How are the Cardano (ADA), Ripple (XRP), and Crypto.com (CRO) coins performing within the crypto market? In this article, we will see all the details about their price trends and the latest news concerning them.
Summary
Cardano: return to growth amid whale accumulation and increase in open interest
In recent weeks, Cardano (ADA) has shown signs of recovery after a significant drop, supported by renewed activity from the “whales”.
These actors, who hold a significant portion of the ADA supply, have recently stopped selling, preferring to accumulate the asset in private wallets.
This change is reflected in the sharp decline of the Large Holder Netflow, a metric that measures the net inflow of ADA to the exchanges.
A negative net flow, recorded with a decrease of 1181.52% in the last week, indicates that large holders are moving their ADA (Cardano) out of the exchanges, a strategy that suggests a long-term orientation.
Such accumulation by the whales can lead to a scarcity of supply in the market, potentially pushing the price upwards.
Furthermore, the transaction volume of ADA has reached 18.39 billion in the last 24 hours, a figure that may indicate a possible bull trend.
The Open Interest (OI) also showed an increase of 0.28%, indicating that new long contracts are actively being opened and funded, a further indicator of optimism on the price of ADA.
However, despite these positive signals, the total value locked (TVL) within Cardano’s DeFi ecosystem has remained stable, reflecting caution from investors in the DeFi sector.
If the TVL were to increase, it could confirm and strengthen the bull trend.
In summary, Cardano seems well positioned to continue its recovery, with a market showing signs of accumulation and a moderate increase in interest towards long-term investments.
Ripple (XRP) towards a potential breakout after years of consolidation: what to expect?
XRP, the digital asset associated with Ripple, is attracting the attention of investors with signals of a possible significant breakout after seven years of consolidation, according to the cryptocurrency analyst Armando Pantoja.
XRP has gone through a long period of trading within a symmetrical triangle pattern, a chart formation that often precedes strong price movements.
This pattern, highlighted by Pantoja, is an indication of a possible breakout from the consolidation levels, similar to what happened in 2018, when XRP reached its all-time high of $3.84.
The technical analysis by Pantoja suggests that the low volatility of XRP, combined with the proximity to the 200-day EMA, could favor a phase of potential growth. Thus supporting the hope of a bull trajectory for the cryptocurrency.
Despite the expectations of some members of the community, the analyst believes that a long-term target of $100 is plausible only in a multi-year horizon, as the current market still presents uncertainties.
In parallel, Ripple has recently announced the largest allocation of XRP tokens in seven years, with 470 million XRP earmarked for a possible sale in November 2024.
This allocation, which deviates from the usual monthly release of Ripple, indicates a possible pressure on the price of XRP. This is because an increase in supply could reduce the value of the token.
Similar events in the past, such as the June sale involving 400 million XRP, resulted in a 20% decline in one week.
Although XRP has recorded a slight increase of 1.97% in the last 24 hours, this new allocation could introduce uncertainties on the price in the short term. Meanwhile, investors are closely monitoring future market movements.
Price and news for CRO: how is the crypto performing compared to Cardano and Ripple?
Crypto.com, the crypto exchange based in Singapore, has recently acquired the U.S. broker Watchdog Capital to expand its range of financial services in the United States.
This strategic acquisition is seen as an important step to bring the world of cryptocurrencies closer to traditional finance, offering American customers the opportunity to also invest in stocks.
Watchdog Capital, based in New Hampshire, is registered with the SEC and is part of the Financial Industry Regulatory Authority (FINRA), the organization that establishes and enforces rules for brokers in the United States.
The CEO of Crypto.com, Kris Marszalek, emphasized the importance of this agreement, stating that it represents a “significant step forward” for the sector.
This is because it aims to integrate conventional financial instruments with the new opportunities offered by cryptocurrencies.
The goal of Crypto.com is to build a compliant and secure infrastructure, operating under the necessary licenses and regulatory requirements to position itself as a leader in the bull and bear sector.
Marszalek also expressed optimism regarding the U.S. market, highlighting the growing political support for the cryptocurrency sector, support that could be further facilitated by potential changes in political leadership.
In parallel, in the last few hours, Crypto.com is experiencing a significant increase in the value of its own coin CRO.
A trend that is also reflected in other cryptocurrencies involved in disputes with the SEC, because, if Trump were to win the US elections, it seems that he could resolve them.
In other words, Crypto.com aims to introduce the possibility of trading stocks and options by the end of the year, thus expanding its reach and attracting more and more American customers.
, Ripple (XRP), and Crypto.com (CRO) coins performing within the crypto market?){kind=link}