Current Status of Altcoins: Price Analysis of Dogecoin, XRP, SOL, ADA

While the altcoin rally is taking place in the cryptocurrency market, Dogecoin (DOGE) has remarkably risen to a leading position. The popular meme coin has outperformed XRP, Solana (SOL), and Cardano (ADA), which recorded impressive price increases in the last 24 hours.

Dogecoin Leads the Altcoin Rally

At the time of writing, Dogecoin is trading at $0.3494, representing a 10.04% increase. Investor interest in DOGE continues to grow. The trading volume has also increased by 45%, reaching $3.68 billion. DOGE has recovered from a low of $0.3114 to showcase its current price performance.

The current price rally in DOGE is said to be linked to the long positions of investors on Binance.

XRP has also recorded an increase, but it was not as impressive as DOGE. XRP reached $2.56 with an 8.15% increase. The trading volume of XRP rose by 12% to $8.78 billion. This indicates a break from the volatile price movements that XRP has struggled to exceed the $2.40 level for the past 30 days.

Investors expect XRP to rise to higher levels thanks to the expansion and performance of the RLUSD stablecoin. According to current data, if XRP maintains its upward trend, it could retest the $3 level. Indicators of this increase include the rise in new account numbers and the growth in trading volumes.

Activity in Cardano and Solana

Solana has risen to $187.91 with a 6.90% increase in the last 24 hours. The trading volume of SOL has reached $4.16 billion with a 20.5% increase. This price increase occurred after the transfer of 149,999 SOL from an unknown wallet to Binance, detected by Whale Alert. Although this transaction created selling pressure on some investors, Solana continues its upward trend despite this pressure.

Cardano is also moving towards the psychologically significant $1 level. The price of ADA has risen to $0.9711 with a 7.49% increase. The trading volume has increased by 15.53%, reaching $1.29 billion.