Market Update: XRP, Cardano, and Zero Knowledge Proof Infrastructure Play

Market observers are closely watching the performance of two major cryptocurrencies: XRP and Cardano (ADA). In a recent market update, it was noted that XRP has been trading within a narrow range between $1.31 and $1.36, with ongoing accumulation by some holders.

The cryptocurrency's on-chain metrics show a portion of the circulating supply is in profit, indicating potential for recovery targets in the $1.40–$2.35 range later this year. Market commentators suggest that if buyers maintain support between $1.30 and $1.32, a move above the 20-EMA at about $1.41 could be associated with further upside.

On the other hand, Cardano has been experiencing falling prices, dipping below $0.23 and remaining under its 100-period simple moving average near $0.2442. Analysts note that if ADA breaches the $0.228 support level, it could test lower levels around $0.22.

Cardano is preparing a Leios upgrade on testnet in June, which aims to increase throughput substantially and may raise transaction throughput toward or above 1,000 transactions per second (TPS). The project has also seen discussion around spot ETF eligibility continue within industry forums.