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Activity on XRP network soars to record highs
XRP network is seeing remarkable activity spikes this week. It has been reported that there have been significant increases in the address activity of XRP network in the last two days, on the issue brought up by the blockchain analysis firm Santiment. So much so that Santiment determined that the network recorded the 2nd and 3rd highest address activity growth in its history for two days.
With this increase in activity, which excites XRP community, it seems that the price of the cryptocurrency has started to rise. XRP stepped into the 0.5 dollar band, while continuing with a positive divergence among the largest cryptocurrencies with an increase of close to 5% today.
This increase in activity, which led to increased positive sentiment in XRP market, was previously recorded on March 18. Santiment shared on Twitter that after the increase in network activity on March 18, XRP recorded a value increase of close to 50% in the following days. In the event of the same scenario, it is expected that XRP will once again outperform the market average.
Ripple, which has been issuing assets in the latest developments regarding XRP, has recently made a new move to increase its market share in the field of CBDC and tokenization, while revealing its growth target with company and share purchases. In addition, the expectation that the litigation process between the SEC and Ripple has come to an end has increased.
Market commentators, on the other hand, keep their expectations strong for XRP, regardless of the SEC lawsuit. Finally, CryptoLaw founder and staunch XRP advocate John Deaton shared the view that individual investors will not participate in the rally until XRP reaches $2.
#Bykaranteli# #GateioBountyCreator# #ContentStar# #BountyCreator# #Gateio10周年# #NewYearCelebration# #GateioTurns10# #CryptoObserves# CARDANO PRICE ANALYSIS CMP-$0.3800: "ADA Price Forecast: $0.5 within Reach as Cardano Gains Traction"
During the last three weeks, Cardano's price has shown stability, maintaining a consistent level above the support trendline of the channel pattern.
Throughout this period, investors and traders have actively accumulated assets at this dynamic support level. This increased accumulation has led to a positive change in market sentiment, evident in the bullish reversal witnessed on the daily chart.
Cardano's value is surging beyond $0.380 against the US Dollar, following a similar trajectory as Bitcoin. If the $0.385 resistance level is convincingly surpassed, ADA's price might experience a significant rally. This week, Cardano's value initiated a consistent uptrend, surpassing the $0.362 resistance area against the US Dollar. The ADA/USD pair exhibited momentum, breaching the $0.370 and $0.375 thresholds.
In addition, the 4-hour chart revealed a breakthrough of a significant bearish trend line with resistance around $0.3700. The bulls managed to drive the price above the $0.380 resistance level. However, as the price approached $0.385, the bears emerged, leading to a high point near $0.3863, followed by a corrective decline.
Cardano experienced a minor drop below $0.382, briefly dipping below the 23.6% Fibonacci retracement level of the upward movement from the $0.3535 swing low to the $0.3863 high. Despite this, ADA's price remains above $0.370 and the 100-hourly simple moving average, indicating positive indications above the $0.380 level.
The immediate resistance around the $0.3850 level, followed by a significant resistance near the $0.3880 zone. If there is a decisive breakthrough above the $0.3880 resistance, it could potentially trigger a robust upward movement towards the $0.400 mark. Further upward momentum beyond $0.400 might propel the price towards the resistance levels at $0.420 or potentially even $0.432.
In the event that ADA fails to surpass the resistance levels at $0.385, there is a possibility of a renewed downtrend. It is expected that the immediate support on the downside will be near the $0.3760 level. Following this, the next notable support level is situated around $0.368, which aligns with the 50% Fibonacci retracement level of the recent price movement, ranging from the swing low of $0.3535 to the high of $0.3863. If the price breaks below the $0.368 level, it could potentially trigger a fresh decline towards $0.354.
Price Analysis predicts that the market capitalization of this ADA will be $13,279,967,145. The 24-hour trading volume of the coin is around $171,044,381.
KEY LEVELS :
RESISTANCE LEVEL : $0.3900-$0.4000
SUPPORT LEVEL : $0.3700-$0.3550
"Could the ongoing recovery phase of $ADA have the potential to reach $0.5? Additionally, if such an increase is probable, would it be a favourable moment to contemplate investment? We value your valuable insights and opinions, which can be shared in the comments section below."
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.$ADA$ #GateioTurns10##GateioTurn10 #10YearsOfGateio
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