Cardano (ADA) Spikes 8%, Overtakes XRP In Last 24 Hours
July 25 2022 - 11:26AM
NEWSBTC
Cardano (ADA) price has skewed way up by over 8% in the past 24
hours; peaking at $0.51. ADA has now outstripped XRP in terms of
market cap with now valued at $17.6 billion and XRP at $17.5
billion. Nevertheless, ADA still suffered a massive decline of 83%
from its all-time high in September. The upcoming launch of hard
fox seems to be the impetus for the recent price spike. It was
supposed to be launched in June but was postponed because of some
technical problems. The date of the hard fork launch will be
announced soon by the Input Output team. Suggested Reading
| Solana (SOL) To Hit $166 By 2025, Despite Current Bearish
Conditions ADA Trading Between Two Critical Levels For the first
time, XRP was scrapped from CoinMarketCap’s top 5 list in February
due mainly to U.S. SEC controversies and lawsuits. Now, Ripple has
decided to hedge on Cardano. ADA price peaked last year which in
turn powered up smart contracts on the blockchain. Still, ADA has a
lot of catching up to do in order to keep up the pace with BNB that
currently has a market cap of $42 billion. Cardano’s price ended
Sunday in the red at -$0.005. It closed in red for the second
consecutive time seen in the last three days. ADA price is
currently trading sliced between two critical levels. And the bulls
are trying to revert to the $0.64-$0.67 range. On the other hand,
the bearish ADA traders are seeking to pivot and dispatch ADA’s
price down testing the $0.395-$0.43 range. In 2021 this exact date,
ADA price was at $1.22. The average ADA price seen in the
past 30 days was at $0.47 which is up by 8.89% following the same
span of time. ADA total market cap at $16.5 billion on the daily
chart | Source: TradingView.com ADA Spikes By 25% In Last 7 Days
ADA price spiked by 25% last week, followed by massive
liquidations. While the price reversal pushed the price lower, the
bears did take the blows while trading the coin. ADA ended the week
in flying colors as it skyrocketed by 25%. ADA price also managed
to maintain its price at $0.5. With that, Cardano outperformed its
competition and now ranks as the sixth most significant coin in
terms of market cap at CoinMarketCap. It has a current
capitalization of $17.7 billion which keeps ADA ahead of SOL, DOGE,
XRP, and BUSD. So, will Cardano continue to dash in the green
light? Well, it will all depend on the condition of the crypto
market. ADA traders are very optimistic and vested in ADA but apart
from upgrading the Vasil network, the Cardano community is also
weathering the crypto winter and economic recession.
Suggested Reading | Cardano (ADA), After 35% Spike, Locks On
Next Target: $0.55 Featured image from NewsCrypto, chart from
TradingView.com
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