Cardano

Momentum

Gains

The post <a href="https://coinpedia.org/price-analysis/heres-what-next-for-cardano-ada-ripple-xrp-price-as-crypto-market-gains-momentum/" rel="noopener noreferrer nofollow">Here’s What Next For Cardano (ADA) &amp; Ripple (XRP) Price As Crypto Market Gains Momentum</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The cryptocurrency market has displayed a significant uptrend over the past day by adding 5.10% to its market cap. Further, the price of Bitcoin achieved its $52,000 mark for the first time in 26 months, indicating a strong bullish sentiment in the crypto industry.
Following the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">BTC price</a>‘s footsteps, the Ethereum token jumped approximately 5% in valuation and successfully broke out of its crucial resistance level. Moreover, with the recent pump, the crypto industry is on a path to claiming its $2 trillion mark shortly.
Top altcoins such as Cardano (ADA) and Ripple (XRP) have added over 5% to their portfolios over the past 24 hours and have cumulatively added approximately 7% and 12% over the past week.
<h2 class="wp-block-heading" id="h-xrp-price-testing-it-s-major-resistance">XRP Price Testing It’s Major Resistance:</h2>
The Ripple price traded in a closed range between $0.5585 and $0.5836 for a while, following which the bulls recorded a jump of 9.58% in value. The bulls lost momentum after facing rejection at $0.6121 and experienced a pullback in the chart.
The <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" rel="noopener noreferrer nofollow">XRP price</a> traded in the closed range for the next six days. As the market volatility grew, the price recorded another correction of over 5%, after which the XRP price traded sideways for a while. The bulls struggled to hold the price above the support level, resulting in a price breakdown.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/D2uzFXNERHUfu3rF5yfqI5PATWIAIed2dFQfEWMseHEEVLlKg4e58-lQzX4JK_qOGdz8dQHGd4AOS6rvzbIXyMQTAocyAUEZIDvuBaaw6fKgPdr1WxnppDH7xWVu3Vmb5f4UbOkVmHihbzU9GUMhlyQ" alt="XRP Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: XRP/USDT
 </figcaption>
</figure>
Following this, the XRP coin price traded in a consolidated range between $0.4919 and $0.5385 for a brief period. After multiple attempts, the bulls recently broke out of the resistance level, indicating a rise in the bullish sentiment in the crypto market.
The MACD displays a significant rise, indicating an increased buying pressure within the market. Further, the averages show a constant rise, suggesting the price will continue gaining value this week.
If the bulls continue to gain momentum, the XRP coin price will test its upper level of $0.5836 this month. On the other hand, if a trend reversal occurs, the market will lose momentum, and the Ripple price will prepare to test its lower level of $0.5141 in the upcoming weeks.
<h2 class="wp-block-heading" id="h-cardano-ada-price-analysis">Cardano ADA Price Analysis:</h2>
The <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" rel="noopener noreferrer nofollow">Cardano ADA price</a> displayed a neutral trend for a while, following which the market volatility increased and the bulls jumped over 22%, after which the price faced rejection. The ADA price then started trading under a bearish influence and lost approximately 26% over the next twelve days.
After this, the price traded sideways for a while, and after multiple attempts, the bulls regained momentum and recorded a jump of 12.09%. Following this, the price traded in a consolidated range between $0.4756 and $0.5331 for the next two weeks.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/eBIop76zSFg1hAonuqxONSnZlo6tH6mwGmDnWrERWoyN3dqEE-QQmrZMX-d9w6MHAAnd9auTNZKDMIHxJ3lf_Zj3-e2amgLYpfNZLdmil5eViuNLlCfJOPHDrwJYfU8ruPUwQRZs_UT3pdujbKHnbpY" alt="ADA Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ADA/USDT
 </figcaption>
</figure>
As the market volatility grew, the bulls gained just enough momentum to break out of their resistance levels, following which the price traded sideways for about a week. Recently, the bulls regained momentum by adding over 5% and are on the verge of testing their resistance level.
The technical indicator, MACD, displays a decline in the green histogram, indicating a drop in the buying pressure within the market. Further, the averages show a bearish curve, highlighting an uncertainty in the future price action of the coin.
If the market pushes the price above the resistance level of $0.5834, the bulls will regain momentum and prepare to test its upper limit of $0.640 in the upcoming weeks. Conversely, if the bears overpowered the bulls, the price would lose momentum and prepare to test its low of $0.5331.

Here’s What Next For Cardano (ADA) & Ripple (XRP) Price As Crypto Market Gains Momentum

목차

CoinPedia News

2024년 2월 15일에 게재된 다른 기사

Coinbase Stock Rallies 7% Pre-Market, Will Earnings Beat Wall Street Estimates?

Blur and Arbitrum surging, investors stacking Everlodge after Uniswap listing

Stacks (STX) mirror Bitcoin’s path, soar 10%, will it hit ATH?

Market Optimism Fuels Ethereum’s Push Towards $4,000; Big Investors Show Keen Interest in New Mem...

EU Parliament Achieves Historic Goal with World’s First AI Regulations

John Deaton eyes, senate run against Elizabeth Warren

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!