Wednesday, 28 February 2024

Crypto News

Meme Moguls price outlook as Cardano and XRP eye bounce

XRP price jumps 10% to hit 5-month high above $0.50

  • Ripple (XRP) price is above $0.57 while Cardano (ADA) is at $0.55.
  • Both altcoins could eye the $1 price level in 2024 as the market intensifies its bullish outlook.
  • Meme Moguls is a new project in presale, currently priced at $0.0027 as interest pushes total raised amount to over $1.4 million.

Cardano (ADA) and XRP (XRP) are two of the top 10 coins by market cap that could rip higher amid the current bull market expectations. The crypto market is also keen on Meme Moguls (MGLS), a new token in presale that has attracted over $1.4 million.   

Which altcoin hits the psychological $1 first – ADA or XRP? Could MGLS outperform post-launch?

XRP price prediction: Can bulls break $1 barrier in 2024?

Ripple scored a major win against the US Securities and Exchange Commission (SEC) in 2023, with XRP declared not a security. While XRP price surged amid the resulting exuberance, the rally faded just above the $0.94 mark in July.

Another upside move collapsed above $0.74 in November. XRP price however remains well above the lows of $0.30 reached in January 2023. 

Although CoinGecko data shows the altcoin’s value has declined 8% over the past 30 days, its gains over the past year currently stand at 66%.

Ripple’s established presence in the global payments market means further traction for XRP. Also notable is the imminent end to its legal battles with the SEC. Regulatory clarity combined with a confluence of positive market catalysts, including spot ETFs momentum, could be big for crypto, not just XRP.

In this case, a break above $0.74 brings the $1 mark into view and could see XRP target $1.5. The all-time high for XRP/USD is $.40 reached in 2018.

Cardano (ADA) price prediction: $0.70 is a key hurdle

The price of Cardano (ADA) is currently poised above $0.55 as buyers look to recover from this week’s dip in crypto prices amid the spot Bitcoin ETF speculation.  

For Cardano bulls, price needs to hold above $0.55 for upside continuation. If that happens, a break to $0.70 could bring $1 into play. According to crypto analyst Captain Faibik, a bullish pennant suggests a potential 30-40% surge in ADA price.

But with the altcoin having struggled for…

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