SEC Challenges Slow Ripple (XRP) and Cardano (ADA), As a Rising Token Targets Exceptional Gains Right Now

SEC Challenges Slow Ripple (XRP) and Cardano (ADA), As a Rising Token Targets Exceptional Gains Right Now

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The cryptocurrency market is playing a game of push-and-pull this week with its total cap nudging down to $1.43 trillion, the move hinting at a slight retreat in an otherwise upward trend that's been building since mid-October. Bitcoin, the bellwether of the crypto domain, witnessed a sell-off from above $38,400, echoing the market's indecision: brushing against highs, but not quite breaking through and steering clear of a steep fall. The real litmus test for BTC is staying above $36,700 as falling below could cement $38,000 as a tough resistance level.

In this cautious environment, Ripple (XRP) and Cardano (ADA) are stuck in a bit of a rut, hovering under $0.65 and $0.4, respectively. They mirror each other in performance, with both recording a 3% dip over the last week. In contrast, Step App (FITFI) is making waves, not just holding its ground, but surging with a 2% weekly and a remarkable 28% monthly increase, outperforming XRP and ADA alike. The project’s success in the move-to-earn arena, backed by a stable economy, attractive returns, a spotless reputation, and even nods from celebrities, raises an intriguing question: is FITFI gearing up to take a leading position in the altcoin race?

Step App (FITFI): Make Money from Rewarding Runs

Imagine a world where your daily run or walk not only boosts your health, but also your virtual wallet. With Step App, your regular jog can net you anywhere from 5$ to 50$ per session! As the first move-to-earn application that empowered fitness with AI-assisted workouts, Step sets a new standard in the FitFi realm. Bolstered by its stable economy and lucrative ROI for users, the project caters to health enthusiasts and crypto fans alike, regardless of their experience with Web3. Injecting a burst of star-studded excitement, Step App basks in the glowing endorsements of legendary athletes like Usain Bolt, propelling its esteemed market reputation to even greater acclaim.

Transform Your Steps into Tangible Rewards with Step App

In Step, managing your earnings is effortless and subscriptions are available to further personalize your in-app experience and amplify rewards. Here, the magic lies in the FITFI and KCAL tokens – central to the app’s vibrant, contest-filled community and its continuous innovation, they hold potential for appreciation over time. Whether it's upgrading your workout gear with KCAL or unlocking exclusive features with FITFI, these tokens are ready to enhance your fitness journey. In the run-up of 2024, Step is gearing up to unveil even more exciting features and airdrops, ensuring that both the community and the value of its tokens keep thriving.

Source: TradingView

Step App (FITFI) is currently in an exhilarating phase of its market adventure, nestled just above a supportive cushion at $0.006239 and is eyeing an exciting leap towards the resistance at $0.0098465. This dynamic positioning teases a vibrant market with potential for significant shifts. The 10-day SMA has perched at $0.007207, whispering of a quietly optimistic trend, while the 100-day SMA at $0.006746 suggests a deeper, more anchored bullish sentiment. The MACD has taken a minor dip to -0.000153, and the RSI at 43.51 indicates a slightly cooling, yet hopeful investor interest. These are thrilling times for Step App (FITFI), and the current technical indicators are the pulse of a story unfolding in this action-packed market landscape. Right now, the impending conclusion of the FITFI public vesting on January 26 is stirring up excitement, as enthusiasts and investors alike are keen to see how it will turbocharge the app's journey, especially with the anticipated rollout of new features and big plans for 2024. 

Step Up Your Game – Join Now!

Ripple (XRP) Technical Analysis Ahead of Confidential SEC Meeting

Ripple (XRP) is in the spotlight this week, hovering between its key support at $0.4988 and resistance at $0.6612. The intrigue around the XRP price movement comes amid some headline-worthy developments, while the U.S. SEC's closed-door meeting today, though not directly linked to Ripple (XRP), has the community on tenterhooks. This event is another link in the chain of the ongoing legal face-off between Ripple Labs and the SEC. With a February 2024 deadline looming for the legal proceedings, the air is thick with anticipation. XRP is facing a massive $770 million fine for transactions labeled non-security on secondary markets, yet the talk of a settlement is dividing expert opinion.

Source: TradingView

Technically, Ripple (XRP) is sitting on the fence. The 10-day SMA at $0.6101 nudging just above the 100-day SMA at $0.5498 suggests a hint of bullishness, but it's subtle. The MACD is barely there at 0.0004 and the RSI is at 47.01, both showing the market holding its breath, not ready to swing in either direction. This technical standoff mirrors the uncertainty rippling from the SEC's corridors, leaving the fate of XRP hanging in the balance.

On the bullish side, a favorable turn in the Ripple (XRP) legal battles could see altcoin breaking through resistance at $0.6612, with sights set on higher targets at $0.7225 and $0.8849. However, a bearish outcome, clouded by legal woes, could see it sliding towards lower supports sitting at $0.3976 and $0.2351. 

Cardano (ADA) Technical Analysis Amidst Hoskinson’s Critiques of the SEC  

Cardano (ADA) is grabbing the market’s attention, but not just for its market moves – Charles Hoskinson, Cardano's founder, is stirring the pot with his frank criticism of the SEC. He's openly challenging the regulator's decision to label ADA as a security while Bitcoin seemingly gets a free pass. Hoskinson isn't just grumbling – he's seriously questioning the fairness in how cryptocurrencies are treated, especially irked by what he sees as a preferential treatment for BTC. His pointed remarks about potential biases in regulatory practices and concerns about the Bitcoin network’s vulnerabilities are sparking lively debates among crypto enthusiasts. 

Source: TradingView

In the trading world, Cardano (ADA) is navigating a narrow path, caught between support at $0.362 and resistance at $0.407 – a scenario that hints at the market in limbo. The SMAs – both the 10-day at $0.381 and the 100-day at $0.378 – reinforce this sense of equilibrium. The MACD at -0.002 and the RSI of 39.82 are giving off neutral to slightly bearish vibes, suggesting traders are playing a waiting game, watching for a decisive move.

For the bullish scenario to unfold, ADA should break past $0.407, which will open the door to higher levels at $0.426 and $0.471. This leap would need a boost from positive market news or a shift in regulatory winds. Conversely, a bearish turn would see altcoin dipping below $0.362, potentially sliding towards lower supports at $0.336 and $0.291. Such a downturn could be spurred by negative updates or increasing pessimism around the SEC's stance.

Closing Thoughts

The crypto market is in a state of flux, with major players like Bitcoin showing mixed signals – climbing, yet cautiously. Step App (FITFI) stands out, thriving with its unique move-to-earn concept, steady tokenomics and celebrity support, contrasting with the stucking performances of Ripple (XRP) and Cardano (ADA). Both altcoins are facing their own SEC-related challenges, with the legal tussles of XRP creating suspense and the ADA founder’s concerns about regulatory fairness. These scenarios paint a picture of the crypto market that's lively, but also cautious, though the rise of Step App (FITFI) adds a dash of excitement to this mix.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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