Amid recent positive news, cryptocurrencies XRP and Cardano are experiencing price pressure with their values dropping in the last 24 hours. The situation is concerning due to the lack of institutional support.
Current Price Changes of XRP and Cardano
XRP has dropped over 4% in the past 24 hours, hovering around $0.509, while Cardano (ADA) fell over 2%, currently trading at $0.555. This drop comes amidst increased trading activity, indicating continued trader interest, though the overall sentiment remains cautious.
Exclusion from Grayscale’s List and Its Impact
The recent update to Grayscale Investments’ list of top 20 crypto assets has left out XRP and ADA, despite their positive news such as Ripple's legal victories against the SEC. This has raised eyebrows in the crypto community, which is beginning to question the criteria used by Grayscale for asset selection in its portfolio.
Future of XRP and Cardano: Potential and Expectations
Despite the recent price pressure, XRP is gaining momentum with the launch of ETFs and expansion into institutional markets. Cardano is also showing growth, particularly in DeFi. However, with both cryptocurrencies lacking substantial institutional backing, uncertainty remains regarding their long-term prospects.
The situation surrounding XRP and Cardano remains complex. Despite positive developments and high potential, both cryptocurrencies face challenges in attracting institutional support, which may impact their long-term outlook.
