Cardano

bullish

Strong

XRP and Cardano (ADA) have been drawing significant investor attention with their recent upward momentum, approaching the highly anticipated $1 psychological level. XRP’s surge in trading volume, alongside developments in the ongoing Ripple-SEC lawsuit, and ADA’s growing market interest point to a promising outlook for both tokens. Technical analyses also support long-term positive price expectations. 
<a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="size-full wp-image-28237 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/Qubetics-is-728x90-1-3.jpg" alt="Qubetics is 728x90 1 3" width="728" height="90" title="Strong Rally for XRP and Cardano: When Will They Hit $1? 55"></a> 
<h2 id="xrp-and-ada-s-recent-performance-and-market-impact">XRP and ADA’s Recent Performance and Market Impact</h2> 
XRP and ADA have seen impressive gains recently, with XRP climbing 6% in the last 24 hours to reach $0.60, while ADA posted a striking 20% increase to match the same price level. As they approach $1, both tokens continue to attract interest across the crypto market. XRP’s 24-hour trading volume soared to $3.35 billion, signaling robust investor interest. XRP’s market cap is now at $34.38 billion, with a circulating supply of 56.87 billion tokens out of a max supply of 100 billion. 
Technical indicators reveal a solid stance for XRP in the market. XRP’s Relative Strength Index (RSI) stands at 72.82, indicating an overbought condition, though the current momentum suggests this trend could continue. The MACD indicator also signals a bullish trend with widening lines between the MACD and signal line, supporting continued upward momentum.<img loading="lazy" decoding="async" class="size-full wp-image-28608 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/unnamed-7.png" alt="unnamed 7" width="1297" height="759" title="Strong Rally for XRP and Cardano: When Will They Hit $1? 56" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/unnamed-7.png 1297w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/unnamed-7-768x449.png 768w" sizes="(max-width: 1297px) 100vw, 1297px"> 
<h2 id="ada-s-impressive-momentum">ADA’s Impressive Momentum</h2> 
Cardano (ADA) has similarly gained momentum, with its 24-hour trading volume reaching $4.35 billion and a market cap of $21.54 billion. ADA’s RSI is at 73.04, also placing it in the overbought zone, while its MACD shows a positive histogram, reinforcing an upward trend. The significant 67% increase in open interest for ADA in the derivatives market reflects strong investor expectations for ADA’s future performance.<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-28606" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/unnamed-8.png" alt="unnamed 8" width="1389" height="769" title="Strong Rally for XRP and Cardano: When Will They Hit $1? 57" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/unnamed-8.png 1389w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/unnamed-8-768x425.png 768w" sizes="(max-width: 1389px) 100vw, 1389px"> 
<h2 id="external-factors-and-legal-developments">External Factors and Legal Developments</h2> 
In addition to market factors, external influences are impacting XRP and ADA’s growth. Donald Trump’s recent election as U.S. President has fostered a positive sentiment in the broader market. XRP’s price is closely linked to updates in the Ripple-SEC case, as the legal battle remains a key factor in its valuation. Additionally, ADA’s visibility has increased as Cardano founder Charles Hoskinson becomes more prominent in political and social discussions. 
<h2 id="derivatives-markets-and-investor-sentiment">Derivatives Markets and Investor Sentiment</h2> 
XRP and ADA are seeing increased activity in derivatives markets as well. XRP’s derivatives volume reached $2.92 billion, with short liquidations exceeding $3 million. ADA has shown a 468% rise in derivatives volume, with $10 million in short liquidations, indicating a tightening short squeeze and stronger bullish expectations. Major exchanges like Binance and OKX report XRP long/short ratios above 3:1, with ADA also seeing a strong preference for long positions. 
<h2 id="long-term-price-forecasts">Long-Term Price Forecasts</h2> 
Technical analysis supports the long-term positive outlook for XRP and <a href="https://www.turkishnyradio.com/why-is-xrp-still-on-investors-radar-despite-an-80-drop-analysts-weigh-in/" target="_blank" rel="noopener">ADA</a>. XRP is projected to trade between $0.535 and $0.636 by the end of 2024, with an average price of $0.586. By 2026, XRP may rise to $1.42. For ADA, price expectations are set between $0.348 and $0.418 in 2024, potentially reaching $1.32 by 2027.

Strong Rally for XRP and Cardano: When Will They Hit $1?

Table of Contents

TNYR

Other articles published on Nov 11, 2024

FTX Seeks Compensation in Major Lawsuits Against Binance and CEO Zhao

MicroStrategy Buys $2B More in Bitcoin at $74,463 per Coin

X Empire price is surging, but a risky pattern points to a 65% crash

Want Big Returns? These 5 Meme Coins Could 10,000x, Turning $200 Into $2 Million!

Standard Chartered Forecasts Solana to Reach New All-Time High Above $260 by Late 2024

Truflation launches GameFi Index to track hottest gaming tokens

Join our free newsletter for daily crypto updates!