• This week, we take a closer look at Ripple (XRP), Cardano (ADA), Binance Coin (BNB), Solana (SOL), and Polygon (MATIC).
• Ripple has managed to close in green with a 2.6% increase in price, making it the best performer on our list today.
• Cardano is the exact opposite of XRP; the price has made a lower low and closed the week with a 16% loss.
Crypto Price Analysis Jun-9: XRP, ADA, BNB, SOL, and MATIC
Ripple has surprised the market this week by closing with a 2.6% increase in price, making it the best performer on our list today. Volatility also increased this week and buyers attempted to break higher but were pushed back by bears. The indicators on the daily timeframe are bullish and another push higher could turn the 53 cents level into support.
In stark contrast to Ripple’s performance, Cardano has suffered a 16% loss this week due to its designation as security by US SEC in lawsuits against Coinbase and Binance. Sentiment about Cardano is quite bearish at this time and buyers have to do their best to stop the assault from bears and reverse the downtrend at the key support of 30 cents.
Binance Coin (BNB)
Binance Coin was able to hold up relatively well during these turbulent times for altcoins closing with only an 8% decrease in price over 7 days. BNB currently trades around $327 may find a strong support here which will likely prevent further losses unless Bitcoin resumes its downward trend driven by FUD news or some other factor that affects all cryptocurrencies negatively.
Solana (SOL) & Polygon (MATIC)
Solana closed last week with an 11% decrease while Polygon saw its price fall by 7%. SOL is now trading between $47-$48 range whereas MATIC can be found around $1.90-$1.92 range – both coins may find strong support here if they manage to stay above these levels then there is potential for them to rebound back up again soon as investors start looking for opportunities during bear markets such as these ones caused by Bitcoin’s recent volatility..
This past week saw mixed results amongst major altcoins: while some did better than others overall most ended up in red except for Ripple who was able to close with an increase in value thanks mostly due its resilience despite market conditions being unfavorable for altcoins generally speaking right now