Cardano (ADA) And Ripple (XRP) Could Rally This October By CoinEdition

0
27


Cardano (ADA) And Ripple (XRP) Could Rally This October
  • ADA and XRP are likely to rally this month after major developments for both projects.
  • XRP’s lawsuit may be coming to an end and XRP may win the 2-year case.
  • ADA’s price has entered into a consolidation phase on its weekly chart.

Two altcoins in the market that a lot of investors are keeping an eye on are (XRP) and (ADA). Exciting developments have recently taken place in Ripple’s lawsuit with the SEC that could see matters turn in favor of the remittance token. When it comes to ADA, the recent Vasil upgrade will see the network be able to scale to new heights.

With October being a month that has seen the crypto market rally historically, these two altcoins could see dramatic increases in their prices. Of course, current macroeconomic circumstances are hindering the upwards potential of the crypto markets this October.

Nevertheless, the latest milestones for XRP and ADA could prove to have a positive effect on their prices that could prove too strong for the current global financial market situation.

At the time of writing, the crypto market tracking website CoinMarketCap shows that XRP is trading at $0.4864 and ADA is trading at $0.4338. Both coins are included in CoinMarketCap’s list of the biggest crypto projects by market cap, with XRP ranked at number 6 and ADA ranked two positions lower at number 8.

XRP’s price has climbed 6.06% over the last 24 hours. On the other hand, ADA has only been able to post a 0.81% gain over the time period. XRP has also outperformed ADA on the weekly chart as XRP is up 14.97% for the week and ADA is only up 0.90%.

ADA/USDT weekly chart (Source: CoinMarketCap)

ADA’s price has been in a decline ever since the beginning of this bear market, which can be seen in ADA’s weekly chart. However, the price of ADA has entered into a consolidation pattern over the last couple of months. This suggests that ADA has set its price bottom for the market.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Cardano (ADA) And Ripple (XRP) Could Rally This October appeared first on Coin Edition.

See original on CoinEdition



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here