Ripple (XRP) Heats Up, Cardano (ADA) Eyes Breakout: Crypto Market Pulse – May 23
Ripple’s legal saga takes another turn as XRP holders brace for impact—will the SEC’s next move spark a rally or a rout?
Meanwhile, Cardano (ADA) bulls are stacking gains, flirting with levels that could trigger a full-blown frenzy. Watch those resistance levels like a hawk.
Elsewhere in crypto-land, Bitcoin plays peek-a-boo with $70K while Ethereum devs keep ’upgrading’ their way to relevance. Because nothing says decentralization like constant hard forks.
And let’s not forget the usual suspects: memecoins pump, traders dump, and Wall Street ’discovers’ blockchain—again. Some things never change, even if the price tags do.
What’s New Around XRP?
Ripple’s cross-border token has recorded relatively modest gains in the past week compared to Bitcoin (BTC), whose price is up 7% for the timeframe, and some altcoins, which have charted even more impressive increases. Currently, XRP is worth around $2.43 (per CoinGecko’s data), representing a mere 1% rise on a seven-day scale.
An important factor that has potentially put the brakes on the asset’s rally is the recent whale activity. As CryptoPotato recently reported, large investors have sold more than 60 million tokens (equaling roughly $145 million) in the span of three days.
This development showcases reduced confidence in the asset. The whales’ actions are closely monitored by smaller players, who may take this as a worrying sign and also decide to cash out.
It is worth mentioning that the big investors had a much different strategy in April, purchasing more than 900 million XRP tokens.
Another element that could have suppressed the price of Ripple’s cryptocurrency is the US SEC’s delayed decision on the launch of two XRP ETFs proposed by CoinShares and Bitwise. While the introduction of the first spot XRP exchange-traded fund in the US is still waiting for approval, there are some futures-based products which are already live. Those curious to explore the topic in detail, can take a look at our article here.
Is ADA Gearing up for a Big Move?
Cardano’s native token has surged by 16% in the last month and is currently trading at around $0.81 (per CoinGecko’s data). Some essential indicators, though, suggest a much more explosive rally could be just around the corner.
CryptoPotato recently revealed that nearly one billion ADA (worth around $800 million) were withdrawn from exchanges since the beginning of 2025, mirroring the negative netflows seen prior to its 2021 all-time high. Back then, ADA soared from $1.80 to over $3. Similar on-chain behavior now suggests that investors have moved from centralized exchanges to self-custody methods, reducing the immediate selling pressure.
On the other hand, ADA’s Relative Strength Index (RSI) indicates that a pullback in the short term is not out of the question. The momentum oscillator, which measures the speed and magnitude of price changes, varies from 0 to 100, and readings above 70 hint that the asset could be overbought and is due for a possible correction. The RSI spiked above that mark a few hours ago, but it is currently situated just south of it.
DOGE’s Next Targets
The biggest meme coin is currently worth roughly $0.25, a 35% monthly rise. Its rally caught the eye of many industry participants, and some expect further gains in the NEAR future.
Ali Martinez claimed that Doge “appears to be breaking out of a bull pennant, which suggests a target of $0.31.” Earlier this month, he outlined three bullish factors that might support an additional upside. Those include the rise in active addresses, transaction volume, and whale activity.
The popular X user KALEO also chipped in. They predicted that DOGE’s price has yet to reach its market top, citing the BTC halving, which has previously been a precursor for massive gains.
