The post XRP, ADA Journey to $5 Delayed as Market Shifts Attention to PEPE and Rexas Finance appeared on BitcoinEthereumNews.com.

Fluctuating market sentiment has hampered the widely expected rises of XRP and Cardano (ADA) to $5. This has drawn investors’ attention to PEPE and Rexas Finance (RXS), a disruptive real-world asset tokenization project with an impressive presale run. With the cryptocurrency market flashing contradictory signals, traders emphasize projects with explosive potential and unique ecosystems. XRP and Cardano Rally Delayed Rising by more than 13% last week to a high of $2.66, Ripple’s XRP has run across opposition and dropped to $2.46. According to Santiment’s Network Realized Profit/Loss (NPL) indicator, many holders are in profit, which drives selling pressure. On-chain data shows that XRP holders made substantial profits on December 1, repeating a similar event in May 2021, which resulted in a 35% correction. Analysts believe that until XRP breaks over $3, its short-term downside will challenge the psychological $2.00 support. Similarly, Coinglass data shows XRP’s long-to-short ratio at 0.85, the lowest it has been in a month, indicating that more traders are banking on a price drop. This sentiment represents bull weariness, which is reinforced by a daily RSI reading of 70, indicating overbought conditions. If XRP falls below $2.35, analysts warn that it will consolidate further before attempting to recapture its all-time high of $3.40 and establish a strong rally toward $5. Similarly, Cardano (ADA) is struggling with bearish momentum, falling below $1 for the first time in weeks. Its ADX rating of 41.2 indicates a significant downturn, and ADA is below a red Ichimoku Cloud, a classic bearish indication. Analysts predict that ADA will challenge support at $0.87, $0.65, or even $0.519 unless positive momentum resumes. While a return to $1.11 could reverse the present trend, the lack of favorable signals makes ADA investors hesitant in the short term. Should ADA finally buck the downside pressure and flip…

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Filed under: News - @ December 19, 2024 5:21 pm