Daily Altcoin Analysis August 2: XRP, ADA, VET, TRX

Key Insights:

• VeChain was the only one of the group to close in the green today.
• Tron remained consolidated at the same level it’s been at this entire week.
• Bitcoin and Ethereum did not move much either, trading at $23k and $1.6k.

The crypto market’s fluctuation continued to paint red for many altcoins in the crypto market, but a lot of assets, such as Tron, observed minimal to no change.

This wasn’t the case with just altcoins as the king coin too could be seen trading at the same price it was at yesterday, around $23k.

Ripple (XRP)

Ripple did note a slight drawdown of 3.5%, although not today, over the last 48 hours, where the price slipped to $0.37.

This did not impact the asset’s bullishness as the Awesome Oscillator continued posting green candles today, making the recovery of June’s 25 crash a possibility.

Cardano (ADA)

The third-generation cryptocurrency was one of the few cryptocurrencies to actually fall in the last 24 hours, slipping by 3.27%.

Fortunately, ADA is still sustaining the candlestick above the basis of the Bollinger Bands, which will enable any price swing to play in favor of the bears.

VeChain (VET)

VeChain was the only cryptocurrency of the lot to close in green and not just today for the eighth consecutive day.

With VET continuing its uptrend, it seems like its month and a half long rally of almost 30% will continue.

Tron (TRX)

Despite rising by more than 23.5%, Tron is still stuck in the same consolidation it has been in for about a week now.

However, as visible on the MACD’s bullish crossover, it is still maintaining its bullishness, which will be crucial in its recovery from the June crash.