XRP, ADA and BNB Price Analysis for June 16

Bears remain more powerful than bulls according to the CoinMarketCap ranking; however, there are some exceptions to the rule.

Top coins by CoinMarketCap

XRP/USD

XRP has not joined the list of rising coins, falling by 3.31%.

Image by TradingView

The rate of XRP has once again failed to fix above the $0.48 mark, which means sellers keep controlling the situation on the market. If today’s candle is below yesterday’s low at $0.465, the decline can continue to the $0.44 zone. Such a scenario is relevant until the end of the week.

XRP is trading at $0.4581 at press time.

BNB/USD

Unlike most other coins, the rate of Binance coin (BNB) has increased by 0.58%.

Image by TradingView

Despite today’s slight growth, the rate of BNB is not ready yet for a bounce back as the price has come back below the level of $239.5. If the drop leads to the $230 zone, there is a high chance of seeing a support breakout, followed by a dump to the crucial $200 area.

BNB is trading at $235.5 at press time.

ADA/USD

The rate of Cardano (ADA) has fallen by 1.12% since yesterday.

Image by TradingView

The rate of Cardano (ADA) is coming back to the recently formed support level at $0.2560. The price has not risen after a false breakout, which means that buyers are not powerful enough to seize the initiative. In this case, the ongoing correction to the $0.24 range is the more likely scenario for the next couple of days.

ADA is trading at $0.2558 at press time.