Altcoins
Ripple (XRP) and Cardano (ADA) lead altcoin rally targeting $1 milestone By The News Crypto
Crypto News –
- The cryptocurrency market has seen a strong rebound in terms of valuation.
- The price of (ADA) has broken above its important resistance level, with technical indicators such as RSI and MACD suggesting a bullish outlook.
- XRP has seen its highest price increase in over 4 months.
As the bullish recovery of the cross-border payment system gains momentum, the cryptocurrency market has witnessed a strong recovery in its valuation.
The price successfully reclaimed the crucial $60,000 mark, signaling growing positive sentiment in the cryptocurrency sector.
In the wake of this development, major altcoins have mirrored the price action, adding significant value to their respective portfolios. In particular, ADA and ADA have emerged as the best performers among the top 10 cryptocurrency tokens over the past week.
For investors concerned about the future price trajectory and potential roadmap for ADA and XRP to hit the coveted $1 milestone, this article provides an in-depth analysis of the market sentiment and price action of these two altcoins.
Cardano (ADA) Price Breaks Above Key Resistance Level
Cardano (ADA) is on a strong rise, registering a 5.11% jump in the last 24 hours and an impressive 17.55% increase in the last week.
The altcoin has managed to maintain a positive price trend for six consecutive days, surpassing its important resistance level and indicating a growing bullish sentiment.
The Moving Average Convergence Divergence (MACD) indicator shows an increasing pattern in its green histogram, with its averages recording a bullish action. This suggests that the ADA cryptocurrency will continue to increase in value in the coming days.
If the market maintains its bullish sentiment, ADA price is expected to test its upper resistance level of $0.50.
XRP Token Sees Highest Daily Price Increase in Over 4 Months
Amidst increased price volatility in the cryptocurrency market, XRP price has seen an impressive 8.35% jump in the past day, accompanied by a trading volume of $1.815 billion. Despite the current market turbulence, this altcoin has surged 17.20% in the past week and 5.39% in the past month.
The relative strength index (RSI) has seen a sharp increase and is steadily heading towards the overbought range, indicating growing bullish sentiment.
Furthermore, the MACD indicator recorded a sharp increase in the green histogram, with its averages registering a bullish convergence.