Solana and Cardano show resilience, awaiting government resolutions.
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As the U.S. government shutdown persists, the release of critical data and reports remains on hold. In the financial landscape, cryptocurrency markets are notably showing volatility influenced by stock market fluctuations and Trump’s remarks. Notably, Bitcoin (BTC) $105,960 secured a promising position at $107,000 over the weekend. How might XRP, ETH, DOGE, SOL, and ADA coins perform in the upcoming hours?
ContentsXRP, ETH, and DOGE InsightsPerformance of Solana and Cardano (ADA) XRP, ETH, and DOGE Insights
The expected decision on XRP ETF applications scheduled for October 17 was postponed due to the government shutdown. In a significant move, Ripple $2 acquired a treasury management firm for $1 billion. This acquisition aims to demonstrate the potential for blockchain-based company reporting to its corporate clientele. This marks Ripple’s third major acquisition this year, aligning with its long-term growth objectives.
For XRP Coin, maintaining a price above $2.3 is crucial. While the price lingers around $2.3, a close above this level is deemed relatively positive. Potential upward movements could test $2.6, but for a stronger ascent, surpassing the $2.73 threshold is essential. Should BTC return to $117,000, XRP might revisit the $3 mark. However, both scenarios seem unlikely in the short term, with $2.11 serving as a support in a downward trajectory.
After slipping to $3,400, Ethereum (ETH) $3,807 rebounded but continues to form lower highs. Holding the line at $3,725 is vital. Should the prices surge, targets of $4,069 and $4,245 might emerge.
Amid the market’s negativity, Dogecoin $0.184064 (DOGE) traded at $0.096 last week but currently hovers around $0.18. The key support level is $0.185, and breaching this might lead to declines to $0.173 and $0.158. If optimism returns, the $0.2 to $0.226 range could be the new target.
Performance of Solana and Cardano (ADA)
Compared to many altcoins, Solana $182 (SOL) has demonstrated resilience, sustaining limited losses. Its price maintains above $183, with ETF approvals anticipated soon after the government shutdown concludes. Typically, such shutdowns are brief, rarely exceeding three to four weeks.
Solana’s robust community aids its stability, presenting SOL Coin as a viable option for mid-to-long-term investments. Short-term strategies might involve preparing for unexpected declines, notably Trump’s sporadic outbursts, with the $166-168 range offering strong support. Closures above $188 could provide encouragement for those anticipating growth.
In concluding, Cardano (ADA) $0.620781 witnesses a sharp decline to $0.27, losing 67% of its value. While buyers seized the opportunity for a swift recovery, a steady decline ensued. Preserving the $0.62 support is crucial to avert a fall back to $0.54. Conversely, reclaiming $0.67 could pave the way for a retest of $0.733.
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