Following a week of stabilization, XDC has made a notable upward movement, driven by new partnerships aimed at enhancing its adoption.
Recent data indicates that XDC Network (XDC) experienced a 10% increase, reaching an intraday peak of $0.072 on March 20 during the afternoon trading session in Asia. This surge allowed it to surpass the $0.07 resistance level that had persisted for the week.
At that moment, XDC’s market capitalization was over $1.1 billion, and daily trading volume surged by 25%, nearing $40 million.
The increase in XDC’s value is linked to growing enthusiasm surrounding its recent collaboration with Mercado Bitcoin, one of Brazil’s largest cryptocurrency exchanges.
The partnership aims to enhance the real-world asset token market by utilizing XDC Network’s blockchain technology to globally distribute MB’s tokenized investment products.
Investors in XDC are responding positively to this development, perceiving it as a significant step toward broader institutional acceptance of tokenized assets. The market capitalization of real-world asset (RWA) tokens, excluding stablecoins, currently totals $18.3 billion, according to a data aggregator.
Furthermore, XDC is also gaining momentum from another significant initiative—the launch of the XDC Payments Program in Seoul. Collaborating with PlugAndPlay APAC, this program seeks to connect South Korea’s leading Web3 startups, developers, and innovators with XDC Network’s enterprise-grade blockchain offerings.
Given the thriving blockchain scene in South Korea, this initiative is expected to enhance adoption and visibility for XDC.
PlugAndPlay has also unveiled the first XDC Network RWA Accelerator, which will commence on March 18, 2025. Out of 100 applicants, 11 outstanding projects have been selected to integrate with XDC Network, pioneering innovative applications in RWA tokenization.
XDC Price Analysis
Technical indicators suggest that XDC may experience further gains in the upcoming days.
On the 4-hour USDT chart, XDC has successfully broken above the $0.07 resistance level that had held for the prior week.
The altcoin appears to be on the verge of a significant bullish reversal, as it seems poised to break free from the descending parallel channel it has been confined to for almost five weeks. If it can clear this mark with substantial momentum, a robust uptrend could emerge.
The Aroon Up indicator stands at 92.86%, while the Aroon Down is at 42.86%, reinforcing the presence of strong purchasing pressure and signaling a prevailing bullish sentiment. Additionally, the upward direction of the MACD lines indicates that buying momentum is surpassing selling pressure, further bolstering the optimistic outlook.
If XDC breaks through the descending parallel channel, it is projected to continue its ascent to challenge the $0.080 psychological resistance level. A successful breach of this level could lead to even greater heights, potentially revisiting the $0.103 mark last achieved in mid-February of this year.
As of the latest reports, XDC had increased by 6.3%, trading at $0.070 per coin.
Please note: This article does not constitute investment advice. The information and materials presented on this page are intended solely for educational purposes.