• This article analyzes the performance of Cardano (ADA) and Ripple (XRP), two of the top altcoins, in order to determine which one is more likely to bear the brunt of a shrinking crypto market.
• The article looks at recent price action and uses technical indicators like RSI to make its assessment.
• It concludes that while both tokens are currently under pressure, XRP could rebound from support levels and rise beyond $0.4 soon.
This article provides an analysis of Cardano (ADA) and Ripple (XRP), two of the top altcoins, to discover which cryptocurrency is likely to bear the brunt of a shrinking crypto market cap. By looking at recent price action and using technical indicators like RSI, we can make an educated assessment as to which token will be hit hardest by a bear squeeze in the crypto space.
Cardano (ADA) Price Analysis
Cardano (ADA) has experienced significant gains since early 2021, increasing by over 70%. However, it has seen considerable bearish pressure during the past couple of days, resulting in a notable drop in prices. Market experts believe that despite this short-term setback, ADA could still experience a recovery; however its current trade setup is still bearish and suggests further downward movement towards $0.3 levels. Furthermore, RSI appears to be forming lower highs and lows – indicating that ADA may remain under bearish pressure for some time yet.
Ripple (XRP) Price Analysis
Ripple’s price continues to trade within a symmetrical triangle formation and may approach the edge during this weekend’s trading session. This trend is showing bullish signals as indicated by rising RSI levels alongside an increase in price – suggesting that XRP could rebound from support levels soon enough. If it manages to do so, it could push past $0.4 with ease before reaching its target resistance level near $0.45 by the end of February 2021
The overall sentiment for both Cardano (ADA) and Ripple (XRP) remains slightly pessimistic due to their respective drops in prices recently; however they appear poised for recovery as well if they can break out from current consolidation patterns soon enough. Currently though, XRP appears more likely than ADA to experience such a bounce-back – although only time will tell whether or not this prediction holds true!