- October 29, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Ripple (XRP) & Cardano (ADA) Price Analysis: Are They Worth Investing In This Bull Run? appeared first on Coinpedia Fintech News
After recording a negative start, the crypto market has experienced a strong bullish recovery over the past few hours. However, top tokens such as ADA and XRP have recorded stable gains by adding less than 2% and 4% in their respective portfolios.
With the latest partnerships and planned updates, are XRP and ADA cryptocurrencies worth investing in for the upcoming bull market? In this article, we have covered the short-term price prospects of the most underrated projects in the crypto world.
Ripple (XRP)
The XRP price has successfully retested its important support level of $0.480. This has resulted in it adding 7.26% in valuation over the past 100 hours. With a 24-hour trading volume of $957.74M and a value above $0.52, the 7th largest crypto is on the verge of retesting its important zone.
The Simple Moving Average (SMA) is on the verge of experiencing a bullish convergence in the 1D time frame. Further, with a similar price trend in the MACD indicator, the Ripple price hints at a positive outlook this November.
If the crypto market favors the bulls, this could potentially push the XRP coin price toward its resistance level of $0.560. Moreover, an intensified bullish action could result in it heading toward its upper resistance level of $0.630 during the upcoming weeks.
Wondering when will XRP crypto reclaim the $1 mark, Read our Ripple (XRP) Price Prediction up to 2030 to uncover the long-term price prospects!
Cardano (ADA)
After trading under a bearish sentiment for a brief period, the ADA price has regained momentum by adding ~4% to its portfolio in the past day. With this, the altcoin has successfully retested its crucial support level in the 1D time frame.
The ADA coin price is on the verge of retesting its EMA 50-day. This indicates an increase in the price action for the altcoin in the crypto space. Moreover, the RSI indicator has experienced a bullish convergence in the 1D time frame, suggesting that the price may continue gaining momentum.
Maintaining a bullish price sentiment could set the stage for the Cardano price to retest its important resistance level of $0.4075. Conversely, a negative action could pull the price toward its crucial low of $0.3300 in the coming time.
