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- Cardano has stabilized in the recent market winter for the last 3 months.
- Ripple wales have accumulated over $300m XRP, attributing to stable prices.
- ADA is up by 0.59%, while XRP is up by 2.11% in the last 24 hours.
Cardano and Ripple price movement over the last 3 months has been relatively stable, with both assets finding the bottom and experiencing less volatility than other altcoins. This stability may be attributed to the recent accumulation of XRP by Ripple whales and Cardano’s steady development progress and partnerships.
Cardano 3-month chart, source: Coinmarketcap Bitcoin has been struggling to regain its prior highs since it dropped below $18,000, along with Ethereum and other altcoins, according to data from Coinmarketcap. However, Cardano and XRP have maintained relatively stable prices, with ADA currently sitting at $0.4076 and XRP at $0.4746.
Ripple 3-month chart, source: Coinmarketcap Many traders on the popular trading platform Tradingview have expressed optimism about both assets’ short-term performance, citing bullish technical indicators and potential partnerships as driving forces for a possible price increase.
Over 40,000 BTC were withdrawn from cryptocurrency exchanges in the last few days, possibly pointing to a shift toward alternative coins like ADA and XRP. According to data from Santiment, which tracks on-chain activity, The supply of coins on exchanges is currently down to 8.48% ” which greatly de-risks chances of a future sell-off.
XRP holders feel optimistic again because Ripple might win its securities lawsuit against the SEC. In recent months, whales have bought 300 million XRP, pushing the price up after it stayed low for nearly two years.
Cardano took a big hit regarding negative sentiment after the Vasil upgrade in September didn’t meet expectations. However, the recent hype around Cardano NFTs has caused a massive surge in activity on the blockchain.
On Wednesday, the Twitter page “ADA Whale” reported that network transactions have increased by 75% over the past month, with NFT volumes hitting 3 million ADA and 2.8 million ADA on October 17 and 18th, respectively.
The technical indicators for ADA indicate long-term bullish potential as the 50-day moving average crosses above the 200-day moving average, and many traders are confident in ADA’s short-term price performance. XRP technical indicators suggest a potential bullish breakout, with the 50-day moving average crossing above the 200-day moving average.
Overall, traders are optimistic about XRP and Cardano right now, as both assets show signs of growth in the near future. Despite the recent market winter, both projects have maintained stable prices and accumulated bullish sentiment. With potential developments such as Ripple’s securities lawsuit resolution and Cardano’s NFT progress, both coins could see a surge in price in the coming weeks.
