- Bitget Token, XDC Network, and XRP emerged as this week’s biggest gainers
- AI16Z, ThorChain, and Virtuals Protocol had the biggest losses over the past week
The cryptocurrency market delivered another action-packed week of trading, with several tokens staging impressive rallies while others faced significant selling pressure. As institutional interest continues to drive market dynamics, let’s dive into the most notable price movements that shaped this week’s trading landscape.
Biggest winners
Bitget Token (BGB)
BGB emerged as this week’s standout performer, soaring past expectations with a remarkable surge from $6.011 to $7.137. The token’s journey has been particularly eye-catching since November’s breakthrough, consistently setting higher lows while smashing through previous resistance points.
Source: TradingView
December saw a dramatic uptick in trading activity, with volume surging alongside the price – A clear sign of growing market confidence. Trading well above its moving averages at $7.225, BGB maintained strong bullish momentum, reflected in its 20% weekly gains. The chart revealed a textbook golden cross pattern, traditionally a reliable indicator of sustained upward movement.
While the steep price climb might raise eyebrows, the steady volume growth alluded to genuine market interest rather than speculative frenzy.
However, traders should keep a close eye on potential consolidation phases, which often follow such dramatic runs. The token’s performance stands out even more considering the broader market conditions, marking it as one of the most resilient assets in the prevailing trading landscape.
XDC Network
XDC’s impressive rally continues to turn heads, securing its position as this week’s second-best performer with solid 12% gains. The token pushed through the crucial $0.10-mark, climbing from $0.0968 to $0.101 – Showcasing remarkable strength in a typically volatile market.
Trading volume remains healthy at 820.55K XDC, suggesting sustained market interest rather than short-term speculation. At the time of writing, data showed that its volume was around $53.7 million, with an over 5% hike in the last 24 hours. The chart also revealed an uptrend, validating the bullish momentum.
XDC also seemed to maintain a comfortable position above both its 50-day and 200-day moving averages, while the current -0.66% daily movement pointed to minor profit-taking.
XRP
XRP clinched its spot among this week’s top performers with a dramatic late-week surge, despite a shaky start around $2.3. The altcoin’s fortunes turned sharply on 11 January, when a 10% upswing pushed the price towards $2.5. At press time, however, it was experiencing a pullback at $2.4953 (-3.13%).
Trading volume remained strong at 52.94M XRP, indicating significant market engagement during the rally. XRP seemed to be comfortably above its key moving averages of 2.2409 (50-day) and 1.0037 (200-day), maintaining its long-term bullish structure despite recent volatility.
The chart also traced an impressive recovery from November’s consolidation phase, setting the stage for the prevailing upward trajectory.
Biggest losers
AI16Z (AI16z)
AI16Z emerged as this week’s biggest casualty, plummeting from $1.8 to $1.1 in a dramatic sell-off that erased over 37% of its value. The token briefly teased investors with a sharp 20% bounce that pushed the price above $2, only to face relentless selling pressure throughout the remainder of the week.
Trading at $1.1688 with modest gains of +0.76% at press time, the token’s trading volume stood at 239 million. Data underlined a decline of over 29% in the last 24 hours, reflecting intense market activity during the downturn.
The chart painted a picture of extreme volatility, with the token recording wild price swings characteristic of a market struggling to find stable ground. The lack of clear support levels following the recent steep decline alluded to potential for further volatility ahead.
ThorChain (RUNE)
RUNE’s brutal sell-off continued this week, landing it among the worst performers with a staggering 33% decline. The token, which opened at around $4.9, faced relentless selling pressure that accelerated as the week progressed, ultimately pushing the price down to $3.395 (-1.48% daily).
Trading volume hit 3.71M RUNE, highlighting the intensity of this downward move. The technical picture looked particularly grim as the token crashed through both its 50-day and 200-day moving averages (5.496 and 4.734, respectively), erasing months of gains in a matter of days.
Finally, the sharp reversal from December’s highs pointed to a significant shift in market sentiment, with the break below key support levels potentially opening the door for further downside.
Virtual Protocol (VIRTUAL)
VIRTUAL’s latest price action painted a clear picture of deteriorating market confidence, with the token recording a steep 31% decline this week. Opening near the $4 mark, the token immediately faced selling pressure, dropping by 9% in the initial trading sessions. Trading at $2.8246 after falling by 5.53% over the day, VIRTUAL’s charts highlighted sustained selling interest.
At press time, the technical setup appeared particularly concerning as the price broke below several key support levels.
The MACD indicator (-0.2113) turned sharply negative, confirming the strong bearish momentum. This bearish crossover on the MACD underlined the potential for sustained downside pressure in the near term.
Source: TradingView
Looking at the moving averages, VIRTUAL was trading well below both its 50-day (2.5613) and 200-day (0.7330) moving averages, though the long-term uptrend structure remained intact, given the price was still above the 200-day MA. The volume profile during this decline showed increasing sell-side participation, particularly in recent sessions.
The rapid descent from December’s highs suggested a possible capitulation phase, though the lack of a clear bottoming pattern makes it difficult to identify reliable support levels. The price action from November to December formed a blow-off top, with the current decline potentially representing the correction phase of that pattern.
For any potential recovery, the token would need to reclaim the 50-day MA as support. In fact, the the immediate price action suggested that further consolidation may be likely before any meaningful bounce.
Conclusion
Here’s the weekly recap of the biggest gainers and losers. It’s crucial to bear in mind the volatile nature of the market, where prices can shift rapidly.
Thus, doing your own research (DYOR) before making investment decisions is best.
