Ripple (XRP) Price Predictions, Recent Cardano (ADA) Developments, and More: Bits Recap June 13
The post Ripple (XRP) Price Predictions, Recent Cardano (ADA) Developments, and More: Bits Recap June 13 appeared on BitcoinEthereumNews.com.
TL;DR ADA is down for the day, but essential developments, such as whale purchases and ecosystem progress, can have a positive impact on the price. XRP trades near $2.14, with bullish targets ranging from $2.80 to $10, while Ripple’s case versus the US SEC nears resolution. ETH fell back to around $2,500. Analysts remain cautiously bullish, noting that $2,380 is a crucial support zone. What’s New Around ADA? Cardano’s native token suffered the negative consequences of the geopolitical tension caused by the conflict between Israel and Iran, with its price plunging by over 7% in the last 24 hours and currently trading at around $0.63. ADA Price, Source: CoinGecko Some prominent analysts on X took notice of the decline, warning that a further plunge could be incoming. Nebraskangooner, for instance, claimed that “the head and shoulders” price pattern is “potentially breaking down,” suggesting this could lead to a correction below $0.50. However, some important developments that took place earlier this week indicate that all hope isn’t lost for the bulls. On June 10, Ali Martinez revealed that Cardano whales (those holders having between 100 million and 1 billion tokens) bought 120 million ADA in the span of just 48 hours. Back then, the USD equivalent of the stash was approximately $85 million. Another bullish factor is the development of the Cardano ecosystem. A few days ago, the project’s founder, Charles Hoskinson, announced Cardinal – the first Bitcoin DeFi protocol on Cardano, which allows people to use BTC for staking and lending on the platform, with no custody required. XRP’s Price Targets Ripple’s cross-border token was also hit by the latest correction. It currently trades at roughly $2.14, representing a 5% decline on a daily scale. XRP Price, Source: CoinGecko X user CRYPTOWZRD noted that XRP’s performance is similar to other…
