The post Will Ripple (XRP) And Cardano (ADA) Price Hit ATH In 2024? appeared first on Coinpedia Fintech News
With the increased price volatility and the market leader, Bitcoin, successfully breaking out of its resistance level at $65,000, the crypto industry continues to trade under a strong bullish influence, with top tokens displaying significant jumps in their respective valuation.
On the other hand, the altcoins have gained massive momentum and recorded a huge uptrend in the chart, with some tokens experiencing multiple folds in gains. Cardano (ADA) and Ripple (XRP) have added 37% and 20% over the past seven days, highlighting a positive price action for these altcoins in the coming time.
Ripple (XRP) Price Analysis:
After trading under a bearish influence for a month, the XRP price has recorded a significant price action over the past 30 days, indicating a rise in the investor’s interest. The Ripple price has added over 3% within 24 hours and 25% over 30 days.
The altcoin is presently testing its major resistance/support level of $0.62, and with the bullish sentiments hovering over the industry, the coin is predicted to breach the level successfully.
TradingView: XRP/USDT
Further, despite its notable price action, the XRP token needs a surge of over 500% to surpass its $3.84 mark and achieve a new all-time high (ATH). Ripple (XRP) currently has a target of $1, which is expected to be tested within the upcoming months.
The technical indicator, MACD, displays a rising green histogram, indicating a bullish influence in the crypto space. Further, the averages show a bullish convergence, suggesting a positive price action for the altcoin in the coming days.
Cardano (ADA) Price Analysis:
The ADA coin price, on the other hand, has displayed a stronger bullish influence by adding approximately 10% within the past 24 hours and 56.5% over the past 30 days, making it one of the best performers among the elite crypto coins.
Cardano’s ADA token has successfully breached its resistance level at $0.633 recently and is on the path to testing its next major resistance level of $0.8585. With a 33.85% Year-to-Date (YTD) gain, the altcoin is expected to test its upper level by the month-end.
TradingView: ADA/USDT
To record a new ATH, the ADA coin price needs a massive jump of over 290% to its current valuation of $28.23 Billion. Despite the market sentiments displaying significant bullish influence, ADA token recording a new ATH anytime soon is highly hypothetical.
However, the Moving Average Convergence Divergence (MACD) displays a constant rise in the green histogram, indicating an increase in the buying pressure within the crypto market. Further, the averages show a bullish convergence, suggesting a positive price movement in the upcoming weeks.
Conclusion:
The crypto industry trades under a strong bullish influence, with many tokens recording significant uptrends in their respective portfolios. However, both ADA and XRP tokens are far from achieving a new ATH anytime soon. However, both the altcoins are predicted to attempt to test the $1 mark this year.
NOTE: This article was made only for research purposes and is not a piece of financial advice or any promotion towards an individual cryptocurrency of category. Make sure to do your own research before investing in any digital assets.
