Cardano

Show

<ul>
 <li>XRP fell 0.87% to $0.5941 on August 20, despite a prior 6.32% rally, amid broader market decline.</li>  
 <li>ADA dropped over 23% in a week, reducing its market cap to $12.12 billion.</li>  
 <li>Analysts express caution on XRP and ADA, citing potential losses compared to newer crypto projects.</li> 
</ul>  
<p>On August 20, XRP fell 0.87% and closed at $0.5941. XRP <a href="https://www.binance.com/en/square/post/11126079317057" target="_blank" rel="noopener noreferrer nofollow">briefly</a> touched $0.6150 but it was unable to maintain momentum as the overall cryptocurrency market fell.&nbsp;</p>  
<p>The total market capitalization fell by 0.55%, reaching $2.050 trillion. XRP's recent performance indicates market uncertainty, raising investor fears about its future trajectory.</p>  
<h2 class="wp-block-heading" id="h-cardano-s-ongoing-challenges"><strong>Cardano’s Ongoing Challenges</strong></h2>  
<p>Cardano has also struggled, with its price <a href="https://cryptonewsland.com/blood-on-the-hands-of-cardano-ada-and-render-rndr-holders-rollblock-rlbk-emerges-unscathed-from-crypto-crash/" target="_blank" rel="noopener noreferrer nofollow">falling</a> by more than 22% in the last week. The decline reduced ADA's market value to $12.12 billion. Since peaking at $0.8100 on March 14, ADA has consistently lost support, failing to recapture earlier highs. The latest drop has put additional pressure on Cardano, underscoring its vulnerabilities in the present market environment.</p>  
<h2 class="wp-block-heading" id="h-analyst-concerns-about-xrp-and-ada"><strong>Analyst Concerns About XRP and ADA</strong></h2>  
<p>Crypto analysts are starting to voice concerns regarding XRP and ADA's long-term prospects. Prominent cryptocurrency analyst Raoul Pal has cautioned investors about investing in older coins such as <a href="https://xrpl.org/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> and ADA. He thinks that they are losing appeal in comparison to younger innovations, which may have an impact on their future growth potential.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/AbsGMCrypto/status/1825956753860866169
 </div>
</figure>  
<p>Max Prime, another expert, has been especially <a href="https://x.com/MatrixPrime_/status/1824603503160967601" target="_blank" rel="noopener noreferrer nofollow">cruel</a> to XRP. He stated that, despite recent legal wins, XRP's price has remained merely stable. This lack of upward motion has fueled investor concern, with some questioning XRP's ability to provide long-term growth.</p>  
<p>As market conditions remain turbulent, XRP and ADA have come under further scrutiny. Investors should stay up to date on legislative developments and market trends as they manage the persistent uncertainty surrounding cryptocurrency.</p> 
<p>The post <a href="https://cryptonewsland.com/xrp-and-ada-show-signs-of-strain-amid-market-volatility-analyst-claims-a-non-worthy-investment/" rel="noopener noreferrer nofollow">XRP and ADA Show Signs of Strain Amid Market Volatility, Analyst Claims a Non-Worthy Investment&nbsp;</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

XRP and ADA Show Signs of Strain Amid Market Volatility, Analyst Claims a Non-Worthy Investment

Table of Contents

Crypto News Land

Autres articles publiés le 21 août 2024

Chinese Entrepreneur: “This Altcoin is Not Getting the Credit It Deserves”

Lido Finance Ventures Beyond Ethereum, Expands to BNB Chain

Polygon Price Exits Multi-Month Correction as Whales Buy In; Is $0.60 Next?

Indian Authorities Arrest Man for Kidnapping Linked to $2.4B BitConnect Scam

Prepare for September: Cryptocurrencies Poised for Explosive Growth

Weekly Article Recap: 8/05-8/09

Join our free newsletter for daily crypto updates!