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Cardano, XRP price prediction for this week

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Cardano and XRP both have a short-term bearish bias- with the latter unable to break an eight-month range even though BTC reached a new ATH.

Yet, in the past two weeks, sentiment across the crypto market has been muted. The strength of the bulls was curtailed byThe 4-hour bearish order block was briefly flipped to support in the first half of March. Unfortunately for the bulls, they couldn’t hold on.Yet, the RSI was below neutral 50 to highlight downward momentum was building up. The OBV was retesting the December highs as support.A move to the 61.8%-78.6% retracement levels at $0.586-$0.523 is anticipated. The $0.

The confluence of the price action and the liquidation heatmap supported the idea that further losses could arrive, but that a recovery was likely thereafter.XRP has been stuck within a range since August 2023. This range extended from $0.46 to $0.7. Over the past three weeks, the price has tested the mid-point at $0.58 as support.Such a retracement would offer a good buying opportunity. During the rally in February, XRP prices consolidated at the $0.527-$0.

Also, the Open Interest on XRP contracts has trended downward alongside the price in the past ten days, indicating that bullish conviction has weakened by a large amount.

 

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