XRP Surges 321.20% Amid SEC Lawsuit Dismissal, Cardano Gains 107.95% on Institutional Support

XRP, the cryptocurrency associated with Ripple Labs, is poised for new heights following the U.S. Securities and Exchange Commission's decision to drop its lawsuit against the company. This regulatory shift has sparked optimism within the crypto community, with many speculating that the SEC could approve XRP ETF filings in the near future. The price of XRP has shown significant volatility, with a recent decline of 7.39% contrasting with an impressive 321.20% surge over the past six months. The cryptocurrency has traded within a range of $1.60 to $2.88, reflecting a mix of volatility and recovery. Current support is at $1.06, with immediate resistance at $3.61 and secondary resistance at $4.89. Market indicators suggest a neutral signal, with bulls and bears in close contest.

Cardano (ADA) has also seen a rise in its market capitalization, driven by strong community support and institutional developments. The cryptocurrency has experienced a near 10% drop in the past month but has shown an impressive 107.95% gain over the last six months. Recent price movements indicate a swift rebound after a brief correction, with volatility marking the latest sessions. The strong half-year rally highlights its ability to recover quickly, demonstrating solid performance over longer periods despite short-term setbacks. The current price is situated between $0.44 and $0.88, facing immediate resistance at $1.15 and support around $0.26. The market shows a slight bearish sentiment based on moving averages, while oscillators provide neutral signals.

Recent institutional developments have further strengthened Cardano’s market position. Coinbase is set to introduce ADA futures trading on March 31, 2025, potentially increasing liquidity and improving price discovery mechanisms for the asset. Additionally, Amina Bank has integrated Cardano staking services, creating a bridge between the cryptocurrency and traditional finance. This integration allows clients to earn staking rewards while maintaining full ownership of their ADA holdings, potentially encouraging broader adoption among mainstream investors.

Technical analysis reveals that Cardano ADA/USD is trading within an ascending channel pattern, signaling a broader bullish trend despite recent pullbacks. The cryptocurrency is currently testing a crucial support level, with the 50-2W exponential moving average (EMA) at $0.618 serving as a historical strong support zone. ADA’s immediate resistance lies at the upper range of its current channel at approximately $0.78, which aligns with the 200-day exponential moving average (200-DEMA). A decisive break above this level could trigger a move toward the $0.84-$0.88 range, where a daily fair value gap (FVG) exists – representing a potential 20% return from current price levels. The Relative Strength Index (RSI) currently hovers around 48-51, suggesting neutral momentum but leaving room for upward movement before reaching overbought conditions.

Looking ahead, Cardano’s price action will likely be influenced by broader crypto market trends, particularly Bitcoin’s dominance and evolving macroeconomic conditions. While technical indicators and social sentiment suggest potential for upward movement, ADA must first overcome significant resistance at $0.78 to confirm a stronger bullish trend. If support holds and buyers continue accumulating, the path toward $0.88 appears technically feasible in the short term. However, failure to maintain the ascending channel support could lead to a deeper correction, leading ADA price to test lower support levels at the 50-week EMA ($0.668) or the 100-week EMA ($0.59).