XRP News Today: Cardano's ADA Drops 15% in 30 Days Amid Bearish Pressure

Cardano's ADA is currently navigating a challenging period as it approaches a critical support zone. The cryptocurrency has been under bearish pressure, with its price down 15% over the past 30 days and 44% below its year-to-date highs. The token's recent decline has been influenced by several factors, including a decrease in network activity and the delay in the U.S. Securities and Exchange Commission's decision on Grayscale’s spot Cardano ETF until July 15, 2025.

Despite the recent weakness, there are signs of potential recovery. ADA is forming a falling wedge pattern on the daily chart, a structure commonly associated with trend reversals. This pattern suggests that the price action is narrowing toward a crucial support level at $0.51, which was previously defended by bulls during a corrective phase in April. If ADA continues to drop toward this level, it could precede a trend reversal if buyers regain control.

The token has also slipped below its 20-day exponential moving average, reinforcing short-term bearish pressure. The MACD remains negative, indicating a lack of bullish momentum, while the Relative Strength Index stands at 41, signaling bearish conditions without yet reaching oversold territory. A decisive breakout above the wedge and key resistance at $0.68 could signal a reversal and drive ADA toward the $0.86 level, approximately 34% above current prices. Conversely, failure to hold above $0.51 could expose ADA to a deeper decline toward $0.32, the next major support.

While price action remains weak, fresh developments may offer a catalyst for recovery. Cardano founder Charles Hoskinson recently confirmed that XRP will be integrated into Lace Wallet, Cardano’s native wallet platform. This move will allow users to manage XRP alongside ADA and Bitcoin, increasing utility and cross-asset exposure. Additionally, Cardano is exploring XRP-based DeFi initiatives and potential integration of Ripple’s RLUSD stablecoin, which could boost liquidity across its ecosystem.

Further upside catalysts include the anticipated Glacier airdrop, linked to Cardano’s Midnight protocol, and Hoskinson’s proposal to convert $100 million worth of ADA into Bitcoin and stablecoins. The treasury strategy aims to generate non-inflationary revenue and stimulate growth within the Cardano DeFi ecosystem. These developments could provide the necessary momentum for ADA to escape the current bearish momentum and find support at the $0.51 level, potentially leading to a bullish reversal.