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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Filed under: Bitcoin - @ February 24, 2024 6:21 pm