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Cardano Price Hits $1 But Analyst Says This Is Just The Start
Cardano (ADA) has made a fantastic recovery as the token surged past the $1 price level for the first time since April 2022. ADA price has defied the bear trend by rising over 30% in the last 24 hours and is currently at $1.06. Similarly, trading volume increased by 150% to $6.7 billion suggesting increased market activity.
Nonetheless, experts claim that this has only begun, with some contributing on the projection of the future events. As ADA enjoys the bullish on-chain metrics, the question that continues to be asked is; where is ADA headed next?
Cardano Price Records 30% Surge to $1 Amid Bullish Metrics
After the recent crypto rally, Cardano price has grown by 30%, with a current price of $1.06 within 24 hours. The present value is the highest ADA has reached since April 2022. Trading activity also rose sharply with volumes going up by 150% to $6.7 billion in a single day.
More so, the crypto rally aligns with recent analysis predicting ADA price could cross the $1 mark this weekend. Analysts have suggested that the crypto is yet to fully realize its potential. Ali Martinez expressed optimism stating,
“$ADA has surged nearly 200% in the last three weeks! But that’s nothing compared to what is coming.”
As one of the leading crypto analysts, Ali Martinez claims that all that has happened with Cardano is a warm-up to even bigger gains. Martinez noted that ADA whales with stakes between $1 million and $10 million have seen their ADA holding rise by over 100% in the last month. This has resulted in large transactions exceeding $22 billion daily on the network, signifying robust accumulation activity.
From a technical standpoint, Martinez noted that ADA is mirroring its previous bullish cycle. If this pattern continues, ADA could aim for targets as high as $6. However, he emphasized that the $0.80 support level, where 1.2 billion ADA were purchased by 48,000 addresses, remains crucial for sustaining the current bullish trend.
On-Chain Metrics Show Strong Momentum
In addition, on-chain data underscores the bullish sentiment surrounding ADA. According to CoinGlass, Cardano price has benefited from a 34% increase in open interest, which now stands at $972 million.
Moreover, short liquidations have reached $9.77 million in the past 24 hours, indicating that traders betting against ADA’s rally were forced to close their positions. This forced buying pressure has further fueled ADA price growth during the ongoing crypto rally.
Additionally, data from Santiment highlights Cardano’s tripling market cap over the past 17 days. Concurrently, the crypto recorded $165 million in realized profits in a single day, the highest in eight months. More so, the data show Social media discussions about ADA have reached an 11-month high, underlining the growing interest within the community.
Another analyst, Dan Gambardello, noted that ADA’s trajectory over the past three weeks, which saw nearly 200% growth, mirrors its previous bullish patterns. He identified key support zones around $0.80 and resistance near $1.05, suggesting further upside potential.
Gambardello was also keen to point out that, based on this narrative, Cardano price could potentially have its sights set on a $10 target. This recent rally has triggered different analysts and investors weigh in on possible price targets ADA, ranging from $1.00 to as high as $15.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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A large Ripple whale has moved 29,532,534 XRP, valued at $63.81 million, from an unknown wallet to Coinbase. This Ripple whale transfer comes at a time when XRP is making waves in the cryptocurrency market, positioning itself as one of the top candidates for a U.S. spot ETF approval.
XRP’s increasing liquidity and recent developments have placed it in direct competition with Solana (SOL) for ETF approval, with analysts predicting XRP may secure approval sooner than its rivals.
XRP’s Growing Liquidity Boosts ETF Prospects
XRP has shown a marked improvement in liquidity over the past few months, positioning itself as a strong contender for a U.S. spot ETF. A study of market depth done by Kaiko Indices shows that XRP and Solana have the deepest 1% market depth on vetted exchanges. XRP’s liquidity has increased since late 2024, outperforming that of Solana and even risen to two times that of Cardano’s ADA.
Several events have enhanced XRP’s liquidity, such as Teucrium’s launching of a 2x XRP ETF in the recent past. This leveraged product tracks European ETPs and swap agreements, offering double the daily returns of XRP.
On the launch date, it traded above $5 million, becoming the best-performing fund for the Teucrium Fund Company. Such momentum brings XRP the vital support for its objective to establish a place in the approval process for the U.S. spot ETF.
Despite the absence of a robust futures market, as seen in BTC, XRP has gradually made an increased impression in the US spot market. This triggered the token’s market share to go to the highest level since the SEC lawsuit in 2021, which triggered multiple delistings.
In this regard, Solana’s market share has decreased to 16% from the 25-30% recorded in 2022. According to analysts, XRP continues to trade significantly in the spot market, which could pave the way for approval soon.
Ripple’s Push for ETF Approval
The SEC has approved various filings for XRP spot ETFs, with a key deadline for Grayscale’s amendment scheduled for May 22. Additional good news came from the regulatory channel, confirming Paul Atkins as the new SEC Chair. Since several deadlines are set for the ETFs in the cryptocurrency market, Atkins’ leadership could determine the fate of XRP and other assets.
XRP’s situation differs from Bitcoin’s, as it lacks a robust futures market, making the cryptocurrency’s regulatory landscape more complex. However, rising liquidity and introducing the 2x XRP ETF have shifted the narrative firmly towards Ripple’s token. Therefore, the steps taken by the SEC in reaction to Grayscale’s filing will set the direction through which XRP may or may not get approval.
Despite this, according to data from Polymarket, there is a 74% chance that XRP will be approved for a spot ETF by December 31, 2025. However, there is still cautious optimism in the option market for XRP.
