Cardano Ascends: Why ADA Stands To Benefit From The XRP Court Decision Even More Than Ripple

2023-7-14 00:29

Recent market data reveals a notable upswing in Cardano (ADA), with its value exceeding the 20-day Exponential Moving Average (EMA) of $0.29 as of July 11. This trend indicates an increasing influence of bullish investors, stepping in at lower levels.

As the 20-day EMA remains steady and the Relative Strength Index (RSI) hovers near the midpoint, a balance between supply and demand can be inferred. Analysts are carefully observing whether the bullish trend can drive the ADA price above the 50-day Simple Moving Average (SMA) of $0.31. This progression could potentially initiate a rally towards $0.38, marking a powerful move for ADA bulls.

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However, if the price recoils from the current resistance, it may indicate that bearish tendencies continue to persist. In such a scenario, the ADA/USDT pair could oscillate between the 50-day SMA and the uptrend line. A break below the uptrend line could hand over a short-term advantage to the bears.

Crypto Industry Gains Momentum from Ripple Lawsuit Outcome

A landmark event in the crypto industry that carries considerable significance for Cardano and the entire market is the recent lawsuit ruling between the Securities and Exchange Commission (SEC) and Ripple Labs Inc., a blockchain technology firm. The court ruling clarified that Ripple’s practice of listing XRP on exchanges for trading and using the proceeds to fund operations does not constitute an investment contract, hence XRP cannot be classified as a security.

The ruling is being seen as a victory for not just Ripple, but also the broader cryptocurrency market. Cardano, with its initial coin offering (ICO) in Japan and the absence of venture capitalist involvement, is particularly favorably impacted. The judgment affirms that Cardano’s ADA is almost certainly not a security, making the practice of selling tokens through exchanges perfectly legitimate. This clarity could lead to a resurgence in ADA’s listing on exchanges, thereby positively affecting its liquidity and accessibility.

NFT Market and its Implication on Cardano

The booming Non-Fungible Tokens (NFTs) market is also playing a role in Cardano’s favor. Whiskees NFTs, an NFT initiative operating on the Cardano blockchain, recently reported a noteworthy sale of 7000 ADA. This event signifies the growth of the NFT market and its positive contribution to the market cap of ADA.

Bullish Projections Drive Market Excitement

The recent surge in Cardano price has spurred numerous bullish predictions, adding to the excitement in the crypto community. Some industry watchers have suggested that a $3 ADA mark is a conservative estimate, hinting at a potential stellar performance by the digital asset in the near future.

Despite the promising signs, it’s crucial to remember that Cardano’s price, like all digital assets, is influenced by a multitude of factors and is subject to market fluctuations. Therefore, investors should approach with caution, performing thorough due diligence before diving into digital asset investments.

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The post Cardano Ascends: Why ADA Stands To Benefit From The XRP Court Decision Even More Than Ripple appeared first on CaptainAltcoin.

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Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 0.3606 (-100%)

ada cardano july average exponential moving ema

Источник: captainaltcoin.com

ada cardano → Результатов: 126


Фото:

Cardano (ADA) Drops 26.96%, Investors Shift Portion Of Their Portfolio to New A.i Driven Token O2T Before BTC Halving

In a significant market movement, Cardano (ADA) has seen a sharp decline of 26. 96%, prompting investors to reassess their portfolios. As the crypto community braces for the upcoming Bitcoin halving, many are turning to emerging technologies, such as the AI-driven token from Option2Trade (O2T), which offers a promising alternative to traditional investments like Cardano (ADA).

2024-4-17 20:00


Cardano за неделю упал более чем на 10%

Cardano (ADA) оказался на самом низком уровне с 26 февраля. За неделю его стоимость упала более чем на 10%. В ночь на четверг, 4 апреля, курс ADA опустился до $0,579. В марте альткоин торговался на максимальном уровне с 5 мая 2022 года.

2024-4-4 00:01


Cardano Mirrors Previous Bull Cycle: Analyst Eyes $10 for ADA If This Happens

Cardano (ADA), the popular smart contract platform, is showing signs of a potential bullish continuation as its price action appears to be mirroring patterns observed in its previous bull cycle. As ADA consolidates above key support levels, traders and analysts are growing increasingly optimistic about the token’s prospects, with some even suggesting a potential parabolic […] The post Cardano Mirrors Previous Bull Cycle: Analyst Eyes $10 for ADA If This Happens appeared first on CaptainAltcoin.

2024-3-6 22:15


Артур Хэйес назвал токен ADA «собачьим дерьмом»

Экс-CEO BitMEX Артур Хэйес назвал нативный токен блокчейна Cardano (ADA) «собачьим дерьмом» из-за низкого использования в протоколах. For all you $ADA believers, what dAPP on this list originally launched on Cardano, or has a Cardano offering that is heavily used? From my very limited knowledge, looks like none of them do. That's why $ADA is […]

2024-2-22 20:31


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