XRP Following Cardano’s (ADA) Path to $2?

  • August 14, 2021

XRP Following Cardano’s (ADA) Path to $2?

XRP Following Cardano’s (ADA) Path to $2?

Almost every coin was riding the moon train. XRP, Cardano [ADA], and a slew of other altcoins demonstrated their dominance. Bitcoin [BTC] wasn’t far behind, with the king currency breaking free from its $45K cap and moving to $46K. Although BTC did not make any significant gains in the last 24 hours, the asset’s market capitalization was finally approaching $900 billion.

Cardano [ADA] was undeniably the star of the show yesterday. The altcoin’s meteoric rise to $2 astounded the entire market. Over the last seven days, ADA has gained 45 percent of its value. ADA even dethroned and replaced the Binance coin [BNB] as the third-largest cryptocurrency. This increase was attributed to the company’s launch of a smart contract platform. Another coin experienced a watershed moment.

XRP was able to break through a significant line of resistance at $1 and finally push past it. The altcoin gained 10.46% in the last 24 hours, bringing its price to $1.14 at the time of writing. XRP, like ADA, had profited by 44 percent for the week.

XRP was valued at $53.28 billion in market capitalization, making it the fifth-largest cryptocurrency, just behind Tether [USDT] and ahead of Dogecoin [DOGE].

XRP one-day price chart on Gate.io

xrp, ripple

The positive notion was highlighted by the parabolic SAR signal employed in the altcoin’s one-day price chart. Underneath the candlesticks, the indicator produced dotted lines. This also served as a deterrent to any potential downward breakouts. The Awesome Oscillator indicator followed suit, forming green closing bars, indicating the presence of the bull once more.

The altcoin was overbought, according to the Relative Strength Index [RSI] indicator. Since the 10th of this month, XRP has been overbought. If this belief holds, XRP’s prospects of reaching a $2 increase.

 

Movine Oduor
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