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ADA and XRP Price Analysis for December 5

Mon, 12/05/2022 - 14:52
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Denys Serhiichuk
Which altcoins have returned to bullish trend?
ADA and XRP Price Analysis for December 5
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The new week has started with the bouncing growth of the cryptocurrency market as all of the top 10 coins are in the green zone.

Top 10 coins by CoinMarketCap

XRP/USD

The rate of XRP has risen by 0.71% over the last 24 hours.

XRP/USD chart by TradingView

Despite the slight growth, the rate of XRP remains trading in a wide channel, between the support at $0.3736 and the resistance at $0.41832. Until buyers can fix above the $0.41 zone, there is a high possibility of seeing a drop to the $0.38-$0.37 area.

XRP is trading at $0.3922 at press time.

ADA/USD

Cardano (ADA) is more of a gainer than XRP, going up by 2.44%.

ADA/USD chart by TradingView

Cardano (ADA) is about to close the daily candle with a long wick, which is not good for bulls. In addition, the volume has fallen, confirming buyers' weakness.

Related
SOL and BNB Price Analysis for December 4

All in all, if the bar cannot fix above the $0.3250 mark, there is a chance to see the return to the bearish zone below $0.3228.

ADA is trading at $0.3245 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.