Cryptocurrencies had a great week as the market cap soared to $1.25 trillion. Ripple prevailed when a judge ruled that XRP was not a financial security. Bitcoin and other altcoins also bounced back this week.
This strong performance was due to the weak US inflation data and the SEC vs Ripple case outcome. Ripple price surged by more than 70% and the market cap of all cryptocurrencies jumped to over $1.25 trillion. Here is the weekend prediction for key coins like Cardano, Solana, and ApeCoin.
Cardano price prediction
Cardano (ADA) price made a strong bullish breakout after the SEC vs Ripple news. It jumped to a high of $0.375, the highest level since June 4th. This rally happened because the SEC had singled out Cardano as a financial security, giving investors confidence that Cardano and its developers would prevail if the SEC brought charges.
Turning to the daily chart, we see that the Cardano price was in a consolidation phase before the Ripple news. It was consolidating at an important support level of $0.30, which was the lowest point on March 12th. Now, Cardano has moved slightly above the 50-day moving average