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XRP and ADA Price Analysis for February 20

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Mon, 20/02/2023 - 19:00
XRP and ADA Price Analysis for February 20
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Bulls keep controlling the situation on the market despite bears' pressure.

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XRP/USD

XRP has followed the rise of Bitcoin (BTC), going up by almost 2%.

XRP/USD chart by TradingView

XRP is looking bullish on the daily chart as the candle is about to close near the resistance at $0.40466. If that happens, the accumulated energy might be enough for midterm growth to the zone around $0.43. Such a scenario is relevant until mid-March.

XRP is trading at $0.40548 at press time.

ADA/USD

Unlike XRP, the rate of Cardano (ADA) has declined by 0.55%.

ADA/USD chart by TradingView

Despite today's decline, the price of Cardano (ADA) has once again bounced off the support level at $0.3957 and is currently trading above the $0.40 zone, which means that buyers are not ready to give up so easily. If the bar closes with no long wicks, the upward move may continue to the resistance level at $0.42.

ADA is trading at $0.4083 at press time.

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