|

Cryptocurrencies Price Prediction: Ripple, Dash & Cardano – Asian Wrap 22 Dec

Ripple Price Analysis: XRP eases within a one-month falling channel

XRP/USD drops to 0.5170 during the early Tuesday’s trading. The crypto major dropped below 200-bar SMA the previous day before bouncing off 0.4980. The latest moves have been confined between 0.5100 and 0.5300 while bearish MACD suggests further weakness.

As a result, short-term XRP/USD sellers can eye support line of a descending trend channel formation established since November 26, at 0.4308 now, during the further downside. Though, the 0.5000 threshold may offer immediate support.

Dash price dives by 15% but on-chain metrics remain heavily bullish

Dash was trading as high as $120 on December 21 before a massive sell-off down to $101.97. The digital asset is now trying to hold a critical support level to see a rebound as most on-chain metrics are still positive.

On the 4-hour chart, Dash price slipped towards the 50-SMA at $104 but managed to hold this critical support level for now. It seems that the digital asset is ready for a rebound as long as the bulls continue defending this level. 

dash price

Cardano Price Prediction: ADA in no-trade zone while momentum builds for high volatility

Cardano attempted to crack the 2020-high of $0.182 on December 17, but bulls came off short and only managed to push ADA to $0.176 before a violent sell-off in the next four days. It seems that bears are pushing Cardano price towards $0.14. 

ADA has formed a symmetrical triangle pattern on the 12-hour chart and it’s trading at $0.152 at the time of writing. Bulls have lost the 50-SMA support level and it seems that the next bearish price target is the lower trendline of the pattern at $0.14. 

ada price

 

 

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

Ripple and Stellar outlook: XRP and XLM await direction amid cautious sentiment

Ripple and Stellar trade cautiously as both tokens hover around key technical levels. XRP is testing resistance at its 50-day EMA, while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

Crypto Market Overview: Bitcoin recovery eases – HBAR and LDO test key resistance zones

Bitcoin edges below $66,000 extending the previous day's losses. Hedera and Lido DAO sustain bullish momentum, testing the breakout of a crucial resistance zone to extend their rally. CoinMarketCap’s Fear and Greed Index at 39 stalls below the neutral territory, indicating that sellers remain dominant.

Senate Republicans release updated CLARITY Act with new crypto ethics restrictions

Senate Republicans released an updated version of the Digital Asset Market CLARITY Act on Wednesday following briefing calls with stakeholders. The update adds a package of ethics restrictions targeting digital asset activities by public officials and their spouses.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge
The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure (on-chain) and traditional finance (TradFi), according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.
Bitcoin’s potential recovery in the second half hinges on these 4 catalysts
Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.