Cardano (ADA) Price Analysis
Cardano has shown a noticeable rally over the past few days as the price underwent a parabolic rally to gain the levels it was trading before the market collapsed in November. However, after breaking above $0.35, it was speculated that the price might climb beyond $0.4, but the Genesis debacle might prevent a giant move north.
ADA price completed the parabolic recovery and despite a minor correction to form a cup and handle pattern, it surged to reach the intermediate resistance. Therefore, a rejection then seemed imminent which happened in the last few days. Currently, the price is trading in crucial levels of resistance turned into support. If these levels are not maintained, a significant drop could take the price near $0.3 in the next few days.
Ripple (XRP) price analysis
Short-term Ripple price is showing a sense of strength as price levels swing within the same levels of resistance and support. The recent rally has not amplified price levels to a large extent as it has with other altcoins. Therefore, the possibility of a rebound emerges as the bulls seem to hold noticeable strength to trigger a rebound.
XRP price is testing crucial price levels at the 200-day MA, clearing which may induce strong bullish momentum within the asset. However, market sentiments have turned slightly bullish, which may force the price to drop below these levels. Therefore, if the Genesis fiasco has a large impact on the crypto space, a slightly lower drop to $0.34 can be expected, otherwise the price can remain consolidated until the next move elevates the price beyond the range of the bears.
