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Tuesday, January 02, 2024 9:37:07 PM
Author: W. E. Messamore Last Updated Dec 31, 2023 @ 10:39
This month Cardano (ADA) and Ripple (XRP) traded in the same narrow range above $0.62 as they race to $1. They’re also close neighbors when ranked by market cap. Who makes it to $1 first?
These two blue chip, large-cap, top-ten cryptocurrencies may not seem to have much in common. But they settled into a similar price range in December, according to market data from CoinGecko.
In the first two weeks in December, after XRP price found support around the $0.60 level in late November, ADA tokens rocketed up from key support at the $0.35 handle to settle in at that same $0.60 support level.
These two altcoins each recently scored a Binance listing with USDC as a trading pair (Solana and MATIC did too). Here’s how ADA and XRP compare on important price factors.
xrp_vs_ada_cb
XRP vs. ADA: Technical Indicators
XRP price has been charting a falling wedge pattern for the better part of the one-month, two-month, and six-month windows. That is often a bullish reversal signal. Meanwhile, December saw bullish open interest in XRP long positions, with traders paying record fees to keep their positions open.
The summary technical analysis recommendation for ADA on TradingView Friday was “Buy” on a scale from “Strong Sell” to “Strong Buy.” ADA price traded at a bullish premium of $0.62 above its 30-day exponential moving average of $0.556, 50-day EMA of $0.504, and 100-day EMA of $0.428 on Friday’s chart.
XRP vs. ADA: Product and Community
Ripple continued expanding its business in Q4. At its annual Swell conference in Dubai this November, Ripple Labs announced it is expanding to serve U.S. corporate clients that don’t have their own money transmitter license with its updated settlements platform, Ripple Payments. In addition, Ripple announced a partnership with an African fintech company to extend XRP remittance services in Africa.
Like Ripple, Cardano expanded globally in Q4, rolling out a massive ADA education program in Brazil and a national ID service in Ethiopia. Meanwhile, the Cardano community is excited about codifying and moving the ADA ecosystem’s governance model on-chain in 2024. Cardano founder Charles Hoskinson said the CIP-1694 upgrade will make ADA the most decentralized cryptocurrency.
Ripple vs. Cardano: SEC Regulation
Both XRP and ADA prices are exposed to regulatory risks from future SEC actions and court decisions. Ripple has been in a battle with the SEC for years but scored three significant victories in 2023.
Ripple Labs seemed confident enough in the outcome of the case as it opened a new global headquarters in San Francisco in December. Meanwhile, in a new lawsuit against Kraken exchange filed in November, the SEC named ADA unregistered security, potentially adding some bumps ahead for token prices.
![Bullish](/static/images/ih2-bull.png)
Recent XRPUSD News
- Price analysis 7/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/10/2024 05:25:27 PM
- XRP Price Set For Comeback: Breaking This Resistance Could Trigger Recovery • NEWSBTC • 07/10/2024 04:28:41 AM
- Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance • NEWSBTC • 07/09/2024 09:30:57 PM
- Crypto Analyst Predicts XRP Price Crash Fall To $0.07 Amid Triangle Breakdown • NEWSBTC • 07/09/2024 09:35:04 AM
- XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles? • NEWSBTC • 07/09/2024 04:48:24 AM
- XRP Price: Crypto Analyst Identifies ‘Point Of Control’ That Could See A Repeat Of 2017 • NEWSBTC • 07/08/2024 11:00:17 PM
- Price analysis 7/8: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA • Cointelegraph • 07/08/2024 06:56:24 PM
- XRP Gearing Up For Phenomenal Breakout As Legal Expert Reveals Imminent End Date For SEC-Ripple Case • ZyCrypto • 07/08/2024 05:16:26 PM
- Ripple’s Brad Garlinghouse And Mark Cuban To Discuss Crypto At High-Stakes Biden Roundtable This Week • ZyCrypto • 07/08/2024 04:50:24 PM
- XRP Bulls Face Continued Pressure: Key Challenges Ahead • NEWSBTC • 07/08/2024 04:31:03 AM
- XRP Stages A Comeback: Aims To Reclaim $0.50 After Recent Plunge • NEWSBTC • 07/07/2024 03:00:53 PM
- Pundit Predicts Ripple’s XRP Surge To $200 In Case Of “Full Logarithmic Follow-Through” • ZyCrypto • 07/06/2024 10:23:09 PM
- $26 XRP Price Still in View as Ripple CTO Cites its Practical Utility in the Trillion-Dollar Payments Market • ZyCrypto • 07/05/2024 09:56:50 PM
- Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? • NEWSBTC • 07/05/2024 09:30:16 PM
- Prominent Hedge Fund Exec Blasts Cardano And XRP As “Cult Meme Coins” • ZyCrypto • 07/05/2024 08:55:31 PM
- Crypto Market Sentiment Dives, PancakeSwap Launches zkSync Reward • IH Market News • 07/05/2024 06:33:10 PM
- Price analysis 7/5: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/05/2024 06:00:43 PM
- XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst • NEWSBTC • 07/05/2024 05:00:17 PM
- XRP Lawsuit: SEC Sticks to $2 Billion Fine on Ripple As Pressure On XRP Soars — Is This Your Buy Signal? • ZyCrypto • 07/05/2024 01:47:03 PM
- Why is XRP price down today? • Cointelegraph • 07/05/2024 08:34:40 AM
- Bitcoin Price Crashes Below $54,000: Top-5 Reasons • NEWSBTC • 07/05/2024 08:00:18 AM
- XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead • NEWSBTC • 07/05/2024 03:58:37 AM
- XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 • NEWSBTC • 07/05/2024 02:00:29 AM
- $6 XRP Price Very Likely as Recent Ruling on Crypto Secondary Sales Bolsters Ripple vs. SEC Case • ZyCrypto • 07/04/2024 07:49:41 PM
- XRP Price Ready for Bullish Spike: Fading Bearish Momentum and Solid Support • NEWSBTC • 07/04/2024 04:28:30 AM
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