NAIROBI (CoinChapter.com) - The crypto market has experienced a dramatic reversal in 2024, with some coins making an unexpected recovery. Several cryptocurrencies that had a volatile performance throughout the year have achieved significant rebounds before the end of the year. This article analyzes XRP, Cardano (ADA), Dogecoin (DOGE), Hedera (HBAR), and Litecoin (LTC), focusing on the fundamental factors that have driven their recovery.

XRP: Parabolic gains supported by regulatory hopes (245.29% YTD)
XRP's price has risen by 245.29% year-to-date, with the growth driven by regulatory clarity and renewed confidence in the market. The token reached $2.50 in November, marking a significant recovery from early lows. The rally has pushed XRP's market cap to over $130 billion, surpassing Solana, BNB, and Dogecoin in the rankings.


The recovery stems from a combination of fundamental and speculative factors. Donald Trump's election victory boosted market sentiment, with investors anticipating more favorable crypto regulations from his administration. Institutional investor interest also fueled the rally, with WisdomTree filing an application for an XRP spot exchange-traded fund (ETF) earlier this month. Whale activity also contributed to XRP's meteoric rise, especially on Coinbase, where premiums rose to 3%-13% according to CryptoQuant CEO Ki Young Ju. While South Korea's Upbit exchange, known for its large XRP trading base, does not show a similar premium, the difference highlights regional market dynamics.

Cardano (ADA): Steady recovery driven by upgrades (39.56% YTD)
Cardano has had a tough time in 2024, gaining 39.56% year to date. ADA reached $0.8681 in December, recovering its losses as its ecosystem expanded.


The Hydra upgrade boosts network performance, reduces transaction costs, and increases adoption of decentralized finance (DeFi). Cardano’s growing total value locked (TVL) reflects renewed interest, with developers launching key projects to lure users back to the platform. Rumors of Charles Hoskinson joining the Trump administration sparked speculation, but the Cardano founder dismissed the rumors. Despite the rumors, ADA’s recovery relies on actual improvements to the network and overall optimism in the crypto space.

Hedera’s 2024 surge: From DeFi dark horse to top 25
Hedera (HBAR) has made a strong comeback in 2024, rising 217.75% year-to-date to $0.2879, re-entering the top 25 cryptocurrencies. Its DeFi ecosystem has flourished, with total value locked (TVL) soaring from $53 million in January to nearly $200 million in December, driven by platforms such as Stader and SaucerSwap.


The rally has been fueled by institutional investor interest. Valour Funds filed for a spot HBAR ETF in Europe, while Canary Capital pushed for a U.S.-based product launch. Speculation about a possible policy shift from the new U.S. administration has added further momentum, strengthening Hedera’s appeal to businesses and investors. HBAR’s resurgence highlights its growing importance in DeFi and its potential for further adoption.

Litecoin (LTC): Halving event reignites attention
Litecoin has recovered 39.10% year-to-date, with the growth driven by the August halving event, which reduced miner rewards and tightened supply dynamics. The event reignited interest in LTC, making it seen as a complementary asset to Bitcoin (BTC).


Investors also view Litecoin as a hedge against inflation, a narrative that has been further reinforced against the backdrop of Bitcoin’s (BTC) recovery. Litecoin’s low fees and strong adoption on payment networks have further supported its gains, with the coin up nearly 60% by December. XRP, Cardano, Dogecoin, Hedera, and Litecoin have all demonstrated resilience and adaptability in 2024, overcoming difficulties at the beginning of the year to end on a positive note. Their recoveries have been fueled by technological advances, strategic collaborations, and renewed market interest, highlighting the dynamic nature of the crypto space.