Cardano (ADA), Ripple (XRP) Defy Market Sentiment With Double-Digit Price Rises: Details

Most of the cryptocurrency market is in the red today, seeing some price losses after the recent massive rallies. BTC fell below $90,000 and even briefly dipped below $87,000, ETH is down to just over $3,000, while DOGE and SHIB are down 5-8%.

Two of the top ten largest cryptocurrencies have defied this trend: Ripple’s XRP and Cardano’s ADA. Both assets are up by double digits on a daily basis.

XRP hits $0.9

CryptoPotato reported the rise in the price of XRP yesterday, taking it from $0.7 to over $0.8 for the first time in almost a year and a half. The most likely reason seemed to be related to current SEC Chairman Gary Gensler and the growing number of rumors that he will soon step down from his position.

Although this confirmation is yet to be released, the price of XRP has continued to gain strength over the past day, unlike the rest of the market. The token rose above $0.9 today, marking a new 16-month high.

Despite pulling back slightly since then, the Ripple token is still up 22% on the day and 60% over the past week. Its market capitalization has soared to over $50 billion and has narrowed the gap with Dogecoin’s $53 billion.

At the same time, Santiment previously reported that many Ripple whales have started to accumulate again, pushing their combined holdings to nearly 46 billion tokens. This is a six-and-a-half-year high for this metric.

As for future XRP price action, CryptoBull told his 145,000 followers that the asset has broken out of a large symmetrical triangle and could shoot up to $23 by the end of January if history repeats itself.

#XRP has broken out of a large symmetrical triangle, just like in 2017. Measuring the monthly closes of 2017, we could see XRP at $1.96 by the end of this month, $4.80 by the end of 2024, and $23 by the end of January 2025. pic.twitter.com/8H05AJyLOf

— CryptoBull (@CryptoBull2020) November 15, 2024

ADA on the move, too

Cardano’s native token experienced a massive resurgence last weekend when IOG founder Charles Hoskinson said he will be part of a group appointed under the Trump administration that will work on a comprehensive cryptocurrency regulatory framework . In the days that followed, the ADA lost some traction, but today it went on the offensive.

ADA is up 19% in the last day and is trading above $0.66 after it touched 0.7 hours ago. This was its highest price since mid-March this year.

Popular analyst Ali Martinez weighed in on ADA’s future price performance, suggesting a rise towards $6 in July or September next year.

#Cardano $ADA it will reach $6 from July to September 2025! pic.twitter.com/ik3NrNizaN

— Ali (@ali_charts) November 15, 2024

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!