The price of XDC Network continued its strong upward march, reaching its highest level since June 2022 as its ecosystem expands rapidly.

XDC Network (XDC) to a high of $0.1240, representing a 427% increase from its low in 2024. This increase has pushed the coin's market cap to over $1.7 billion.

The spike occurred when the total value locked in the XDC Network ecosystem reached a record high of $31.4 million, up from a low of $3 million last year. Some of the biggest players in the ecosystem include Fathom, XSwap Protocol, Wefi, and Prime Stake.

The XDC network continued to grow this month, with notable integrations from projects like PillarX and Globiance. Developers are increasingly attracted to the network due to its superior features compared to Ethereum (Ethereum). The XDC network can handle up to 2,000 transactions per second with very low transaction costs, averaging $0.00001 per transaction, and is more energy efficient than most blockchains.

A potential catalyst for further price gains could be additional exchange listings by major platforms such as Binance, OKX, and Coinbase.

XDC Network price analysis

The daily chart shows that XDC has been on a strong uptrend over the past few months, rising from the lows of $0.0211 in August to the current price of $0.1200. This recovery came after the formation of a golden crossover pattern, where the 50-day EMA crossed above the 200-day EMA. This is usually a bullish technical signal.

XDC also broke the key resistance level at $0.1080, which was the highest swing point since December 7. This breakout invalidated the potential double top pattern that was forming.

The remarkable oscillator (the difference between the 34-period and 5-period simple moving average) has remained above the zero line since January 4, indicating continued positive momentum. In addition, the MVRV-Z score, which measures whether an asset is overvalued or undervalued, is 2.6. In technical analysis, a score below 3.8 indicates that the token is still relatively undervalued.

Given these factors, XDC is likely to continue its upward trend, as the bulls eye the next psychological resistance level at $0.1500. However, a drop below the key support level at $0.10 would invalidate the bullish outlook.