Daily Altcoin Analysis July 25: XRP, ADA, VET, TRX

Key Insights:

• Cardano and Tron are yet to make headway when it comes to recovery.
• Ripple and VeChain are also both down by more than 8% this week.
• Bitcoin and Ethereum also declined to trade at $21.9k and $1.5k at press time.

With the exception of a few, such as Uniswap, pretty much every other cryptocurrency resorted to a downtrend.

Among them were Ripple, Cardano, VeChain, and Tron, which bore the brunt of the bears. But they weren’t alone in this, as the king coin and the altcoin king also treaded downward today.

Ripple (XRP)

The altcoin, which is stuck in its own problems concerning the ongoing lawsuit against the Securities and Exchange Commission (SEC), is also being subjected to the broader market bearish cues.

Falling by more than 8.3% in the last five days, XRP trading at $0.34 is on the verge of transitioning into an active downtrend, which would take place once the Parabolic SAR’s white dots move above the candlesticks.

Cardano (ADA)

The third-generation cryptocurrency is not far behind in the bearish race either, as the altcoin has not been successful in recovering from the June crash. It is still 46.1% below the May high, and the recent 16% rise will not be enough to recover it.

The MACD is also inching closer to a bearish crossover which is possible thanks to the consistent red bars appearing on the indicator.

VeChain (VET)

Following in the footsteps of Ripple, VeChain’s native token is also slipping. Down by 8.46% in the last six days, VET lost all chances it had of recovering the May to June dip of 55.15%.

The Relative Strength Index (RSI) is also indicating the loss of buying pressure which is why the indicator is currently below the neutral line.

Tron (TRX)

Tron, having lost 7% in the last seven days, is losing the inflows it had observed from its investors. Although the downtick is exaggerated, the outflows exist nonetheless.

This will make it difficult for the altcoin to reclaim the losses it witnessed when it plunged by 34% in the span of just 11 days in June.