XRP Falls Below Price Threshold
Despite the recent market resurgence, XRP has failed to capitalize on the Bitcoin uptrend and has now collapsed along with the rest of the market. It only reclaimed the $0.70 territory while other altcoins reached new highs. However, XRP is still considered one of the top cryptocurrencies to watch. Palau’s Ministry of Finance reported satisfaction with the country’s Ripple-based Central Bank Digital Currency (CBDC) pilot program, but XRP’s price has since dropped below $0.60. Despite bearish sentiments, XRP has managed to stay above this threshold and currently trades at $0.62, representing a 6.39% drop from its starting price this week.
ADA Reaches 19-Month High
Cardano stands out as one of the best performers this week, defying the market trend as Bitcoin and Ethereum experience declines. Cardano’s uptrend was driven by breaking above a bullish flag pattern. After consolidating in a range for some time, Cardano formed a bullish pennant structure and broke out on December 2, leading to new highs. Although it faced a roadblock and experienced a 10% drop, Cardano’s price has stabilized at $0.6002, marking a 3.6% increase this week.
SHIB Surprises as Top Gainer
Shiba Inu made a surprising entry into the list of top gainers this week, rallying 24.2%. The Ethereum-based altcoin underperformed throughout the week but had generally bullish prospects due to milestones achieved by the Shibarium ecosystem layer-2 protocol and increased adoption. As a result, SHIB closed with a 20.9% gain on December 16, marking its largest intraday upsurge in several months. Despite a recent 8% collapse, SHIB has retained most of its gains and currently trades at $0.00001066, up 6.38% for the week.
Hot Take: Mixed Price Actions for XRP, ADA, and SHIB
This week, XRP, ADA, and SHIB experienced mixed price actions. XRP fell below its price threshold despite being among the top cryptocurrencies to watch. ADA reached a 19-month high after breaking above a bullish flag pattern. Lastly, SHIB made a surprising entry as one of the top gainers this week due to milestones achieved by the Shibarium ecosystem and increased adoption. While each cryptocurrency faced challenges and fluctuations in their prices, they continue to be closely watched by crypto enthusiasts.
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