XRP and ADA Coin, among the largest altcoins in terms of market value, have been heavily affected by the bear market. Although XRP Coin price temporarily diverged during the process, the excitement from the summary decision in July did not last long. So what do the current data say about the price?
Will XRP Coin Price Increase?
XRP rose and closed above the 20-day EMA (0.5 dollars) on September 19. The general market recovery this week has enabled most altcoin investors to at least recover from their losses. Cryptocurrencies remained strong amidst the optimism about the interest rate decision. If the XRP Coin price manages to stay above 0.5 dollars, we can see that a test towards the general resistance of 0.56 dollars has begun. Bears will strongly defend this level to prevent the 0.93 dollar journey.
The price movement of the past few days has started to form an impressive ascending triangle. Buyers will need to keep the XRP price above the uptrend line to maintain the setup.
ADA Coin Price Analysis
Bulls have struggled to break the 20-day EMA (0.25 dollars) for Cardano in the past few days. Daily traders who do not believe in the rise due to profit-taking see every rise as an opportunity to sell. This causes the resistance levels to become stronger and investors to lose faith in the rise. Unless a very strong wave of buyers caused by news flow sweeps the market, every attack can remain feeble. This raises more risk of loss for ADA Coin price.
If there is a tangible improvement in the overall market sentiment, bears can shift their sales to slightly higher levels. The flattening 20-day EMA and the RSI just below the midpoint indicate a balance between supply and demand. If buyers can keep the price above the 20-day EMA, there is a possibility of recovery to 0.28 dollars.
Alternatively, if the price sharply drops from the current level, closures below 0.24 dollars can bring a selling wave towards 0.22 and 0.2 dollars. This will be connected to the general market trend.
