XRP or ADA, Which Altcoin Will Reach $1 First?
With the bullish recovery in the cross-border payment system, the cryptocurrency market showed strong growth back in the review. In addition, the price of Bitcoin has successfully returned to the $60,000 mark, which shows a positive impact on the crypto space.
Following this, top altcoins showed similar price action with significant increases in their respective portfolios. Moreover, XRP and ADA coins are among the top 10 crypto tokens that have gained the most in the past week.
Concerned about the future price action and roadmap for ADA and XRP price to reach the $1 mark? Fear not, in this article, we have covered the market sentiment and price analysis of these two altcoins.
The price of ADA coin will break from the necessary resistance level:
With a jump of 5.11% in the previous day and 17.55% in the last week, Cardano price has regained momentum, registering six consecutive days of positive price action. Moreover, the altcoin has passed the important resistance level, which indicates an increase in bullishness.
The technical indicator RSI has successfully breached the neutral point, indicating an increase in overbought pressure in the crypto space. Moreover, the average trend line shows a pronounced convergence in the 1D time frame.
The moving average converging divergence (MACD) shows a rising pattern in the green histogram, with the averages recording bullish action. This indicates that ADA crypto will continue to gain value in the future.
If the market continues to trade on high sentiment, the price of ADA will be set to test the $0.50 high resistance level. Conversely, if the bears regain momentum, the Cardano token will drop to a low of $0.4075.
XRP Token Records Single Highest Price Increase in Over 4 Months:
Due to the increasing price volatility in the cryptocurrency market, the price of XRP registered a jump of 8.35% in the previous day with a trade volume of 1.815 billion dollars. Moreover, despite the ongoing market turmoil, this altcoin rose 17.20% in the last week and 5.39% in the last month.
The Relative Strength Index (RSI) has seen a sharp rise and is steadily moving towards the overbought region, indicating increased bullishness.
Moreover, the MACD indicator showed a sharp increase in the green histogram and the averages register a bullish convergence. This shows a bullish outlook for the XRP coin price in the market.
If the market holds the price of Ripple above the important support level of $0.488, the bulls will be ready to test the upper resistance level of $0.630 next time. However, in case of a trend reversal, the XRP token may retest its critical support level.
A final note:
With a jump of 17.20% in the past seven days, XRP crypto needs a 94.07% increase to reach the $1 mark, taking into account the current trading price of $0.5153. However, ADA coin price needs a 137.75% price increase to achieve the target with a trading price of $0.4206.
