XRP, ADA Prices Have High Chances of Rebounding, Santiment Says, Here’s Why

Popular on-chain data aggregator Santiment has posted a tweet, showing that XRP and ADA have high chances to rebound soon after a recent sell-off that hit the whole cryptocurrency market.

According to the data shared by Santiment, many cryptocurrencies are being sold at a loss now after the high profit taking that hit the market last week. XRP and ADA are among them. However, since these two cryptos arebeing sold-off more than others at low prices, the chances of rebounding for XRP and ADA are growing to become high.

📊 Top cap #crypto assets are being traded at a loss after the high profit taking last week, lending to the price drop we’ve seen. $XRP and $ADA are seeing a particularly high amount of sells at lower prices, making the chances of bounces increase. https://t.co/Ntt3HoC52S pic.twitter.com/z5BatBNlKe

— Santiment (@santimentfeed) July 7, 2023

ADA market performance

A week ago, on Friday, ADA printed a massive red candle on the hourly chart, falling 6.83%. After rebounding a little within the next several days, it has dropped 3.27% since June 5. In total, the price fall since last Friday constitutes 4.43%.

At the time of writing this article, Cardano’s native coin is changing hands at $0.285 on the Binance exchange.

XRP price decline

The Ripple-affiliated digital currency XRP has fallen harder than Cardano since last week. The fall began after a 4.72% rise on Sunday, July 2. However, after that by Wednesday, XRP first shed 3.62% and then the decline continued, the coin lost nearly 2% by now. The total price decrease since July 2 has been 5.49% as the coin is trading at $0.4667 at the moment on Binance.

At the moment, both ADA and XRP are showing signs of recovery.