XRP Finally Reclaims $1 as XLM Rallies 115%, LTC Knocks at $100

The global cryptocurrency market capitalization surged by an impressive 16.3% last week, reaching a record high of $3.2 trillion and gaining $430 billion in valuation for the week.

Bitcoin (BTC) price led the cryptocurrency market to a record high last week as several altcoins, including XRP (XRP), Stellar (XLM), Litecoin (LTC) and Chainlink (LINK), also posted impressive gains.

Here's a closer look at some of last week’s standout performers:

XRP finally reclaims $1

After lagging behind at the start of the market uptrend two weeks ago, Ripple's XRP staged an impressive solo rally last week, surging by 100% to solidify its place among the top performers.

The asset began the week trading below the crucial $0.60 mark after declining from a high of $0.57 days earlier. However, it picked up steam amid the broader market rally, crossing $0.60 on Nov. 11.

While the broader market slowed down, XRP continued to rise, breaking through the $1 barrier on Nov. 16 for the first time in three years. The rally peaked at $1.26 before facing a pullback, although XRP managed to hold above $1, ending the week at $1.12.

If the pullback continues this week, traders should watch for the upper Bollinger Band at $0.9980, as a drop below this level could indicate further downward pressure.

XLM rallies 115%

Stellar's native token, XLM, which often follows XRP's price movements, also saw a remarkable rally last week, surging by 115% by the week's close.

Most of these gains came 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, pushing XLM past the $0.13 mark.

However, the new week saw XLM sharply declining by 12%, accompanied by a drop in its RSI, signaling weaker momentum.

Despite this, the RSI is still at 75, indicating that it's in overbought territory. For now, the bulls are in control as long as XLM holds above the upper Keltner Channel boundary at $0.1693.

LTC knocks at $100

Litecoin initially lagged in the broader market uptrend but saw a significant rally last week, breaking through the $70 range. The asset first spiked to $80 on Nov. 11 before pulling back 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. However, resistance at the critical $100 level prevented further gains.

LTC ended the week with a 29% gain but has since declined by 8.36% in the new week. The rally was partly driven by a surge in social media mentions, as the Litecoin community jokingly discussed a pivot to meme coin status.

Due to current market conditions I now identify as a memecoin.

LTC is currently trading at $87.58, finding immediate support at the 38.2% Fibonacci retracement level around $85.64. If this level is breached, the next line of defense lies at $81.57 to prevent a drop below $80.

On the upside, Litecoin needs to clear $90.67 to regain bullish momentum.

The above is the detailed content of XRP Finally Reclaims $1 as XLM Rallies 115%, LTC Knocks at $100. For more information, please follow other related articles on the PHP Chinese website!