XRP, BONK See Biggest Rallies in Years as Altcoin Season Heats Up

As the effects of the 2024 elections continue to ripple, there are signs that the bull market is heading into overdrive.

As the dust settles from the 2024 elections, there are signs that the bull market is about to accelerate.

With Bitcoin showing signs of stabilizing, many are predicting an altcoin season. This bodes well for Ripple (XRP) and BONK, both of which recently received a major boost from a key market. Cutoshi ($CUTO), a viral meme coin, is also poised to capitalize on these developments.

Ripple (XRP) Sees Biggest Gain in Years

XRP has experienced an impressive rally in the past week, marking the biggest surge in years and coming amid a broader bull market and surge in trading volumes in key markets. XRP has risen over 150% in the past month and is currently trading at $1.40. This marks a significant recovery, with XRP reaching its highest level since December.

Besides the boost from the crypto market rally following the US elections, XRP gained a major boost from higher trading volumes. Notably, recent data showed that trading volumes for DOGE and XRP surpassed those for Bitcoin in South Korea, a key market. DOGE and XRP together accounted for 30% of trading volumes on Upbit, which is unusually high for the tokens.

Moreover, XRP technicals are showing signs of strength and traders are optimistic about the token. Both the weekly and monthly XRP technicals indicate a strong buy, with moving averages showing particular strength. This led CoinDesk analyst Omkar Godbole to predict that XRP is likely to continue its rally in the near future.

The analyst noted that XRP had its biggest rally in three years and is holding steady above $1. He added that key resistances now lie at $1.26 and $1.50, echoing a similar price action in September 2021.

Bonk Surges to All-Time High After Major Listing

Solana-based meme coin Bonk also experienced a massive rally. Notably, just like XRP, Bonk received a major boost from the election but also from South Korea. The token hit its all-time high of $0.0000569 on Monday, November 20, marking its first major rally since June. Bonk has more than doubled since the start of the month, registering a 117.37% price surge.

What’s likely behind this strong performance is BONK’s listing on a major South Korean exchange. On Monday, Upbit, the largest crypto exchange in South Korea, listed Bonk. This news is particularly significant given that South Korean exchanges are hesitant to list smaller tokens and meme coins.

신규 디지털 자산 봉크(BONK) 거래지원 안내✅ 지원 마켓: KRW 마켓📅 거래지원 개시 시점: 2024-11-20 12:30 예정🔗 공지 바로가기:https://t.co/r2DhwVlJcO#Upbit #BONK pic.twitter.com/vSTAAG5cLv

But what sets Bonk apart is the fact that it is the largest meme coin on Solana, having previously partnered with the Solana Foundation. Its position in the ecosystem suggests that it has strong potential for growth.

Cutoshi (CUTO) Raises $1,000,000 For DeFi Innovation

Traders are increasingly seeking out small-cap tokens in search of high-reward opportunities amid signs that the altcoin season is approaching, as evidenced by the performance of Ripple and Bonk. Recently, a memeFi token called Cutoshi managed to attract over $1,000,000 in investments.

The combination of memes and DeFi utility is proving to be attractive to traders. While its mascot is the Chinese Lucky Cat, Cutoshi is inspired by Bitcoin creator Satoshi Nakamoto. It values decentralization and privacy and is therefore developing a fully decentralized DeFi ecosystem.

The first stage of this process will involve the creation of a multichain DEX, making it easier for anyone to send tokens and trade. Anyone from anywhere can join the decentralized exchange without fear of being blocked by the exchange.

As traders place increasing emphasis on decentralization and custody, Cutoshi, which is designed to be fully community-owned and operated, could attract even more attention.

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