XRP is up 6.72%, Cardano has gained 3.5% while ALGO/USD has spiked more than 40% in the past 24 hours
XRP, as well as Cardano and Algorand are all seeing an uptick in their respective market action. The coins are testing key resistance levels and could rally higher given the overall market sentiment that is trending bullish.
Ripple price
XRP/USD is trading around $0.297 at the time of writing, up 6.3% in the past 24 hours.
The technical picture for the third-ranked cryptocurrency by market cap suggests bulls are likely to see a breakout to recent highs around $0.32.
Ripple is bullish above an engulfing candle and a sustained uptrend could burst immediate resistance at $0.30. Further upsides bring $0.32 into frame, with a triangle breakout likely to aid bulls’ desires to retest prices at around $0.35.
The hourly technical picture suggests XRP/USD is also likely to see some sideways trading below $0.30 as the RSI is only slightly upturned. However, the MACD is forming a bullish divergence to indicate support for the upside is strong at current price levels.
A downward flip could see bulls rely on strong support at the 50 SMA at $0.288, which is a resistance-turned-support area.
Cardano price
Cardano bulls have recently struggled to form an uptrend, with the cryptocurrency outperforming most other top altcoins on the launch of its Shelley upgrade in July.
The momentum is with the bulls though as the cryptocurrency has surged over 3.5% in the past 24 hours. This comes as the staking of Cardano crosses 10 billion coins.
ADA/USD is trading at $0.13 with an intraday high of $0.14, suggesting
