Altcoins
XRP or ADA, which altcoin will reach $1 first?
With the bullish recovery of the cross-border payment system, the cryptocurrency market has shown a strong rebound in its valuation. Bitcoin Price managed to reclaim the $60,000 mark, highlighting an increased positive influence in the crypto space.
Subsequently, major altcoins displayed similar price action by adding significant valuation to their respective portfolios. Moreover, XRP and ADA coins saw the highest gains among the top 10 crypto tokens over the past week.
Are you worried about the future price action and the potential roadmap to reach the $1 mark for ADA and XRP prices? Fear not, because in this article, we have covered the market sentiments and price analysis of these two altcoins.
ADA coin price breaks above its important resistance level:
With a jump of 5.11% over the last day and 17.55% over the last week, the Cardano Price managed to regain its momentum by recording positive price action for six consecutive days. Additionally, the altcoin broke above its important resistance level, indicating increased bullish sentiment.
TradingView: ADA/USDT
The RSI technical indicator has successfully crossed its neutral point, highlighting an increase in buying over selling pressure in the crypto space. Moreover, the average trendline is showing a bullish convergence on the 1D time frame.
The MACD (Moving Average Convergence Divergence) is showing an upward trend in its green histogram, with its averages recording bullish action. This suggests that the ADA crypto will continue to gain value in the times to come.
If the market continues to move in a bullish mood, ADA price will prepare to test its upper resistance level of $0.50. Conversely, if the bears regain momentum, the Cardano token will plunge towards its low of $0.4075.
XRP token records biggest price increase in over 4 months:
In a context of increased price volatility in the cryptocurrency market, XRP Price saw a jump of 8.35% over the past day with a trading volume of $1.815 billion. Moreover, despite the current market turbulence, this altcoin has jumped by 17.20% over the past week and by 5.39% over the past month.
TradingView: XRP/USDT
The Relative Strength Index (RSI) has been showing a strong increase and is steadily moving towards its overbought zone, indicating increasing bullish sentiment.
Additionally, the MACD indicator has seen a sharp rise in the green histogram, with its averages registering a bullish convergence. This indicates a bullish outlook for the XRP coin price in the market.
If the market sustains the Ripple price above its important support level of $0.488, the bulls will prepare to test its upper resistance level of $0.630 in the coming time. However, in case of a trend reversal, the XRP token could retest its crucial support level.
End note:
With a 17.20% jump in the last seven days, the XRP cryptocurrency needs a 94.07% surge to reach the $1 mark, considering its current trading price of $0.5153. On the other hand, the ADA coin price with a trading value of $0.4206 needs a 137.75% price surge to reach its target.