The cryptocurrency market has seen a shift in momentum as July begins, with a strong bullish jump after a bearish trend over the past month. Top tokens like XRP and ADA have shown promising signs by surpassing important levels, indicating a positive outlook for the future.
XRP has been trading in a consolidated range and formed a descending channel pattern, showing uncertainty in its price action. However, the technical indicators like RSI and SMA suggest increased buying pressure and a potential bullish trend for XRP in the coming days. If the market holds above the support level of $0.480, XRP could break out towards $0.5340.
On the other hand, Cardano (ADA) has seen a 3.86% jump in the past 24 hours and is on the verge of testing its resistance trendline. The RSI and SMA indicators also point towards a bullish sentiment for ADA, with a potential breakout towards $0.6140 if it surpasses the triangle pattern.
As for the $1 mark, XRP would need a 108.26% surge while ADA would require a 150.43% increase from their current prices. Given the current market conditions, it seems unlikely for these altcoins to achieve such significant gains in the near future. Investors will be closely watching the price movements of XRP and ADA to see which altcoin will hit $1 first.