The post Why Are Cardano (ADA) and XRP Prices Surging Today? appeared first on Coinpedia Fintech News
The altcoin industry, led by XRP and Cardano (ADA), followed the Bitcoin (BTC) price with a mild recovery in the past 24 hours. The initial crypto FUD in the past few weeks was largely overshadowed by positive sentiment from the United States in the last two days.
Furthermore, Bitcoin price led the wider altcoin industry in mirroring gold bullish outlook as major stock indexes recorded mild rebounds.
Factors Influencing Cardano and XRP Rally Today
Clear Regulatory Outlook from the U.S. SEC
As Coinpedia reported, the U.S. SEC acknowledged the role of XRP and Cardano in the country’s digital economy. Whereby the agency noted that XRP will play a crucial role in state-level financial transactions, optimizing government payments, and enabling interbank liquidity.
On the other hand, the agency noted in the proposal that Cardano is best suited for academic credentialing, smart contracts for government services, and secure infrastructure management.
Rising Adoption from Institutional Investors
Following the notable interest of Cardano by the United States, institutional investors have made strategic moves to adopt ADA before the anticipated altseason. On Friday, Coinbase Global announced that it has filed with the U.S. CFTC to offer Cardano futures, with the product expected to go live on March 31, 2025.
Meanwhile, XRP has attracted notable attention from institutional investors led by several fund managers seeking to offer its spot ETF. Some of the fund managers that have filed for spot XRP ETF include Grayscale, Bitwise, and 21Shares.
Midterm Targets
ADA
From a technical analysis standpoint, ADA price, in the weekly time frame, has been forming a potential cup and handle formation, signaling a major bullish uproar ahead. The large-cap altcoin, with a fully diluted valuation of about $33 billion and a 24-hour average trading volume of about $936 million, surged 2.8 percent in the last 24 hours to trade around $0.739 on Saturday, March 15, 2025.
In the lower time frame, ADA price has been consolidating in a symmetrical triangular pattern, signaling a potential breakout ahead.
XRP
The favoring fundamentals of Ripple Labs and the XRPL network signal a major bull rally for XRP in the near future. The large-cap altcoin, with a fully diluted valuation of about $240 billion and a 24-hour average trading volume of around $3.8 billion, surged 4.3 percent in the past 24 hours to trade about $2.41.
According to crypto analyst Ali Martinez, XRP price is well positioned to reach $15 in the coming months. Moreover, XRP price has gathered significant bullish sentiment in the past six years of triangular consolidation.