- Avalanche’s price surged 5% to $47.17, buoyed by Ava Labs CEO Emin Gün Sirer’s confirmation of talks with the Trump administration.
- XRP has surged 370% this month, reclaiming its third position after overtaking Solana and USDT.
The crypto markets have seen splendid resurgence especially after Pro-crypto Donald Trump won the U.S. election. On the forefront, altcoins have proven to be a breeding ground for extraordinary growth.
To begin with, Bitcoin’s market value has slightly declined. At the time of writing, the king of crypto is swapping hands with $94,959.06 after a 1.99% and 3.05% decline in the past 24 hours and week, respectively.
Altcoins, on the other hand, have registered commendable price surges. This has brought about speculation that the altcoin season could be looming. Focusing on Avalanche, an altcoin founded in 2020, currently hit center stage, attracting the cryptocurrency community.
In a recent development, Emin Gün Sirer, the Chief Executive Officer of Ava Labs, has announced via the x platform that they are n talks with the Donald Trump administration.
The CEO and founder of took to X and stated the following.
You will not see us parade our political connections in social media. You’ll just suddenly see results, in total Avalanche fashion.
This came to play following a query from an X member regarding potential discussions between $AVAX and the new administration. The user further added that I hear $XRP is, but that’s a highly centralized coin. You would think Avalanche would be great for this brave new crypto world that we are entering.
On the other hand, XRP has led a massive rally after Ripple’s CEO revealed that the firm is in tlaks with the Trump administration. As we earlier reported, XRP currently reclaimed third position according to market cap after surpassing Solana and stablecoin giant, USDT.
Additionally, XRP price rallies against the backdrop of legal victories in Ripple’s favor and speculations that CEO Brad Garlinghouse will be the top pick for the rumored “Crypto Czar” position under Trump.
Market pundits believe XRP could be on the verge of outwitting its all-time high of $3.84 which was attained early January 2018. In fact, some have even broadened the scope speculating on the digital asset’s ability to exceed current market valuations treading all the way to $5.30.
One popular crypto analyst took to the X platform showcasing his great enthusiasm for XRP. Talking to his 63.4K followers, suggested that the digital asset could potentially reach the $5.30 mark.
#XRP – Listen Up! I’m a PERMABULL:💪🐂
Here’s the Plan:
If you’re looking for a 2017-style rally, then prepare for the power of 2017-style corrections too.Here’s the potential scenario:
🔹 If this pump mirrors 2017’s first major surge (+1,273%), we could hit $5.2–$5.3. 🌟
🔹… pic.twitter.com/cW66Kt6uUo— EGRAG CRYPTO (@egragcrypto) November 29, 2024
Avalanche (AVAX) Price Analysis
Avalanche (AVAX) has seen a significant price increase of approximately 5% over the past 24 hours, reaching $47.17. This surge coincided with a 200% increase in 24-hour trading volume to $2.07 billion. Market sentiment remains bullish, particularly with the anticipated return of a key political figure next year.
Technical indicators, including the Ichimoku Cloud, support this optimistic outlook. AVAX has strong support levels at $44.27 and $42.25. Increased transaction volumes, reaching $566 million in November, and a recent decline in zero-balance addresses suggest renewed market activity and confidence.
