This Old Crypto Compact Rises: XRP, HBAR, ALGO, And ADA

A number of classic crypto assets have increased. (Photo; Doc. BlockchainNews)

JAKARTA In recent weeks, a number of older cryptocurrencies such as XRP, Hedera (HBAR), Algorand (ALGO), and Cardano (ADA) have experienced a significant price spike. This increase has also attracted the entry of investors, who previously focused more on new cryptocurrencies. One of the most publicly highlighted of one of the oldest coins is XRP, which recorded a surge of up to 431% in the last four weeks.

The recent skyrocketing price of XRP has been heavily influenced by rumors regarding the possible end of a lawsuit that has been going on for years between Ripple Labs and the United States Securities and Exchange Commission (SEC). If this case comes to a favorable conclusion for Ripple, XRP could potentially jump even higher.

Crypto analyst Ali Martinez through the account X (@ali_charts) on December 2, stated that with Gary Gensler's resignation from the position of chairman of the SEC, XRP could penetrate a target that had not been achieved since a few years ago at a price of 2 US dollars (around Rp31,600). Now, on December 3, XRP has actually jumped higher than US$2.66 based on CoinMarketCap data today.

Apart from XRP, other altcoins such as Stellar (XLM), Algorand (ALGO), Hedera (HBAR), and Cardano (ADA) also show positive trends. These Altcoin-Altcoins are not only getting attention because of their technological developments, but also through network updates that have succeeded in increasing attractiveness among investors. For example, the Alonzo update made by Cardano increased network capacity and functionality, thus attracting new investors to join.

Meanwhile, Hedera (HBAR) is also experiencing a significant increase thanks to a surge in network activity, which adds to investor confidence in the platform's ability to support more efficient and environmentally friendly blockchain-based applications.

External Factors That Affect Investment Interests

In addition to the internal factors above, external factors also play a role in this classic crypto comeback. Donald Trump's victory in US elections, broader adoption of blockchain platforms, as well as various technical updates in the crypto world provide new hope for investors.

However, behind the price spike, there are concerns that massive transactions carried out by institutional investors could lead to high volatility, disrupting the momentum of rising prices.

Analysts from Santiment (@santimentfeed) warned that this "altcoin season" could be at risk of experiencing turmoil, along with the selling pressure of large investors. Even so, for many investors, it is now a golden opportunity to enter the crypto market before this "altcoin season" peaks.