Cryptocurrency prices bounced back in the overnight session after Donald Trump paused the sweeping tariffs on Mexico and Canada, removing one of the biggest risks in the market. Bitcoin jumped to over $100,000, while most altcoins jumped by over 10%. This article looks at top coins like Raydium (RAY), Ripple (XRP), Ondo Finance (ONDO), and Cardano (ADA).
Raydium (RAY): Solana DEX is firing on all cylinders
Raydium has evolved from a relatively small DEX network into one of the biggest, helped by the strong Solana ecosystem.It has handled over $125 billion in the last 30 days, bringing the cumulative total to $437 billion.
The RAY token crashed to a low of $4.1760 on Monday as concerns about Trump’s tariffs on China, Mexico, and Canada rose. Higher tariffs would lead to stagflation, a period characterized by a slowing economy and higher inflation.
The daily chart shows that the Raydium price bottomed at $4.1762 on February 3. It then bounced back, forming a hammer candlestick pattern, a popular bullish sign comprising of a long lower shadow and a small body.
Raydium price has also moved above the 50-day moving average and the major S/R of the Murrey Math Lines. Therefore, the coin will likely keep rising as bulls target the key resistance point at $8, up by almost 30% from the current level.
XRP price forecast: Major catalysts ahead
Ripple (XRP) crashed to a low of $1.7753, its lowest level since November 29 as the tariff fears jumped. It then formed a hammer candlestick pattern, with one of the longest lower shadows running from $2.6 to $1.7753.
The XRP coin has moved above the 50-day moving average and is attempting to cross the key resistance level at $2.9017, the upper side of the bullish pennant chart pattern. XRP has moved to the middle line of the Andrew’s pitchfork tool.
Therefore, the price will likely keep rising as buyers target $3.3070, the highest point this year, which is about 25% above the current level. The potential catalysts for the XRP price are:
- Ripple ETF approval.
- Ripple USD (RLUSD) volume.
- XRP Ledger’s growing momentum.
Cardano price prediction
The ADA coin also plunged on Monday, reaching a low of $0.50, its lowest level since November 10. It has moved slightly above the key resistance level at $0.770, the neckline of the double-top pattern at $1.165. A double-top is a highly bearish chart pattern.
Cardano also remains significantly below the 50-day moving average, a sign that bears are still in control. It has also moved to the 50% Fibonacci Retracement level. Therefore, Cardano may resume the downward trend and possibly retest the support at $0.50.
On the positive side, Cardano has some bullish catalysts, including a potential ADA ETF approval, the upcoming Midnight launch, and the BitcoinOS integration. Cardano is also one of the chains seeing a substantial increase in developer activity.
Ondo Finance (ONDO) price forecast
Ondo price has crashed at $0.9236, its lowest point on Monday. It has moved slightly above the 50-day Exponential Moving Average. It has rebounded slightly above the 50-day moving average.
The coin has formed a falling wedge chart pattern, a popular bullish reversal sign in the market. Ondo has also formed a cup and handle chart pattern, a continuation sign. Also, the Relative Strength Index (RSI) and the MACD indicators have tilted upwards.
Therefore, the Ondo crypto price will likely remain in a strong bullish momentum, with the next point to watch being at $2.
Read more: 4 best crypto to invest in ahead of the XRP and Solana ETF approvals
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