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Market Outlook: Will XRP and Cardano Reach $2.50 and $0.750 Soon?
Key Insights:
- XRP has demonstrated one of the least robust rallies among the top five cryptocurrencies recently.
- Cardano (ADA) is poised to test two critical resistance levels shortly and may experience a sharp decline if bullish momentum falters.
- XRP bulls continue to encounter persistent resistance, indicating they are not fully out of the woods yet.
In recent developments, other cryptocurrencies have mirrored the movements of XRP and ADA, following announcements from the White House that hinted at a potential easing of tariffs, which helped alleviate some market anxieties.
Simultaneously, former President Trump has softened his criticism towards Federal Reserve Chair Jerome Powell, previously labeling him as a “major loser” for maintaining interest rates.
The Fear and Greed Index has transitioned from an arduous state of Extreme Fear to a more balanced Neutral, reflecting a notable shift in investor sentiment within the cryptocurrency market.
XRP Approaches Significant Support Levels
XRP has surged to $2.30—its highest value in almost a month. Nevertheless, it has yet to break through significant volume levels, particularly the $2.40 point of control (POC).
The fact that XRP remains below the POC indicates that bears continue to dictate momentum. Comparing XRP’s performance with its competitors this week reveals a weaker bullish sentiment.
Even with positive developments—such as the SEC dropping its case against Ripple and the increasing adoption of its stablecoin RLUSD—XRP has not managed to surmount the critical $3 resistance level.
At present, $2 serves as a strong support threshold. Momentum indicators suggest slight bullishness, yet a breakthrough of the $2.40 volume barrier is necessary for XRP to strive toward the $2.70 target.
Cardano (ADA) Faces Significant Resistance
After recovering from a low of $0.510, ADA managed to surpass its 21-day EMA and reached its point of control. However, substantial resistance is still ahead.
ADA now faces the challenge of overcoming former trend line support that has transitioned into resistance. Such retracements are common in bear market rallies.
Despite the current bullish trend, there are ongoing downside risks due to the unpredictable macroeconomic conditions. Traders are advised to proceed with caution; a rejection could rapidly pull ADA back down to $0.510.
Twitter Insights
Market Outlook: Will XRP and Cardano Reach $2.50 and $0.750 Soon – read the full story here: fxempire.com
— FXEmpire (@FXEmpirecom) April 25, 2025
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