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Ripple (XRP) v Cardano (ADA): What Asset Will Lead in Recovery?

Ripple and Cardano's bulls point to a slight market rebound although the latter's growth outpaced the former today.

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Updated 27 Aug, 2024 | 10:22:03 AM UTC

Ripple (XRP) v Cardano (ADA): What Asset Will Lead in Recovery?

Ripple (XRP) and Cardano (ADA) attempted price recoveries from the slight correction as intraday trading gained momentum. The crypto market has picked up huge gains this week but faced slight corrections in the last 24 hours leading to speculation on the rebound of assets. As crypto assets recover, bulls expect inflows in top assets taking the market cap to previous positions.

At press time, the crypto market capitalization stands at $2.78 trillion marking a 0.4% increase. Bitcoin and altcoins posts slight gains as users anticipate a turn in market sentiments. Ranked as the seventh crypto asset by market, XRP holders predicted huge runs to end the year although certain factors might have hindered an upward run.

Cardano Beats Ripple in Short-term Gains

On-chain data shows market activity as bulls rally around ADA in the past 24 hours. ADA trades at $0.485, a 6% growth today as the wider market rebounds. This also pushed up weekly inflows to 6.8%. With a market capitalization of $17.2 billion, its trading volumes rose to above $496 million. These gains are above other altcoins as the community dubbed ETH-killer seeks to recover previous losses.

The jump in Cardano comes after the partnership to increase blockchain adoption in Argentina. In an agreement that will strengthen web3 relations, the Cardano Foundation will be at the fore building momentum for the asset.

Ripple Trades Sideways

On the other hand, Ripple bulls await a breakout as the price attempts a slight recovery. XRP is up 0.2% and exchanges hands at $0.526 as midday gains trickle in. While regulatory issues have affected the price of XRP, holders remain positive of an upward trajectory on the heels of the bull market. XRP’s market capitalization is at $29.2 billion while trading volume maintains its position above $933 million.

The wider market trades sideways with several assets notching slight inflows. Overall meme coins have been the highest gainers in the market in the last 24 hours.

Also Read: Shiba Inu Price Declines Once Again, What’s Coming Next?

David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

Published by

David Pokima

Updated: 27 Aug, 2024 | 10:22:03 AM GMT

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