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Mixed Market Sentiment Trails Altcoins As ADA Dethrones XRP

Mixed Market Sentiment Trails Altcoins As ADA Dethrones XRP


The last seven days were filled with mixed market sentiment as some alts attained a new all-time high while some sank. One such altcoin is Cardano.

The last 24 hours saw ADA gained more than 15% as it climbs to an all-time high of $2.43. The coin also gained more than 50% in the last seven days. The current price of ADA propels the coin up the market cap rank as it dethrones XRP to become the fourth-largest coin.

As of the time of writing, the ADA market cap is more than $77 billion and exceed that of XRP by more than $5 billion. At this time XRP is currently the fifth-largest coin with DOGE trailing behind.

Coinfomania reported the inevitable ATH in one analysis. While reporting ADA previous all-time high of around $1.82, the analyst stated that cardano could surge as high as $2 before the month’s end.

Another coin that attained a new ATH during the last seven days is MATIC. In one weekly market outlook, Polygon was listed as one coin to watch this week as it will attain a new ATH and it did as it gained more than 100% in the last seven days and had an ATH of $1.86.

Unfortunately, meme coins like Shiba Inu and DOGE couldn’t all on to their various supports as they are experiencing price corrections. SHIB lost 50% in five days after attaining its all-time high. A dramatic week for dogecoin as it lost more than 1% in the last seven days.

The next seven days will see more mixed actions as more alts will surge and market cap ranking change. If cardano continues to enjoy the bullish momentum, the fourth-largest coin may climb up the market cap ranking if it surges to $3.

The bears may also capitalise on ADA may drop to as low as $2. Dogelon may also recover from the massive price drop it suffered in the last four days.

 

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