What’s Next For Ripple (XRP) And Cardano (ADA) As Crypto Market Crash!

The post What’s Next For Ripple (XRP) And Cardano (ADA) As Crypto Market Crash! appeared first on Coinpedia Fintech News

With the rising FUD for a global recession around the world, the cross-border markets have experienced a significant correction in their respective portfolios. Moreover, market leader Bitcoin price has recorded a 24-hour low of $49,121.29.

Following this, top altcoins have recorded a similar price action and have plunged below their important support levels. Ripple’s XRP and Cardano’s ADA tokens were among the top losers for the day.

With questions like “Will XRP price ever reach $1?” and “XRP or ADA, which altcoin will hit $1 first?”, the market has entered into a Fear, Uncertainty, and Doubt-like situation.

Dive in as, in this article, we have covered the market sentiments, price analysis, and possible short-term price targets of Ripple (XRP) and Cardano (ADA) for the upcoming time.

Ripple (XRP) Price Action:

The XRP price has recorded a significant correction of approximately 15% over the past week. Moreover, with the recent market correction, this altcoin has recorded a low of $0.4335 with a trading volume of over $3.55 Billion. However, the Ripple price has held its price above its important support and is presently trading with a price tag of $0.5119.

TradingView: XRP/USDT

The technical indicator, MACD, displays a sharp rise in the red histogram, indicating an increase in the selling pressure. Furthermore, the averages show a constant decline, suggesting a bearish outlook for the Ripple price this week.

The RSI indicator has failed to surpass its overbought range with its average trendline recording a bearish curve. This highlights increased selling pressure within the crypto market.

If the market holds the XRP price above its support level of $0.4880, the bulls will prepare to test its upper resistance level of $0.630 this month. Conversely, if the bears continue to dominate the market, the Ripple token will plunge toward its low of $0.420.

Cardano (ADA) Price Action:

Following in the footsteps, the ADA coin price has recorded a similar price action. Notably, this altcoin has plunged approximately 20% within the past seven days and is currently valued at $0.3264 with a market capitalization of $11.731 Billion, a change of +4.39% over the past 24 hours.

TradingView: ADA/USDT

The Relative Strength Index (RSI) is on the verge of surpassing its oversold range in the 1D time frame. Moreover, the MACD shows a constant rise in the red histogram with its averages recording a bearish action. This suggests a weak price action for the altcoin in the coming time.

If the bulls regain momentum, the ADA price will prepare to test its upper resistance level of $0.50 this month. However, in case of a bearish sentiment, the Cardano price could retest its low of $0.2410.