Cardano and XRP gain momentum as iDEGEN demand soars

Donald Trump’s inauguration, which is slated for 20th January, might just be crypto’s top catalyst in the short term. Indeed, expectations of crypto-friendly policies during his final term have the likes of Ripple and Cardano recording a stellar performance. 

Besides, with this positive sentiment, more investors are looking for opportunities beyond the crypto majors. One of the feasible projects that is on everyone’s radar is iDEGEN. It bears immense potential as an AI meme coin; an aspect that explains the over $17 million raised in just 8 weeks. Besides, it has revolutionized the concept of “for the community, by the community”. 

Investor confidence bolsters XRP price to a 7-year high

Ripple price has recorded a bullish breakout after being range-bound for over a month. Indeed, it is among the crypto majors that have had a stellar performance in the current week. On Friday, XRP/USD was in the green for the fifth session in a row having surged by 9.08% over the past 24 hours.  

In addition to the bullish sentiment that continues to support the broader crypto market, positive developments in Ripple’s SEC case have bolstered investor confidence. This is despite the agency’s recent appeal filing. This progress has further increased interest from institutional investors; pushing the altcoin to a 7-year high. 

A look at its daily price chart places Ripple price in the overbought territory with an RSI of 76. In the near term, it may have a corrective pullback before rallying further to $3.5000. 

As at the time of writing, XRP/USD was trading at $3.2717. In the event of a pullback, the bulls will be striving to defend the support level at $3.0000. A further decline may have it find support along the 20-day EMA at $2.6010.

iDEGEN’s potential yields a $17 million valuation ahead of listing

As investors increasingly look for opportunities beyond the crypto majors, one project stands out – iDEGEN. Founded on AI and the power of an active online community, the one-of-a-kind social experiment has the markings of a billion-dollar AI meme coin. 

Eight weeks since the launch of its presale auction has already raised over $17 million. The $IDGN token that began at $0.00011 is now at $0.011 with returns of close to 10,000%. Seeing how the early adopters are already sitting on hefty profits, more savvy investors are rushing to accumulate $IDGN tokens ahead of its listing on 27th February. 

Notably, the project’s virality, absence of guard rails, and overall uniqueness points to its potential of becoming a top AI meme coin, giving the likes of Fartcoin and ai16z a run for their money. In addition to a crypto-friendly environment under Donald Trump’s administration, the crypto will benefit from the positive sentiment around AI.

 Indeed, as seen on CoinGecko, AI meme coins’ market cap is at over $8 billion. Fartcoin and ai16z, top AI meme coins that were launched in October 2024 are valued at $1.38 billion and $1.41 billion respectively. At its current pace, iDEGEN has the potential to match these figures in coming months. You can buy the iDEGEN token here.

Trump’s inauguration set to ignite Cardano’s bull run 

Donald Trump’s inauguration, which is slated for 20th January, is expected to be a key bullish catalyst in the cryptocurrency space. Among other crypto-friendly policies, the president promised to abolish capital gain taxes on cryptocurrencies issues by US companies. This includes Cardano as well as other cryptos like Ethereum and Bitcoin. 

With the resultant positive sentiment, ADA/USD is set for a major bull run after being range-bound for close to two months. As at the time of writing, Cardano price was at $1.1064. 

At its current level, it may continue facing resistance at $1.1475 before the bulls can gather enough momentum to bolster it to $1.1800. On the flip side, a pullback would have it find support along the psychologically crucial zone of $1.0000.