XDC Network reaches its highest price since 2020, surging over 22% daily and approaching top 50 cryptocurrencies amid growing RWA adoption.
XDC Network, a prominent blockchain network focused on the tokenization of Real-World Assets (RWAs), has hit its highest price in over four years, claiming a daily high of $0.13176 in the past 24 hours, soaring over 22.61%. In the past week alone, the altcoin has shot up 37.78% while skyrocketing 61.03% in the last 30 days.
According to the data from CoinMarketCap, XDC $0.0785 24h volatility: 1.9% Market cap: $1.23 B Vol. 24h: $40.80 M has a market cap of $1.89 billion and is trading at a price of $0.1272. The volume of the digital asset soared by 111.55% in the past day. Interestingly, the altcoin is expected to enter the top 50 cryptocurrencies by market cap and currently ranks 61.
XDC Network’s total value locked (TVL) reached a new all-time high of $33.3 million, as per the data from DefiLlama, with $10.39 million in inflows in the past 24 hours. The stablecoin market cap on the blockchain stands at $2.9 million. Considering a protocol not entirely focused on decentralized finance (DeFi), XDC seems to be doing fine.
XDC to Witness a Rally Similar to XRP?
According to XDC supporters, the blockchain network is still in its early stages. Zac Spruill, a crypto analyst, highlighted that the XDC token could potentially witness a rally similar to the XRP $2.25 24h volatility: 2.3% Market cap: $131.35 B Vol. 24h: $2.52 B price performance in 2019. The analyst believes that XDC Network stands to benefit significantly from the rapidly increasing interest in the RWA sector.
Spruill also predicted that the days of the traditional crypto market cycles will soon be over, and market participants will witness the growth of those blockchain protocols with substantial utility. 2025 will be the year of a crypto “supercycle,” and XDC will stand to gain most from it, predicted the analyst.
XDC Price Analysis
As per the chart provided by TradingView below, XDC’s uptrend began last year. The altcoin was trading around the $0.03 price level in November and has since then printed massive gains for its holders.
The Relative Strength Index (RSI) for XDC reads a value of 75.96, which means that the altcoin is now overbought. Interestingly, the gradient of the line suggests that XDC holders might see new all-time highs this cycle.
On the other hand, the MACD indicator also remains bullish for XDC, with the signal line (red) remaining below the MACD line (blue). The increasing divergence between these lines suggests mounting buying pressure in the market.
next