The entire crypto market was painted green. Cardano [ADA], as well as Binance Coin [BNB], were seen spearheading the bull run. Bitcoin [BTC] was still struggling to push past $46K, while the crypto community was hoping the coin would hit an all-time high of $50K. XRP had finally left behind the bears as it was surging by over 12% in the last 24-hours. Despite this, the coin dropped down to the fifth position as ADA surpassed the asset in terms of market cap. Dogecoin [DOGE] had picked up pace as the coin was back at $0.073, albeit its 7% fall over the day.
Cardano was out and about. With a 30% surge in the last 24-hours, the altcoin pushed its price to a high of $0.87. Over the last seven days, ADA managed to garner gains up to 103%. The market cap of the altcoin didn’t fall back, it seemed to be in sync with the ongoing trend as it hit a high of $26.8 billion, during press time. Currently, Cardano stands as the fourth-largest cryptocurrency.
Cardano [ADA] One-Day Price Chart
The one-day price chart of the altcoin was seen providing shelter to the bulls. The Parabolic SAR indicator laid out dotted lines below the candlesticks which stood as a barrier against any possible downtrend. The Awesome Oscillator indicator formed green closing bars indicating a bullish momentum in the ADA market. The Relative Strength Index [RSI] was way above the 80 median and suggested that the altcoin was being overbought.
XRP One-Day Price Chart
The XRP market revealed a similar trend. The MACD indicator formed a bullish crossover as the MACD line was above the signal. The Money Flow Index [MFI] indicator suggested that a buyers’ sentiment was intact in the XRP market. This signaled that the altcoin was finally getting past the damage that the SEC lawsuit had done to Ripple as well as XRP.
Both these assets have tried long and hard to hit $1. The prolongation of this trend could further aid the assets’ journey to $1.