Why is XDC’s Price Up Today?

The price of XDC has been rising steadily today, showing a notable increase of 4.7% in the last 24 hours. This outpaces the broader cryptocurrency market's 4.51% gain. 

The surge is attributed to a combination of factors, including enterprise adoption momentum, liquidity incentives, and bullish technical signals. Let’s dive into the key drivers behind the increase in XDC's price and its market outlook.

XDC Price Today: A Detailed Look

At the time of writing, XDC's price has reached $0.0590, reflecting a strong upward movement. The price has seen an impressive increase from its previous low of $0.0562. 

This rise indicates that XDC is gaining traction within the cryptocurrency space, fueled by recent strategic moves.

Read Also: Stake Your XDC | Earn XDC Staking Rewards

Key Price Drivers Behind XDC’s Surge

Enterprise Adoption & Trade Finance Pilots

One of the key catalysts for the surge in XDC’s price is the acquisition of Contour Network. XDC Ventures acquired Contour, a digital trade finance platform, which revives its operations and integrates USDC for institutional pilots. 

Contour was previously involved in digitizing letters of credit for over 50 banks, helping reduce settlement times by 70%. 

With strong partnerships with major financial institutions like HSBC and Citi, the acquisition opens up a massive market in trade finance, which is valued at $2.5 trillion. 

This acquisition accelerates XDC’s access to institutional liquidity and adoption, as it focuses on bridging traditional finance with blockchain technology for faster and more efficient settlements.

$10M Surge Program Launch

Another important factor contributing to XDC’s price increase is the launch of the $10 million Surge Program. Announced on October 30, this program allocates $1.25 million to liquidity pools on platforms like Curve, XSwap, and Oku. 

The program aims to improve liquidity depth and reduce slippage, which is crucial for attracting traders and institutional investors. The initial results have been promising, with a 42% increase in trading volume over the past 24 hours. 

This surge indicates growing confidence in XDC’s liquidity and its ability to compete within the decentralized finance (DeFi) space.

Technical Breakout Above Key Moving Averages

On the technical front, XDC has recently broken above its 30-day Simple Moving Average (SMA) at $0.0595 and 7-day Exponential Moving Average (EMA) at $0.0566, signaling a potential continuation of the bullish trend. 

The Relative Strength Index (RSI) at 56.24 suggests that XDC may have room for more upside in the short term. However, the 200-day SMA at $0.0724 remains a key resistance level, which could cap the price in the medium term.

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XDC’s Bullish Momentum: Long-Term Outlook

While XDC is showing positive short-term momentum, its long-term outlook remains bullish. XDC has been working hard to position itself as a key player in the trade finance and DeFi spaces, both of which are poised for significant growth.

The Contour acquisition and the seamless integration of USDC on XDC’s platform provide a robust foundation for growth, especially with the $10 million Surge Program and potential cross-chain liquidity improvements. 

Additionally, XDC's compliance with MiCA (the EU’s crypto regulations) and favorable PoS regulatory stances further enhance its appeal to institutional investors, making it a strong contender in the blockchain space.

Read Also: Will XDC Staking Be Popular After Regulatory Clearance? Participating on Bitrue

How to Buy XDC on Bitrue

For those interested in buying XDC, Bitrue is one of the most popular exchanges that offer this cryptocurrency. Follow these steps to buy XDC on Bitrue:

1. Create an Account on Bitrue
    
   • Start by signing up on Bitrue using your email address and setting up two-factor authentication for extra security.
     
      
2. Deposit Funds into Your Account
    
   • Deposit cryptocurrency (like BTC, ETH, or USDT) into your Bitrue account, or use fiat methods such as a bank transfer to fund your account.
     
      
3. Navigate to the XDC Market
    
   • After funding your account, search for the XDC/USDT pair in the market section.
     
      
4. Place Your Order
    
   • Decide whether to place a market order or limit order for XDC. A market order buys at the current market price, while a limit order allows you to set a specific price.
     
      
5. Secure Your XDC Tokens
    
   • Once your order is complete, you can keep your XDC tokens on Bitrue or transfer them to a secure external wallet for better protection.

Read Also: XDC Exclusive Staking on Bitrue, APY up to 10%, Don’t Miss it

XDC Price Prediction

Short-Term Price Forecast

In the short term, XDC could continue to gain momentum, especially if it sustains the recent upward movement. $0.0656 is the next significant resistance level to watch. If it can close above this level, the price may push higher towards the $0.0724 resistance.

Medium-Term Price Outlook

Over the next 6-12 months, XDC could reach the $0.08 - $0.10 range as it gains further adoption in trade finance and DeFi. 

As institutional adoption grows and liquidity incentives drive more participation in XDC’s ecosystem, the price could see steady growth.

Long-Term Price Projection

In the long run, if XDC’s vision for tokenized trade finance and DeFi growth comes to fruition, the price could approach $0.15 or higher. 

Institutional interest, combined with technological advancements and regulatory clarity, could propel XDC to new highs.

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FAQ

Why is XDC’s price rising today?

XDC’s price is rising due to the acquisition of Contour Network, the launch of a $10M liquidity program, and a technical breakout above key moving averages.

What is XDC’s current price?

The current price of XDC is $0.0590, reflecting a strong upward movement in the market.

How do I buy XDC on Bitrue?

To buy XDC on Bitrue, create an account, deposit funds, navigate to the XDC market, place your order, and secure your tokens.

What is the XDC Surge Program?

The XDC Surge Program is a $10M liquidity incentive program designed to boost liquidity in DeFi pools and encourage institutional participation.

What is XDC’s price prediction for the next year?

XDC’s price could range between $0.08 to $0.10 in the next 6-12 months based on adoption in trade finance and DeFi.