How High Can XDC Go Before the End of 2024?

• XDC has risen by nearly 20% in a day, climbing from $0.07807 to an intraday high of $0.0933.
• The XDC Network’s partnership with ArchaX, focused on RWA tokenization, has significantly boosted its recent price surge.

After a brief bleeding day, the cryptocurrency market opened the trading window with some green. Following a day of dips, Bitcoin (BTC) climbed back into the $98K zone earlier today during Asian trading hours. Other leading altcoins—including Ripple’s XRP, Solana (SOL), TRON (TRX), and Toncoin (TON)—saw a mix of gains and dips as the overall market Fear & Greed Index stood at 73 (Greed), as per CMC data.

Among the many altcoins, XDC Network (XDC) emerged as the sole top gainer, displaying a maximum surge of nearly 20% in the past 24 hours.

XDC, which had been trading at a low of $0.07807, soared to an intraday high of $0.0933—a 209% increase over the past month. Additionally, the token’s daily trading volume also saw a notable rise of 9.15%, reaching $65.76 million.

XDC’s Bullish Momentum and Price Outlook

XDC began its significant bullish run on December 6 following the announcement of a partnership between the XDC Network and ArchaX platform to focus on RWA tokenization and development. ArchaX is one of the digital securities exchange platforms regulated by the UK’s FCA.

Since then, XDC surged more than 54% and recorded a yearly high of $0.1064 on Dec 7. At present, the altcoin is priced at $0.09242 with a market cap of $1.38 billion. Zooming in since the start of 2024, the crypto has seen a 90.67% rally from the bottom of the $0.02.

XDC Network (XDC) Price Chart (Source: TradingView)

Analyzing the above XDC/USDT pair, the cryptocurrency is trading within an ascending channel, signaling a bullish trend with higher highs and lows. With the RSI at 60, XDC shows strong bullish momentum and is not yet overbought, suggesting room for potential upside.

Also, the MACD is above the signal line, confirming that the altcoin is in a strong bullish phase.

Looking ahead, the four-hour price chart of XDC reveals the nearby resistance at $0.099. More gains could propel the asset to maintain its position in the bullish zone. If the crypto continues to gain momentum, the crucial threshold might be at the $0.11 to $0.13 mark.

However, a slight bearish pressure was seen in the CMF indicator, hinting that the asset may pose risks, potentially pulling the XDC price back to around $0.059 in the event of a correction. A steady breakdown from this level will likely trigger a steep downward correction toward its previous low in the $0.032 range.

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