Top Cryptocurrencies to Watch: XRP, APE, and ALGO's Impressive Gains This Week!

Market Overview

The global cryptocurrency market cap has corrected to $3.42 trillion, reflecting a nearly 10% drop from two weeks ago. Bitcoin (BTC), which attempted to reach $100,000 two weeks ago, was a key driver of last week’s market downturn, retesting the $90,000 support level before rebounding to over $97,200.

XRP Retests 2021 Peak

XRP was one of the biggest beneficiaries of last week’s market rebound. Despite dropping by more than 12% from Nov. 24 to 26, XRP eventually closed the week with an impressive 33% gain. After retesting $1.28 on Nov. 26, it breached the $1.63 resistance, flipping Binance Coin (BNB) to secure fifth among top assets. XRP soared further to $1.9586, marking a retest of the $1.96 peak from April 2021. If it sustains this uptrend and breaches $1.96, it could reclaim $2 for the first time since the 2018 bull run.

APE Breaches 5-Week Triangle

ApeCoin (APE), the ecosystem token of the Bored Ape Yacht Club, saw a 13.6% increase last week. As of Nov. 29, it gained 11%, breaching the top trendline of a five-week symmetrical triangle. The bulls showed strength, allowing APE to close the week at $1.5. However, it has since dropped below this level, and the bulls must defend the $1.3 region to maintain momentum.

ALGO Spikes 51%

Algorand (ALGO), the native token of the open-source smart contract layer-1 blockchain, was one of the largest gainers last week, spiking by a remarkable 51%. Most of ALGO’s gains occurred on Nov. 29, when it rallied by 36.92%, its biggest intraday gain this year. Analysts have projected lofty price targets, with expectations of a rally to $1.5. For continued upward momentum, ALGO needs to breach its next major resistance at $0.4893.