Altcoin prices recorded mild increases in the last seven days. While some performed better, others struggled to maintain the momentum. One of those facing difficulties was Binance Coin (BNB).
According to CoinMarketCap, BNB’s price declined by 1.25% over the past week. However, Ripple (XRP), Cardano (ADA), and Toncoin (TON) showed notable performance. As of press time, XRP’s price increased by 4.02%, ADA’s value rose by 8.10%, and TON moved up by 7.05%.
Despite the weekly gains, some tokens have failed to sustain their increases in the last 24 hours. This article by Coin Edition examines the performance of XRP compared to ADA, and BNB against TON.
XRP vs. ADA
When compared with ADA, XRP underperformed. ADA’s returns were consistently higher, averaging 5% more than XRP.
Furthermore, Coin Edition looked at the Money Flow Index (MFI) and noticed that it was 85.51. Reading over 80.00 implies that an asset is overbought. When the MFI is 20.00, it indicates that the asset is oversold.
Cardano was also approaching overbought territory, suggesting a potential price decline. For XRP, the price could drop back to $0.50, while ADA, recently at $0.48, could decline to $0.46.
XRP/USD Against ADA/USD 4-Hour Chart (Source: TradingView)
BNB vs. TON
For BNB, the price stalled at $580 with an overhead resistance at $600. A rise in buying pressure could send BNB’s price above the resistance. A look at the Bollinger Bands (BB) showed that volatility around the token was increasing
This volatility implies that the price could surge higher in a bullish scenario, and the dump could be harder in a bearish one. TON displayed a similar pattern to BNB suggesting that if BNB’s price increases, TON might follow suit.
BNB/USD Against TON/USD 4-Hour Chart (Source: TradingView)
In the meantime, the Awesome Oscillator (AO) was negative, but the green bars indicated that a bullish momentum might surface which could take TON to $7.50 and BNB toward $612.
The recent shifts in altcoin prices underscore the volatile nature of the cryptocurrency market. While assets like XRP, ADA, and TON have demonstrated resilience, fluctuations in BNB highlight ongoing challenges.
Even as traders navigate these changes, the potential for significant price movements remains high, driven by market dynamics and investor sentiment.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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