The post Will XRP and Cardano Price Hit $1 This Crypto Bull Run? appeared first on Coinpedia Fintech News
As the altcoin season begins in the crypto market, heated discussions have begun over whether XRP or Cardano will reach the $1 mark first. With XRP and Cardano trading at similar levels, the defined bull run in Cardano shows increased chances of reaching the $1 mark first.
However, the XRP, standing on the verge of a breakout, could find a surge in momentum ahead. So, let’s take a quick look at the Cardano and XRP price charts to determine the chances of these altcoins hitting the $1 mark in this crypto bull run.
Triangle Breakout in XRP Eyes $1
The XRP price trend shows a positive cycle within a triangle pattern. The bull cycle accounts for a 20% surge and has surpassed the 38.20% Fibonacci level at $0.001, and $0.002, and has surpassed the 50% Fibonacci level at $0.58.
Currently, it is trading at $0.59 and is ready to challenge the overhead deadline. However, the XRP price trend could find a crucial resistance at $0.618 Fibonacci level priced at $0.6035.
Hence, the price action traders should wait for the XRP price to exceed the crucial resistance, which will increase its chances of reaching the $1 mark. Based on the Fibonacci retracement tool, the upcoming price targets for XRP are $0.98 and $1.24.
Supporting the bullish trend, the 50-day and 200-day exponential moving averages are teasing a golden crossover.
Cardano’s 80% Surge Eyes $1 Ahead
The ADA price action shows a defined bullish trend in action. With a double-bottom reversal, the XRP price has increased by nearly 80% in the past six days, leading to six consecutive bullish candles.
It has exceeded the 61.80% Fibonacci level at $0.54. Currently, it is pricing operations from the 78.60% Fibonacci level at $0.68. Despite trading at similar levels to XRP, the increased bullish momentum in Cardano increases its chances of reaching the $1 mark before XRP.
With a positive crossover between the 50-day and 100-day EMA, the chances of a golden crossover have significantly increased. Based on the Fibonacci level, the price targets for XRP are $0.99 and $1.36.
Will XRP and Cardano Price Hit $1?
With an ongoing bull run, Cardano shows increased chances of reaching the $1 mark before XRP. Similarly, the breakout rally will improve the chances of XRP reaching the $1 mark. Hence, the XRP and Cardano prices will likely hit $1 in his crypto bull run!
Curious to know the future price trend in XRP beyond $1. Read Coinpedia’s XRP price prediction to learn more.
FAQs
Cardano currently shows a stronger bullish trend, making it more likely to reach $1 before XRP.
XRP faces critical resistance at $0.6035 (0.618 Fibonacci level) and has price targets of $0.98 and $1.24.
With strong momentum, EMA crossovers, and bullish Fibonacci levels, Cardano’s trend suggests further upside potential.