XRP has experienced a significant retracement of 24% after failing to sustain its recent rally. The decline was influenced by the overall market decline and general uncertainty. XRP is currently trading just above the important support level of $2.30, with the next significant support level at $2.00. To resume its bullish push, XRP needs to recover $2.50. Ethereum has also seen a decline, with the price breaking crucial support levels and currently trading at $2,104. The extreme volatility of Ethereum's price and its inability to establish a firm foundation is a concern for traders. Cardano experienced a sharp increase in volatility following the announcement of a strategic crypto reserve by the US government. Altcoins like Cardano saw significant price swings, with ADA spiking above $1.15 before falling back to $0.81. The influx of capital and speculative trading has fueled intense trading activity and increased liquidity concentration around large-cap assets. The dominance of large-cap cryptocurrencies in exchanges has grown, indicating the impact of institutional interest and macroeconomic trends on altcoins like ADA. ADA is at a crucial turning point and may experience further price swings depending on market sentiment.



Other News from Today