Cardano, XRP struggle for profits: Here’s an in-depth look

As an experienced analyst, I have closely monitored the market trends and performances of various cryptocurrencies, including XRP and ADA. Last week, sentiment around these tokens remained bearish, which was evident from their lower profit percentages compared to other top cryptos like Bitcoin and Ethereum. While metrics and market indicators suggested potential price upticks for both tokens, their underwhelming performances left many investors disappointed.

Lately, the market has seen a surge of bullish trends, bringing about substantial profits for most investors. However, this wasn’t the case for Cardano [ADA] and Ripple [XRP]. In contrast to other leading cryptocurrencies like Bitcoin [BTC], their profit yields were significantly less generous.

XRP and ADA’s underwhelming performances

As a researcher, I’ve come across Santiment’s recent tweet showcasing some leading cryptocurrencies and their impressive returns. Unsurprisingly, Bitcoin (BTC) and Ethereum (ETH) claimed the top spots with returns of 98.3% and 95.1%, respectively.

From a crypto investor’s perspective, the XRP supply situation wasn’t encouraging since only 78% of it was generating profits. The case of ADA was even more disheartening, with less than half of its total supply currently profitable.

Last week, I closely monitored the sentiment analysis conducted by AMBCrypto on Santiment’s data regarding two specific cryptocurrency tokens. The findings indicated that the weighted sentiment for both coins remained predominantly negative throughout the majority of the days last week.

This clearly suggested that bearish sentiment around these tokens was dominant in the market.

Cardano, XRP struggle for profits: Here’s an in-depth look

As a researcher studying the cryptocurrency market, I’ve observed that XRP‘s price remained relatively stagnant last week, inching up only slightly. Based on data from CoinMarketCap, at the moment of writing this, XRP is priced at $0.5239 and boasts a market capitalization surpassing $29 billion.

As a crypto investor, I’ve noticed some positive signs for Cardano (ADA) recently. The weekly chart indicates a price surge of more than 3%. At the current moment, ADA is priced at $0.4653 and boasts a market capitalization exceeding $16.6 billion.

Will XRP, ADA earn investors profits?

An in-depth examination of the on-chart data by AMBCrypto aimed to provide insights into if these digital tokens were poised for a price hike, potentially yielding gains for investors.

Based on my analysis of Santiment’s data, I observed that the MVRV ratios for both tokens have seen an improvement over the past week. This bullish sign implies that the market value of these tokens is now greater than their realized costs, suggesting potential gains.

Cardano, XRP struggle for profits: Here’s an in-depth look

In addition, the fear and greed levels of these tokens were equal at the current moment. Consequently, it was still uncertain whether their prices would remain stable or become unpredictable.

As an analyst, I examined their daily charts closely to decipher the insights from the technical indicators. My discovery: XRP‘s price has been confined within an uptrending channel over the past few weeks, indicating consolidation before potentially continuing its upward trajectory.

As a crypto investor, I can tell you that at the current moment, XRP is just shy of bursting through to new heights. If it manages to pull off a successful breakout, we could see XRP’s price challenging its March highs once again within the next few weeks.

Read Ripple’s [XRP] Price Prediction 2024-25

Concerning Cardano, the Money Flow Index (MFI) showed a significant surge, while the Relative Strength Index (RSI) shifted upward. These indicators suggest a likely rise in Cardano’s price.

However, the Chaikin Money Flow (CMF) looked troublesome as it went southward.

2024-06-08 06:15

XRP and ADA’s underwhelming performances

Will XRP, ADA earn investors profits?

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