Crypto price predictions: Cardano (ADA), Bitcoin (BTC), Ripple (XRP)

A risk-on mood has continued to bolster cryptocurrencies, with the top cryptocurrency, Bitcoin, holding steady above the psychologically crucial zone of $104,000. While investors remain cautious, heightened investor interest is expected to sustain the uptrend in the short term. 

This article provides a forecast for Bitcoin, Ripple (XRP), and Cardano (ADA).

Cardano price technical analysis

The four-hour chart shows that Cardano price has come under pressure in the past few days, moving from a high of $0.862 last week to $0.74 today. It has formed a falling wedge and a bullish flag pattern, a popular bullish continuation sign. 

Cardano price remains above the ascending trendline that connects the lowest swings since April 17th this year. Therefore, there is a likelihood that the token will bounce back as bulls target this month’s high of $0.862, which is about 15% above the current level. A drop below the psychological point at $0.70 will invalidate the bullish outlook.

Read more: Top crypto price predictions: Onyxcoin (XCN), Dogwifhat (WIF), Litecoin

Heightened investor interest to sustain Bitcoin price above crucial zone

Bitcoin price has held steady above the support zone of $101,395 for a week now after improved market sentiment bolstered the crypto major back above the psychologically crucial level of $100,000. Since early April when tariff-induced fears pushed it to a 5-month low at $74,588, BTC has since rebounded by close to 40%.

Notably, the US-China temporary truce has contributed to the shift in market sentiment. Indeed, it is one of the key reasons why the crypto fear & greed index has held steady in the greed end of the spectrum after reflecting extreme fear in April. 

Subsequently, US BTC spot ETFs have reported steady daily net inflows, with just two outflows since the beginning of May. Data released by SoSoValue showed a daily total net inflow of $114.96 million with BlackRock’s IBIT topping the list at $409.72 million.  

At the same time, Bitcoin’s trading volume rose by 13.23% over the past 24 hours as seen on CpinMarketCap. An increase in trading volume usually signifies a rise in investor interest. As such, the surge in BTC spot ETF inflows, heightened investor interest, and overall improvement in market sentiment may give the bulls a chance to retest the all-time high hit in January.

In the near term, the range between the current support zone of $101,395 and the next target at $106,561 is worth watching. Even with a pullback below this range, I expect Bitcoin price to continue trading above the 25-day EMA at $97,928.

XRP price stalls as judge rejects Ripple Labs - SEC agreement 

Ripple price hit a two-month high earlier in the week as the market reacted to the Ripple Labs and SEC joint request for an indicative ruling to execute a $50 million settlement agreement. However, Judge Analisa Torres has rejected it, terming it improper. The judge cited procedural issues, highlighting the need for a compelling case to reverse her ruling. She further outlined the requirements that both parties should meet to ensure the deal is reasonable and fair. 

In reaction to the ruling, Ripple price dropped below the support zone of $2.4377 even as it continues to trade above the 25 and 50-day EMAs. With a risk-on mood and potential Ripple Labs - SEC deal in the foreseeable future, the altcoin will likely find support along the 50-day EMA at $2.2828. If successful at rebounding above the support zone of $2.4377, the next target will be at $2.5557.