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Good News for Ripple (XRP) and Cardano (ADA) Investors: Details

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TL;DR

  • Although both ADA and XRP are down on a weekly scale, their performance could reverse in the short term, as suggested by a popular metric that has flashed a buy signal.
  • Interestingly, the projects behind both assets have been linked in the past and are expected to announce a joint venture soon.

ada_v_xrp_cb

The metric in question, brought by popular crypto analyst Ali Martinez, is the TD Sequential, which showcases whether an asset has reached an exhaustion point in either direction.

For XRP, the indicator has flashed a buy signal on the 4-hour chart, which could suggest “the start of a short-term rebound,” said Martinez.

Ripple’s cross-border token experienced a sharp and brief uptick earlier this week when company CEO Brad Garlinghouse announced a victory in the legal case against the SEC. XRP went from $2.3 to $2.6 within an hour or so but failed to keep the momentum up and has retraced to under $2.4 now.

The same indicator posted a similar buy signal when it came down to ADA, according to the 4-hour chart, showing that a rebound could be on the horizon.

ADA has struggled in the past month or so, losing over 10% of its value and currently struggling to remain above $0.7. Previously, Martinez said the asset could skyrocket to $2, but it has to close above $1.2 on the daily chart, which seems like a distant dream now.

XRP and ADA have been linked on numerous occasions in the past several months. US President Trump mencionó them, alongside SOL, ETH, and BTC, in regard to the suggested strategic crypto reserve in the country.

Additionally, Charles Hoskinson and Ripple execs have been exchanging kind words since the US elections, hinting on multiple occasions about a potential collaboration between the two parties. However, nothing official has been made public yet.

El puesto Good News for Ripple (XRP) and Cardano (ADA) Investors: Details apareció por primera vez en CryptoPotato.

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