Data from Deribit reveals an abundance of bear call options, indicating that traders mainly hedge against further downside. This is partly due to worries from the broader market, such as macroeconomic issues that may affect crypto assets, like the Trump tariffs.
XRP Price Trend Amid Ripple Whale Moves
Looking at the technical analysis of the XRP price, there are indications of purely bullish opportunities. According to crypto analyst TheDefilink, XRP price is presently trading above key support levels on the daily charts, and as signified by the Ichimoku Cloud, the trend remains bullish.
In addition, large token transfers mean that Ripple whales are active on the market. The latest 29 million XRP transferred to Coinbase, alongside the 70 million XRP transfer between two unknown wallets, also depicts interest in XRP.
Additionally, the tightening of XRP’s Exponential Moving Averages (EMAs) suggests a potential golden cross could be forming, a pattern often associated with upward price movements.
According to the analyst, XRP price resistance levels are $2.23 and $2.50, with support levels at $1.96 and $1.61. A successful move above the $2.23 resistance could further energize the bullish sentiment surrounding XRP, aligning with a recent CoinGape XRP price analysis.
However, failure to hold the $1.96 support level might lead to a shift in market sentiment, potentially triggering a bearish correction in the short term.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Despite being the second biggest cryptocurrency, Ethereum has witnessed the worst quarterly price performance of 5 years in Q1 2025. With continuous bears’ dominance and macroeconomic events putting downward pressure on the altcoin, it is down significantly. However, that might change as the ETH price chart shows a bullish sign.
Ethereum Price Up for Rally As Buying Signal Flashes
Ethereum’s downtrend resulted in the token’s crashing to a low of $1,400 earlier in the month. Experts have attributed this fall to investors’ bearish sentiments and the overall crypto market crash. However, the Ethereum price drop against Bitcoin to its lowest in years indicates underlying performance issues.
While the selling sentiments remain, a buy signal has formed in the ETH price chart, presenting the possibility of a rebound. According to the crypto analyst Ali Martinez’s X post, the TD sequential indicator is presenting Setup 9, i.e., an indicator of trend reversal.
ETH may be gearing up for a major rebound, with the TD Sequential flashing a buy signal on the weekly chart!
The “9” is historically proven to mark the end of the bearish trend and present buying opportunities. Moreover, the smaller body size of the candle suggests weakening selling pressure and traders opting to buy.
Besides, no major resistance near the chart exists, so a smooth uptrend can form unless any major macroeconomic event interferes.
Symmetrical Triangle Formation Supports Ethereum Price’s Bullish Outlook
With a 3% recovery over the week, Ethereum currently trades at $1,639.91 with a market capitalization of $197.88B. Although the recovery is slow, the token moves in a symmetrical triangle formation, simultaneously opening the possibility of an uptrend or a downtrend.
If the ETH price moves up, it could rally to $1,900, but a downside move could result in a crash to $1,380. Although uncertainty remains amid Trump’s tariff trade war, the long-term bullish Ethereum price prediction is sustained.
Considering the same, a crypto whale has just opened a $12.6M ETH Long with 5x leverage, influencing investors’ sentiments.
Frequently Asked Questions (FAQs)
Persistent berish investor sentiments, broader crypto market crash, and macroeconomic events drive the poor performance of Ethereum.
After a 3% recovery during the week, Ethereum currently trades at $1,639.91 but could hit $1,900 with the confirmation of bullish momentum.
The ETH price chart shows that investors’ buying interest is rising and selling sentiments are declining. Even whales are placing long leverage, showcasing rising confidence in the altcoin.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The price of XRP is in consolidation mode as the broader market has maintained its broad-based fluctuations. While retaining its spot as a top-three digital currency, XRP’s growth path was initially derailed; however, the current outlook suggests the growth potential remains intact. As of writing, the coin’s price was trading for $2.128, up by 1.52% in the past 24 hours.
XRP Price and Conflicting Data Trends
The coin’s growth path has not been particularly straightforward in the past 24 hours. By printing lower lows and lower highs, it has been largely difficult to determine its next direction. The 1.43% surge in the past 24 hours is a decoy, as XRP is currently below its highest level of $2.174, which it attained for the day.
Meanwhile, XRP has maintained a positive outlook over the past seven days, with its price up by 11.72% during this period. Key performance metrics tied to the Ripple-backed coin also show a conflicting trend. Earlier XPR price analysis signaled a possible death cross amid the conflicting trend
The trading volume dropped by 13% in 24 hours to $3,439,251,046.17. At its peak, it topped $4 billion in 24 hours. The Open Interest data from Coinglass also shows a 5.3% slump. With this drawdown, only 1.45 billion XRP, valued at $3.1 billion, was committed in the futures market.
While these show reduced interest in spot and futures markets, the XRP price has remained resilient. The XRP/USDT daily chart shows a neutral Relative Strength Index (RSI) at 49. This is proof that the selling pressure has slowed down.
Per the chart, the Bollinger Bands also shows reduced volatility for the coin.
What Next for the Ripple Coin?
The fate of the top coin is still tied to the broader industry trend. There are signs it might print a solo breakout soon.
In CoinShares’ digital asset report for the past week, only XRP recorded an inflow, while Bitcoin and Ethereum recorded outflows. This signals resilience with the asset among institutional investors, a trend that might contribute to a potential price rebound if sustained.
Part of the possible trend that may impact XRP price moving forward is the hype around Ripple Labs and its business expansion. Recently, Ripple acquired Hidden Road, a prime brokerage firm, to enter the mainstream financial market. As detailed, XRP and RLUSD are on track to play a role, a move that may boost their valuation.
Godfrey Benjamin
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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