Bitcoin Rebounds, Cardano Faces Make-or-Break Moment

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

Should l Buy XRP?

Bitcoin Price Surge: Bitcoin (BTC) spiked to approximately $76,100 on April 17, reflecting a 6% increase over the past week, potentially driven by de-escalation news from the Middle East, although analysts caution that the bear market is not yet over.
Whale Activity Surge: Over a span of 96 hours, whale investors accumulated 10,000 BTC worth around $750 million, a concentrated buying spree that may further boost market sentiment but raises concerns about potential price corrections.
Cardano's Critical Level: Cardano's (ADA) current trading price is about $0.25, and if it can hold the critical support at $0.243, it could see a 25% rally; conversely, a drop below this level could lead to a significant decline to $0.10, highlighting market uncertainty.
Ripple's Rise: Ripple's (XRP) valuation increased by 8% to $1.45 over the past week, primarily benefiting from the broader crypto market resurgence and renewed interest from institutional investors, indicating growing demand for the asset.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.106	1.213	1.297	1.403	1.487	1.594	1.678
Fibonacci	1.213	1.285	1.33	1.403	1.476	1.521	1.594

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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