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The crypto market crossed the $2 trillion market cap milestone as Bitcoin prices soared above $52,000 and approached nearly $53,000. This is when the price of Ripple (XRP) approached $0.6, while the price of Cardano (ADA) surpassed it and reached $0.64. Additionally, both tokens have faced bearish heat, but the current trading pattern suggests that XRP could reach $1 well ahead of ADA.
Cardano (ADA) Price Analysis
- The weekly ADA price chart shows that the token is on the verge of a parabolic recovery after the 2021 bear market.
- However, the token is facing immense difficulties in surpassing $0.68, which has become one of the crucial resistances to reach
- The bears managed to keep the price restrained throughout the week, but the upcoming weekly close could turn things around for the token.
- The StochRSI is giving bullish signals, which could initially push the levels above $0.9 and if the bulls manage to hold at these levels, a rise beyond $1 could be possible somewhere from here the end of the third trimester.
Ripple (XRP) Price Analysis
- Being a bit different from ADA price, XRP price shows strong variations, trading within an ascending parallel channel.
- The rebound from lower support suggests the resurgence of the bulls and if volume sustains, a huge god candle could form, heading towards the upper resistance of the channel.
- The bullish StochRSI could certify the bullish rebound but the draining volume could raise some concerns.
- Therefore, XRP price is expected to maintain a consolidated rise to reach $0.85, the upper resistance of the channel. If the bulls maintain some strength, the possibility of reaching $1 could become stronger if the price rises above $0.95.
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