What’s Next for XRP, DOGE And ADA Ahead of U.S. Government Shutdown Resolution

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What's Next for XRP, DOGE And ADA Ahead of U.S. Government Shutdown Resolution

Highlights

  • XRP, DOGE, And ADA benefit from U.S. government shutdown resolution optimism.
  • XRP surges after Nasdaq approves first-ever spot XRP ETF launch.
  • DOGE ETF potential sparks renewed investor confidence and market growth.

The Crypto market has experienced a 0.81% rise over the past 24 hours, signaling a recovery after a week of consolidation. The crypto market, like XRP, DOGE, and ADA, have shown price surges, with investors eyeing potential gains. 

In the meantime, Bitcoin price eyes recovery, with Ethereum hovering above $3,500. This shift of the market follows the U.S. government shutdown, which is imminent, and many are speculating on the possible effects on the market.

XRP Price Surges as Nasdaq Approves First Spot XRP ETF

XRP price surged to $2.50, experiencing a 4% rise in 24 hours and a 7% increase over the past week. This increase comes after Nasdaq gave the green light to the first-ever U.S.-supported spot XRP ETF, XRPC, and the market is now excited. The launch of the ETF resulted in a volume and whale accumulation by a significant margin of $163 million.

Moreover, the U.S. government shutdown was resolved, which increased the mood of the entire market, which additional protected the bullish movement of XRP. This incident will put XRP in a position to gain growth in the future, drawing increased institutional attention and making it more legitimate.

Dogecoin ETF News Sparks Market Surge and Optimism

XRP, DOGE, and ADA are seeing positive movement as the U.S. government shutdown nears resolution. Dogecoin has been performing well, with its price holding steady above $0.1759. The cryptocurrency was up by 2% in the past 24 hours and 7% in the past week, which is an improvement after registering some recent declines.

Additionally, the possibility of a Dogecoin ETF launch has sparked renewed interest in the cryptocurrency market. Grayscale Investments has registered Dogecoin ETFs in the Depository Trust and Clearing Corporation registry recently. This move suggests that an imminent ETF launch is now becoming increasingly likely for Dogecoin. As the market sentiment picks up, whales continue to accumulate more Dogecoin, fueling increased excitement.

Cardano Price Eyes Bullish Ahead of GOVT Shutdown Resolution

Cardano price rallied to $0.5679, showing a 5% increase over the past week. ADA might experience additional gains, although it was below its upward trendline, above the support of $0.517. The next possible boom is anticipated, particularly after reopening the U.S. government, which will stimulate the growth of altcoins such as ADA.

The market of ADA derivatives in Cardano is also growing significantly. The trading volume increased by 35.77, and it has reached $1.34 billion. In the meantime, the open interest has increased by 3.66, amounting to $684.24 million. This growth is an indicator of growth in participation and investor confidence in the ADA ecosystem, which can be described as a positive tendency.

What's Next for XRP, DOGE And ADA Ahead of U.S. Government Shutdown Resolution
Source: Coinglass

What’s Next For XRP, DOGE, And ADA Prices?

The U.S. government shutdown resolution may reinforce market sentiments, which will be beneficial to XRP, DOGE, and ADA. The growth of XRP is attributable to the fact that Nasdaq passed the first spot XRP ETF, and this move gave investors confidence.

The possible launch of the ETF of Dogecoin creates some hope, and the development of Cardano goes on. All these factors indicate that bullish trends of these cryptocurrencies will continue in the near future.

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Frequently Asked Questions (FAQs)

1. What is driving the recent price surge for XRP, DOGE, and ADA?

The price surges are driven by positive market sentiment, institutional interest, and potential ETF launches, particularly after the U.S. government shutdown resolution.

2. How does the approval of the first XRP ETF impact its price?

The approval of the first spot XRP ETF by Nasdaq boosts investor confidence and institutional adoption, leading to a price surge and increased trading volume.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.