XRP, XDC, and VIRTUAL: Analyzing the Factors Driving the Impressive Growth of These Trending Altcoins

Cryptocurrency prices soared on March 8th, adding $100 billion to the total market capitalization. This surge was driven by renewed bullish sentiment among altcoins, leading to significant gains across various cryptocurrencies.

However, three altcoins stood out for unique reasons. BeInCrypto has analyzed these trending altcoins to uncover the factors driving their impressive growth.

XRP Surges 12% on March 8th

XRP price surged by 12% on March 8th, pushing the altcoin to a month-and-a-half high as it successfully breached the critical $2.73 barrier. This upward momentum reflects growing confidence among investors and has sparked fresh interest in cryptocurrency.

The rally was fueled by positive sentiment surrounding the upcoming SEC appeal of a prior ruling in XRP’s favor. The recent Coinbase victory against the SEC has bolstered market optimism, providing a supportive backdrop for XRP’s price recovery and future growth.

XRP is now eyeing the next resistance level at $2.84. Breaching this barrier could solidify the bullish momentum and set the stage for further upward movement, reinforcing investor confidence in the token.

On the downside, a failure to sustain support above $2.73 could force XRP back into a consolidation range between $2.18 and $2.73, delaying its recovery. A loss of this level might push the price to $1.94.

XDC Price Surges 21%

XDC price has soared by 21% in the past 24 hours, earning its place as the best-performing asset of the day. This surge has also made it one of the most trending tokens, drawing attention from both retail and institutional investors.

Currently trading at $0.122, XDC is eyeing the next resistance level at $0.127. Breaching this barrier could solidify the bullish momentum and set the stage for further upward movement, reinforcing investor confidence in the token.

However, the bullish outlook would be invalidated if XDC falls below the $0.117 support level. A decline could push the price to $0.108, with further losses potentially driving it down to $0.097, erasing recent gains and dampening optimism.

VIRTUAL Price Up 11%

VIRTUAL price noted an 11% rise over the past 24 hours, marking a key shift. This upward movement invalidated the persistent downtrend that has dominated its price action since the beginning of the year, signaling a potential trend reversal.

The Virtuals Protocol has been gaining attention due to the recent success of its AI Agent token, AIXBT, which achieved a new all-time high. If this passive bullish sentiment persists, VIRTUAL could reclaim the critical $3.26 support level, setting the stage for further price recovery.

Reclaiming $3.26 as support could propel VIRTUAL toward its all-time high of $5.25. However, if the attempt to breach $3.26 fails, the altcoin risks falling back to $2.27. Such a decline would invalidate the bullish outlook and reintroduce bearish pressure.