“$ADA and $XRP want to pump so badly”: Crypto Netizen, Dan Gambardella
- Cryptonetizen tweets that ADA and XRP are trying to pump so hard.
- XRP is in a bearish rising wedge.
- The 200-day MA ADA looks bearish and the 50-day MA looks bullish.
Dan Gambardella, a crypto netizen, tweeted that Cardano’s token, ADA, and Ripple’s token, XRP, are eager to pump up.
$ADA and $XRP want to pump so badly. I just see it!
— Dan Gambardello (@cryptorecruitr) November 23, 2022
Notably, CEO Brad Garlinghouse said during a recent interview that Ripple is working on cross-border transactions, which is a major issue for its users in terms of speed and cost.
Meanwhile, according to CoinMarketCap, XRP is up 0.78% over the past 24 hours and is trading at $0.3790 at press time.
As shown in the chart below, the bullish XRP review began on November 14th. However, the bull run was short-lived and ended after two days. XRP prices dropped from $0.39 to $0.36 during the day on November 16th. Since then, the XRP price has fluctuated sideways for four days.
XRP appears to be following a bearish rising wedge. Although it is registering new higher lows, the new gap between new higher lows seems to be narrowing.
The 200-day MA is vertical to the horizontal axis, indicating that prices will move sideways, while the 50-day MA is sloping upward, suggesting a bullish move. Moreover, the market may correct the oversold price as XRP touches the lower Bollinger band. If the bulls dominate, XRP will target resistance 1 located between $0.43-$0.45. On the contrary, if bears dominate, XRP will land at a support level that is in the range of $0.32 to $0.33.
XRP/USDT 1 Hour Chart on TradingView
up 0.22% in the last 24 hours and is currently trading at $0.31. Notably, as you can see from the chart below, Cardano quickly collapsed. ADA dropped from $0.33 to $0.29. However, the price of ADA seems to be gaining momentum as it fluctuates in a rising wedge.
Interestingly, while the 200-day MA is sloping down, indicating a bearish signal, the 50-day MA is sloping up, signaling a bullish trend.
1 hour ADA/USDT trading chart on TradingView
ADA touches the lower Bollinger band, indicating that the market may correct the price of ADA. If the bulls push harder, then ADA will target the resistance level around $0.335. However, if the market is dominated by a bear, then ADA will land at a support level based around $0.29.
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