Cryptocurrencies Price Prediction: Cardano, Ripple & Bitcoin – Asian Wrap 11 March
|Cardano eyes recovery as it retests key support, funding rate and bullish bets signal optimism
Cardano (ADA) recovers slightly by 4%, trading around $0.70 on Tuesday after falling nearly 7% the previous day. On-chain metrics signal further recovery as ADA’s funding rate turns positive while its bullish bets reach the highest level over a month.
Bettors mount pressure on XRP amid signs of a price bottom in on-chain indicators
Ripple's XRP declined 10% on Monday, trading around $1.96 at press time after odds of its price plunging below $2.00 skyrocketed to 81% on prediction platform Polymarket. Despite the high risk-off sentiment, XRP's 30-day Market Value to Realized Value (MVRV) Ratio indicates prices may have found a bottom.
The crypto market cap dips to $2.44 trillion while Mt. Gox moves 11,833 BTC worth $932 million
The crypto market continued its ongoing downleg as the week started, as its market cap capitalization reached a low of $2.44 trillion on Tuesday, levels not seen since early November. This price crash has triggered a wave of liquidations of over $937 million in the last 24 hours while the defunct crypto exchange Mt. Gox raises concern in the market as it moves 11,833 BTC worth $932 million.
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