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<p>The altcoin market remains robust, contributing an additional 2% to the overall cryptocurrency market. Leading altcoins have been displaying significant resilience, particularly following the recent release of <a href="https://coingape.com/bitcoin-steady-but-altcoins-rally-as-us-labour-market-cools-down/" target="_blank" rel="noopener">US job data</a> two days ago. The entire altcoin market cap has achieved a significant breakthrough, departing from its year-long market pattern and now encounters a notable weekly resistance level.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Altcoin Market Cap approaching its first major Weekly resistance (red) after confirming a breakout from its year-long market structure<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/IHfMThSz6k">pic.twitter.com/IHfMThSz6k</a></p> 
 <p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1721133483798446330?ref_src=twsrc%5Etfw">November 5, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h3 id="ethereum-xrp-and-cardano-lead-the-show">Ethereum, XRP and Cardano Lead the Show</h3> 
<p>The world’s second-largest cryptocurrency Ethereum (ETH) is up by another 3% for the second consecutive day moving closer to $2,000. At press time, ETH is trading at $1893 with a market cap of $227 billion.</p> 
<p>While Ethereum has been relatively slow in catching up with the Bitcoin rally this year, large wallets have been accumulating the crypto consistently over the past six months. On the other hand, the Ethereum supply on the exchanges has been reducing consistently thereby reducing the selling pressure.</p> 
<figure id="attachment_163450" aria-describedby="caption-attachment-163450" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-163450" src="https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply.png" alt="" width="3840" height="1300" srcset="https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply.png 3840w, https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply-300x102.png 300w, https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply-1224x414.png 1224w, https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply-768x260.png 768w, https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply-1536x520.png 1536w, https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply-2048x693.png 2048w, https://coingape.com/wp-content/uploads/2023/11/Ethereum-whale-supply-150x51.png 150w" sizes="(max-width: 3840px) 100vw, 3840px">
 <figcaption id="caption-attachment-163450" class="wp-caption-text">
  Courtesy: Santiment
 </figcaption>
</figure> 
<p>Ripple’s native crypto XRPP has also been a star performer by clocking more than 15% weekly gains. The XRP price is up 4.54% over the last 24 hours trading at $0.64 with a market cap of $34.4 billion.</p> 
<p>Large XRP transactions exceeding $100,000 in value surged in November, indicating increased potential for volatility in XRP’s price. Data from Santiment reveals a 106% increase in the number of whale transactions so far this month.</p> 
<figure id="attachment_163451" aria-describedby="caption-attachment-163451" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-163451" src="https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions.png" alt="" width="3840" height="1300" srcset="https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions.png 3840w, https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions-300x102.png 300w, https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions-1224x414.png 1224w, https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions-768x260.png 768w, https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions-1536x520.png 1536w, https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions-2048x693.png 2048w, https://coingape.com/wp-content/uploads/2023/11/XRP-Whale-Transactions-150x51.png 150w" sizes="(max-width: 3840px) 100vw, 3840px">
 <figcaption id="caption-attachment-163451" class="wp-caption-text">
  Courtesy: Santiment
 </figcaption>
</figure> 
<p>Investors continue to gain confidence in XRP as Ripple <a href="https://coingape.com/xrp-lawsuit-legal-expert-says-20m-settlement-is-99-9-win-for-ripple/" target="_blank" rel="noopener">edges closer to victory</a> in its legal battle with the SEC. It’s a matter of a few months, if not weeks, as Ripple emerges victorious and we soon see more adoption for XRP by global financial institutions. For now, XRP investors seem to gearing up for the next target of $1.</p> 
<p>Ethereum competitor Cardano (ADA) has also registered a strong bullish surge gaining 5.25% and moving to $0.35. As <a href="https://coingape.com/cardano-ada-defies-broader-market-correction-amid-whale-transactions-whats-next/" target="_blank" rel="noopener">reported</a>, the ADA price continues to gain strength with strong whale participation.</p> 
<h3 id="chainlink-party-continues">Chainlink Party continues</h3> 
<p>Chainlink (LINK) has continued to rally gaining another 7% and moving past $12. The LINK price is currently trading at a major resistance, surpassing which could lead to a further price rally.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> </p> 
 <p>Now at the Monthly Macro Downtrend</p> 
 <p>Last time it was here was in early &amp; late 2021 where LINK produced upside wicks past this Downtrend resistance (blue circles)</p> 
 <p>That's why LINK needs to reclaim the Downtrend as support</p> 
 <p>Matter of when, not if<a href="https://twitter.com/hashtag/LINK?src=hash&amp;ref_src=twsrc%5Etfw">#LINK</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> <a href="https://t.co/hZArrVdvFa">pic.twitter.com/hZArrVdvFa</a></p> 
 <p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1721129818152964256?ref_src=twsrc%5Etfw">November 5, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The post <a rel="nofollow" href="https://coingape.com/altcoin-market-rally-ethereum-xrp-and-cardano-lead-the-show/">Ethereum, XRP and Cardano Show Strength in Altcoin Market Rally</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

Ethereum, XRP and Cardano Show Strength in Altcoin Market Rally

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