XRP Drops Below $1.35, Cardano Tests $0.25 Support
XRP violated its key support range as whales accumulated 340 million tokens in two weeks. Cardano sits at $0.25 after months of decline while Shiba Inu recorded three consecutive failed breakout attempts.
Key Takeaway
Three major altcoins broke support or failed rallies, with XRP's $1.00 level now in play.
XRP dropped below its key support range of $1.30 to $1.35, breaking the rising trendline it held since February lows. The breach shifts the technical outlook back toward bearish continuation, with the next psychological level sitting at $1.00.
Cardano now tests support at $0.25 after months of consistent decline. The level isn't unbreakable, analysts say, and the next support zone sits at $0.20 if selling pressure continues.
Shiba Inu recorded three consecutive failed breakout attempts, signaling that the bullish narrative is broken rather than just weak. The meme token launched in August 2020 and grew into the second-largest meme coin after Dogecoin, but recent price action shows buyers can't push through resistance.
Whale accumulation added 340 million XRP in two weeks, even as price slipped below support. The United Nations Capital Development Fund named XRP a preferred option for frictionless international remittances in 2024 due to ultra-fast, low-cost global payments. Analysts still target XRP at ₱179 ($3) to ₱299 ($5) amid chatter about a possible spot ETF, with filings from Grayscale and Bitwise hinting at potential surges to $4.00 if approved.
Cardano recorded a 159% annual gain in 2024, supported by its academic approach to blockchain development. Shiba Inu outperformed both XRP and Cardano in 24-hour trading volume during a recent rally, with SHIB recording over ₱137.36 billion ($2.3 billion) versus XRP's ₱125.42 billion ($2.1 billion) and ADA's ₱37.62 billion ($630 million).
This article was written based on reporting from U.Today.
