Bitcoin Collapse to $60,0000 Leaves XRP, ADA At Risk
- XRP and ADA contracts worth a combined 2.32 million were liquidated in the last 24 hours.
- The XRP/USD chart showed a death cross, suggesting a decline to $0.46.
- ADA experienced a lack of capital flow, prompting a prediction of $0.42.
Bitcoin’s (BTC) price decrease to $60,800 might have left Ripple (XRP) and Cardano (ADA) on the brink of another plunge. According to Coinglass, the decline caused a total of $156 million in liquidations in the last 24 hours.
Data showed that longs accounted for a large part of this wipeout. For XRP, there was a sum of $1.80 million in liquidations. ADA, on the other hand, recorded a total of $520,000 in money lost by traders.
Crypto Market Liquidation (Source: Coinglass)
At press time, XRP’s price was $0.50 after losing 2.41% of its value in the last 24 hours. Cardano dropped by 3.79% while its price was $0.44 as of this writing.
XRP Price Analysis
The 4-hour XRP/USD chart showed that the token had formed a symmetrical triangle with a peak at $0.55 and a crest of $0.51. For those unfamiliar, a symmetrical triangle pattern forms when the price of a token is forced to break down or break out after a period of…
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