Will Ripple (XRP) And Cardano (ADA) Price Hit ATH In 2024?

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Written By Pinang Driod

With the increased price volatility and the market leader, Bitcoin, successfully breaking out of its resistance level at $65,000, the crypto industry continues to trade under a strong bullish influence, with top tokens displaying significant jumps in their respective valuation.

On the other hand, the altcoins have gained massive momentum and recorded a huge uptrend in the chart, with some tokens experiencing multiple folds in gains. Cardano (ADA) and Ripple (XRP) have added 37% and 20% over the past seven days, highlighting a positive price action for these altcoins in the coming time.

Ripple (XRP) Price Analysis:

After trading under a bearish influence for a month, the XRP price has recorded a significant price action over the past 30 days, indicating a rise in the investor’s interest. The Ripple price has added over 3% within 24 hours and 25% over 30 days.

The altcoin is presently testing its major resistance/support level of $0.62, and with the bullish sentiments hovering over the industry, the coin is predicted to breach the level successfully.

TradingView: XRP/USDT

Further, despite its notable price action, the XRP token needs a surge of over 500% to surpass its $3.84 mark and achieve a new all-time high (ATH). Ripple (XRP) currently has a target of $1, which is expected to be tested within the upcoming months.

The technical indicator, MACD, displays a rising green histogram, indicating a bullish influence in the crypto space. Further, the averages show a bullish convergence, suggesting a positive price action for the altcoin in the coming days.

Cardano (ADA) Price Analysis:

The ADA coin price, on the other hand, has displayed a stronger bullish influence by adding approximately 10% within the past 24 hours and 56.5% over the past 30 days, making it one of the best performers among the elite crypto coins.

Cardano’s ADA token has successfully breached its resistance level at $0.633 recently and is on the path to testing its next major resistance level of $0.8585. With a 33.85% Year-to-Date (YTD) gain, the altcoin is expected to test its upper level by the month-end.

ADA Price Analysis
TradingView: ADA/USDT

To record a new ATH, the ADA coin price needs a massive jump of over 290% to its current valuation of $28.23 Billion. Despite the market sentiments displaying significant bullish influence, ADA token recording a new ATH anytime soon is highly hypothetical.

However, the Moving Average Convergence Divergence (MACD) displays a constant rise in the green histogram, indicating an increase in the buying pressure within the crypto market. Further, the averages show a bullish convergence, suggesting a positive price movement in the upcoming weeks.

Conclusion:

The crypto industry trades under a strong bullish influence, with many tokens recording significant uptrends in their respective portfolios. However, both ADA and XRP tokens are far from achieving a new ATH anytime soon. However, both the altcoins are predicted to attempt to test the $1 mark this year.

NOTE: This article was made only for research purposes and is not a piece of financial advice or any promotion towards an individual cryptocurrency of category. Make sure to do your own research before investing in any digital assets.

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