Altcoins
XRP or ADA: Which Altcoin Will Hit $1 First?
With the bullish recovery in the cross-border payment system, the cryptocurrency market has shown a strong rebound in its valuation. In addition, the Bitcoin Price has successfully reclaimed the $60,000 milestone, highlighting a growing positive influence in the cryptocurrency industry.
Following this, major altcoins showed similar price action adding significant valuation to their respective portfolios. Additionally, XRP and ADA coins recorded the highest gains among the top 10 cryptocurrency tokens over the past week.
Worried about the future price action and potential roadmap to reach the $1 milestone for ADA and XRP price? Fear not, because in this article we have covered the market sentiment and price analysis of these two altcoins.
ADA coin price breaks above its important resistance level:
With a jump of 5.11% in the last day and 17.55% in the last week, the Cardano Price has successfully regained momentum by recording positive price action for six consecutive days. Furthermore, the altcoin has broken above its important resistance level, indicating a growing bullish sentiment.
TradingView: ADA/USDT
The technical indicator, RSI, has successfully breached its neutral point, highlighting an increase in buying-selling pressure in the cryptocurrency space. In addition, the average trend line shows a bullish convergence in the 1D time frame.
The Moving Average Convergence Divergence (MACD) shows an increasing pattern in its green histogram with its averages recording a bullish action. This suggests that the ADA cryptocurrency will continue to gain value in the near future.
If the market continues to trade with a bullish sentiment, ADA price will prepare to test its upper resistance level of $0.50. Conversely, if the bears regain momentum, Cardano token will fall towards its low of $0.4075.
XRP token sees single highest price increase in over 4 months:
Amid increasing price volatility in the cryptocurrency market, XRP Price has seen a 8.35% jump in the last day with a trading volume of $1.815 billion. Furthermore, despite the current market turbulence, this altcoin is up 17.20% in the last week and 5.39% in the last month.
TradingView: XRP/USDT
The relative strength index (RSI) has seen a sharp increase and is steadily heading towards the overbought zone, indicating an increase in 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 holds 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 near future. However, if the trend reverses, XRP token could retest its crucial support level.
Final note:
With a 17.20% jump in the past seven days, XRP cryptocurrency needs a 94.07% surge to reach the $1 milestone, taking into account its current trading price of $0.5153. While ADA coin price with a trading value of $0.4206 needs a 137.75% price surge to reach its target.