🟢 Why is Axelar (AXL) up?

@axelar | $0.4234 | +17.7% (24h)

TLDR: AXL surged on its key role in the XRP Ledger EVM launch, technical breakout, and renewed altcoin momentum as BTC dominance slipped.

Drivers
→ XRP Ledger’s EVM sidechain launched with $105M TVL and 1,400+ smart contracts. Axelar powers its cross-chain bridging.
→ Ripple CTO praised Axelar’s role in “extending XRPL capabilities.”
→ Altcoin flows rising: BTC dominance fell to 60.8% (-0.23% in 24h).

Techs
→ Broke above 30D SMA ($0.35) + 7D EMA ($0.384) → confirms bullish reversal.
→ RSI(14) at 58.5 = still room before overbought.
→ Volume +787% (to $219M) signals strong conviction.
→ Fib 127.2% extension shows $0.465 as the next key resistance.

Conclusion:
AXL is riding the XRP EVM tailwind, with breakout volume and altseason risk appetite behind it. Sustained upside depends on real traction from XRPL builders and broader L1/L2 bridging demand.