Daily Altcoin Analysis July 26: XRP, ADA, VET, TRX

Key Insights:

• Ripple and Tron did not fall by a lot and maintained their recent recovery.
• Cardano and VeChain declined by more than 11% each this week.
• Bitcoin and Ethereum also dropped to trade at $20k and $1.3k, respectively.

Altcoins led the downtrend today, with the likes of Convex Finance leading other cryptocurrencies.

Even the king coin, Bitcoin, and the altcoin king Ethereum could not prevent from being affected by the fall, depreciating to $20,976 and $1,359 at the time of writing.

Ripple (XRP)

Ripple continues to fight it out with SEC on one front while also trying to fight the bearishness on the other hand. In the latter case, the bears seem to be winning as the altcoin noted a 9.17% decline in the last 24 hours.

While the divergence of the Bollinger Bands indicates incoming volatility, the presence of the candlesticks below the basis of the indicator will lead to a price fall.

Cardano (ADA)

The third-generation cryptocurrency is once again struggling to recover from its June losses that left the coin to lose 27.59% in just four days. At the time of writing, trading at $0.45, ADA is already down by 11.28% in the last 48 hours.

The appearance of the red bars on the Awesome Oscillator is also concerning, as their growth might lead to ADA’s downfall.

VeChain (VET)

Joining Cardano in the downward momentum was VeChain, which lost about 12.31% in this week alone. Trading at 2 cents, VET needs to push from the broader market if it ever intends to break the downtrend.

The MACD could also be seen on the edge of a bearish crossover, and if the same takes place, it will become far more difficult for VET to recover June’s 25.39% losses.

Tron (TRX)

Tron was the only one of the lot not to witness a significant fall in the last 24 hours, as the altcoin only fell by 3.07%. Even though this isn’t a big deal for TRX, it is still pushing the altcoin farther away from the possibility of recovery.

Additionally, the Relative Strength Index (RSI) is also indicating increasing selling pressure which will make the recovery of June’s 34.29% losses far more complex.