The crypto world never stops moving, and this time the spotlight is on two digital assets that are preparing to surge: Cardano (ADA) and Ripple (XRP). Both of these assets show attractive signals for market participants who are always wary of any price changes.
Get to know Cardano (ADA)
Cardano, known by the symbol ADA, is one of the most anticipated blockchain projects. With a design focused on security and scalability, Cardano has attracted the attention of investors and developers around the world.
Based on peer-reviewed academic research, Cardano was developed by a team of engineers, mathematicians, and scientists committed to creating a decentralized, secure, and efficient network.
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Ripple (XRP): A Revolutionary Global Payment Network
Ripple, with its XRP token, is a platform that provides a blockchain-based digital payment network and protocol. Ripple allows seamless digital money transfers, both in the form of conventional and crypto currencies. With technology that enables decentralized and secure payments, Ripple has become the choice for many global financial institutions.
ADA and XRP Price Technical Analysis
ADA has decreased in price to $0.55 (approximately IDR 8,571,750), indicating an accumulation of short positions. However, with a steady price movement below $0.75 (IDR 11,688,750), there is a possibility of a short squeeze that can push the price up to $1 (IDR 15,585,000), an increase of about 40% from the current price.
Based on data from Bittime, the price of ADA is currently trading at the level of Rp11,864. ADA's price performance jumped 5.90% in the last 24 hours.
XRP, then, experienced a sideways movement after dropping to $0.50 (IDR 7,792,500) in early March. With a large volume of short positions, massive purchases by large investors could trigger liquidations that would boost XRP's price to above $0.70 (IDR 10,909,500), up about 15%.
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Even so, investors and traders must be careful in making investment decisions amid a potential short squeeze. A mature risk management strategy is needed to avoid unexpected losses.
Short squeeze is a phenomenon in financial markets that occurs when the price of an asset increases sharply because many sellers (short sellers) are forced to buy back the asset to close their positions.
This usually happens when short sellers, who are betting on falling asset prices, have to buy an asset at a higher price to avoid bigger losses, which in turn pushes the price of that asset up even further. This phenomenon can occur in all types of financial markets and is often accompanied by a spike in trading volume.
Conclusion
With the current technical analysis and market sentiment, the price of ADA and XRP can be an exciting opportunity for traders. However, it is important to do in-depth research and not rely entirely on market predictions.
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How to Buy Ripple (XRP) on Bittime
You can buy and sell Ripple (XRP) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Ripple (XRP) is available on Bittime with the XRP/USD market pair. To be able to buy XRP IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Ripple (XRP) on Bittime.
Monitor the price chart movements of Ripple (XRP), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Ripple (XRP): SEC Requests Ripple's Financial Report Post-Approval of Bitcoin Spot ETF
Analyst: Cardano (ADA) Decline a Bullish Sign?
Tracing the Conspiracy Behind XRP
How to Stake Cardano (ADA): It's Easy to Use It!
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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