The ongoing rise in cryptocurrencies is leading altcoins to target new peaks. The cumulative value is increasing. The next target for TOTALCAP is $2.1 trillion and above. If the next resistance is to be tested, we will need to see double-digit increases in altcoins. So, what’s the next target for XRP, ADA, and AVAX?
Ripple (XRP)
BTC is not far from its peak of $52,000, and there were about 3 hours left until the daily close at the time of writing. XRP is near its 20-day EMA ($0.52). It does not yet appear to have started or be about to start a clear upward movement, as demand is weak. Moreover, the expected big jump from the $0.5 support has not started for quite some time.
The RSI is neutral, and if XRP Coin returns to $0.5, a drop to $0.46 is likely. On the upside, if successful, the target of $0.67 remains valid as previously stated.
Cardano (ADA)
Bulls tried to push the ADA Coin price above the descending channel formation a few days ago but were unsuccessful. The rising 20-day EMA ($0.52) and positive RSI offer a better outlook for ADA Coin than for XRP. If the ADA Coin price stays above $0.57 (as it was at the time of writing), it could start a new move towards $0.6 and $0.68.
Alternatively, if the price falls and goes below the moving averages, recent aggressive buyers could be trapped, leading to a pullback to the strong support at $0.46.
Avalanche (AVAX)
While cryptocurrencies are on the rise, we learned hours ago about tests conducted by Citi on the Avalanche network. The network needs to shine with advantages like speed and low fees, and become more prominent in the RWA space. If we hear more similar news, the ease that subnets bring to institutions could quickly increase demand if well communicated to the community.
Avalanche is facing sales at $42, but it hasn’t moved away from this region. Indeed, good news indicates that the price lingering at the edge is in an uptrend. If AVAX can overcome resistance, it could climb to $50. In the opposite scenario, there is still potential to fall to $32.
