Thursday, December 8, 2022
 

ADA And XRP In The Red As Bullish Momentum Subsides

  • Ripple (XRP) andCardano (ADA) have seen their prices plunge.
  • The price of XRP is currently $0.3456 after a 7.87% drop in price over the last 24 hours.
  • Cardano is suffering the same fate as it is also in the red this morning.

Ripple (XRP) and the coin that has been in the news a lot lately, Cardano (ADA), have seen their prices plunge as bullish momentum subsides.

The price of XRP is currently $0.3456 after a 7.87% drop in price over the last 24 hours, according to the crypto market tracker, CoinMarketCap. XRP is also down 8.15% over the last seven days.

The 24 hour trading volume for XRP has seen a double digit increase over the last day. However,it is clear that this volume is sell-volume after a selloff was triggered as the end of the week nears.

Cardano is suffering the same fate as it is also in the red this morning. ADA is currently trading at $0.4744 after a 12.20% price decline over the last day. Just like XRP, ADA is also down over the last week by just over 11%.

When it comes to Cardano’s trading volume over the past 24 hours, there is also a sign of a selloff taking place as the volume has increased just over 30% from the day prior.

Cardano / Tether US 1D (Source: CoinMarketCap)
Cardano / Tether US 1D (Source: CoinMarketCap)

On the daily chart of ADA/USDT, the relative strength index indicator (RSI) is a clear indication of the momentum turning drastically for ADA as the RSI line crossed convincingly below the RSI SMA line towards oversold territory.

XRP / TetherUS 1D (Source: CoinMarketCap)
XRP / TetherUS 1D (Source: CoinMarketCap)

The daily chart for XRP/USDT tells the same story as in ADA’s daily chart the RSI line crosses below the RSI SMA line in an almost downwards parabolic movement.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinEdition. No information in this article should be interpreted as investment advice. CoinEdition encourages all users to do their own research before investing in cryptocurrencies.

  • Ripple (XRP) andCardano (ADA) have seen their prices plunge.
  • The price of XRP is currently $0.3456 after a 7.87% drop in price over the last 24 hours.
  • Cardano is suffering the same fate as it is also in the red this morning.

Ripple (XRP) and the coin that has been in the news a lot lately, Cardano (ADA), have seen their prices plunge as bullish momentum subsides.

The price of XRP is currently $0.3456 after a 7.87% drop in price over the last 24 hours, according to the crypto market tracker, CoinMarketCap. XRP is also down 8.15% over the last seven days.

The 24 hour trading volume for XRP has seen a double digit increase over the last day. However,it is clear that this volume is sell-volume after a selloff was triggered as the end of the week nears.

Cardano is suffering the same fate as it is also in the red this morning. ADA is currently trading at $0.4744 after a 12.20% price decline over the last day. Just like XRP, ADA is also down over the last week by just over 11%.

When it comes to Cardano’s trading volume over the past 24 hours, there is also a sign of a selloff taking place as the volume has increased just over 30% from the day prior.

Cardano / Tether US 1D (Source: CoinMarketCap)
Cardano / Tether US 1D (Source: CoinMarketCap)

On the daily chart of ADA/USDT, the relative strength index indicator (RSI) is a clear indication of the momentum turning drastically for ADA as the RSI line crossed convincingly below the RSI SMA line towards oversold territory.

XRP / TetherUS 1D (Source: CoinMarketCap)
XRP / TetherUS 1D (Source: CoinMarketCap)

The daily chart for XRP/USDT tells the same story as in ADA’s daily chart the RSI line crosses below the RSI SMA line in an almost downwards parabolic movement.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinEdition. No information in this article should be interpreted as investment advice. CoinEdition encourages all users to do their own research before investing in cryptocurrencies.

 

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