant formation. Technical formations that appear as continuation patterns may offer an easy route to a breakout when they have significant volumes accompanying them. The asset has seen its price stay above all the critical levels, from its 50-week Exponential Moving Averages (EMAs) to its 200-week EMAs and the psychological $0.50 mark.

Despite a 15% decline from the peak reached in November, XLM has strong market fundamentals. Its MVRV ratio is 2.7, which is above this year’s lows but far below the peak of 6 in 2021. If the bullish pennant is confirmed, XLM may resume its upward trajectory and test previous highs while even moving further to $1.

ADA Price Analysis: Surging Past $1, but Skepticism Remains

Cardano has been another star performer recently, breaking the $1 mark and attracting significant investor interest. Currently trading at $1.22, ADA experienced a 10% increase over the past 24 hours. Today, Cardano climbed from a low of $1.10 to a high of $1.32.

Bullish momentum puts ADA near critical resistance at $1.30. A break above this level could send the crypto all the way up to $2, but the curveballs could follow immediately. ADA’s RSI is already up at 81, so the overbought could trigger a correction.

Thus, analysts continue to express skepticism regarding the extremely speculative reports indicating a 230% rally by December. A fall below the $1.10 support level would indicate bearish momentum. Further declines may push the price down to $0.88 for a 20% correction from the current levels.