Over the last two weeks, the cryptocurrency market has been affected by several factors, including the SEC labeling 68 altcoins as securities. The announcement sent most altcoins into sell-off mode, but with the markets now more stable, how are XRP, ADA, SOL, and TCRV faring?
Ripple (XRP) Price Analysis
For more than two years, Ripple (XRP) has been in court fighting the SEC over its listing as an unregistered security. So, the recent announcement forced a sell-off for XRP as the price of the token broke under the critical $0.56 support level.
XRP bulls are currently attempting to push the price of the token above the 20-day exponential moving average to mark a bull market. If this happens, XRP could make a move from its current price of $0.4806 back to retest the $0.56 support.
Cardano (ADA) Price Analysis
Cardano was one of the worst hits during the market sell-off, with its price falling to its lowest price since the start of January. In a week, the price of Cardano (ADA) fell by 35%, plunging below the $0.300 support and finding a bottom at the $0.24 support level.
Cardano (ADA) has stabilized at the $0.24 level, with the bulls attempting to stall the price decline. A lack of momentum suggests that the price of Cardano (ADA) may consolidate around $0.24 and $0.30 for some time.
Solana (SOL) Price Analysis
The decline of Solana (SOL) was worse than most other digital assets, with the token losing 42% of its value in under a week. Despite the losses, Solana is already embarking on a comeback, bouncing off the $14 support level to reclaim the $15.28 support and trade as high as $15.67 today.
Solana (SOL) buyers have been accumulating the token, leading to its rally. However, they still have work to be done if SOL is to remain above $15.28. To sustain this bullish momentum, buyers would need to keep pushing the price of SOL toward the $16 mark as a recovery of the 20-day EMA at $17.52. If this happens, then SOL can retest the $18 support it lost.
Tradecurve (TCRV) Price Analysis
Unlike the other digital assets covered, Tradecurve (TCRV) has been rallying instead of suffering a major price decline. Over the last week, the price of TCRV has increased by 20% to set a new high at $0.018 to continue a strong bullish performance.
Like other cryptos, the recent bullish performance of Tradecurve (TCRV) is sponsored by an increasing number of investors in the project.
Tradecurve has managed to capture this bullish attention within the bearish crypto space as it is building the first decentralized platform that will give users the opportunity to trade derivatives (stocks, forex, options, and commodities) and cryptocurrencies from one account.
Market experts have predicted that as more traders jump into the Tradecurve platform, its price could increase from $0.018 to above $0.025 in the upcoming weeks.
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