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July 23, 2024
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XRP Army May Transcend Cardano Bulls to Reach $1 First: Here’s When!

The post XRP Army May Transcend Cardano Bulls to Reach $1 First: Here’s When! appeared first on Coinpedia Fintech News

The crypto market had achieved the milestone of a $2 trillion market cap as Bitcoin prices soared above $52,000 and approached close to $53,000. This was when the Ripple (XRP) price headed close to $0.6, while the Cardano (ADA) price surpassed it and achieved $0.64. Further, both the tokens faced bearish heat, but the current trade setup suggests that XRP may reach a dollar much before ADA. 

Cardano (ADA) Price Analysis

  • The weekly chart of ADA price displays the token being at the neckline of a parabolic recovery after the 2021 bear market
  • However, the token is facing immense trouble in rising above $0.68, which has become one of the crucial resistances to achieving
  • The bears have managed to keep the price restricted throughout the week, but the upcoming weekly close may turn the tables for the token
  • The StochRSI is flashing bullish signals, which may lift the levels above $0.9 initially and if the bulls manage to sustain at these levels, a rise beyond $1 could be possible somewhere by the end of Q3

Ripple (XRP) Price Analysis

  • Being a little different from the ADA price, the XRP price has been displaying acute variations, trading within a rising parallel channel 
  • The rebound from the lower support suggests the resurgence of the bulls and if the volume supports, a huge god candle could form, heading towards the upper resistance of the channel
  • The bullish StochRSI may certify the bullish rebound but the draining volume may raise some concerns
  • Therefore, the XRP price is believed to maintain a consolidated upswing to reach $0.85, the upper resistance of the channel. If the bulls maintain some strength, then the possibility of reaching $1 may become stronger if the price rises beyond $0.95. 

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