Cardano (ADA) and XRP are not having the best of times as of now. Cardano (ADA) has fallen by 5.1% over the previous week, while XRP has fallen by 4.8% in the same time frame. However, there might be a chance that the tokens could climb ever so slightly around mid-September.
ADA faces immediate resistance at around $0.25, with support at around $0.23. However, current levels do not have a lot of volume to support the price. Moreover, the token’s Fibonacci Retracement pointed to a climb to around $0.26 before making any further moves. The $0.26 level also has a good amount of volume to offer support. ADA’s RSI is currently at 36, more towards the oversold territory, which supports the narrative of prices moving higher. Moreover, MACD in the 4-hour chart also shows that bulls are in control at the moment.
Also Read: Cardano: ADA Could Rise to $0.26 Before Facing Consolidation
Will XRP follow Cardano’s (ADA) trajectory?
XRP faces immediate resistance at around $0.50, with support at around $0.46. XRP, like Cardano (ADA), has been on a downward trajectory for some time. However, the token’s Fibonacci Retracement points to it going up to about its current resistance level, $0.50, before making any moves. The RSI is currently at 33, which supports a possible upward movement. It is possible that the token will face rejection at its resistance and head back down again. MACD shows that bears are in charge in the 4-hour chart, but it has yet to follow through. There is also a chance the token could consolidate at around $0.50, as there is considerable volume at that level.
Also Read: Japan’s SBI Confirms XRP Utility for International Remittance
At press time, Cardano (ADA) was trading at $0.244371, down by 0.5% in the last 24 hours, while XRP was trading at $0.478227, up by 0.3% in the last 24 hours.
