Cardano (ADA) Update: Overvalued Despite the 90% Crash.

Cardano’s price slumped 2.29% at $0.2533 on Wednesday. 

Cardano (ADA) creator and Ethereum (ETH) co-founder Charles Hoskinson claims that he detected “rumors” concerning the safety and Exchange Commission (SEC) vs Ripple case can public conclude on Dec. 15, with unfortunate consequences for the crypto business. During a “surprise” solicit from me something (AMA) session streamed on Dec. 11, Hoskinson same that he had “rumors that the Ripple case is settled Gregorian calendar month fifteen, which might have ruinous implications for the business a method or the opposite.” 

He prompts that the cryptocurrency house might attempt to create its stand against the regulator’s decision: The report follows Ripple Labs filing its final submission in its current legal battle against the U.S. Securities and Exchange Commission. The legal battle — which started at the tip of 2020 — was initiated by the regulator WHO argued that Ripple offered unregistered securities through its XRP sale

As per knowledge from the crypto group action hunter service Whale Alert, 2 sizable XRP transactions are noticed on the chain throughout the past day. the primary of those transfers concerned a movement of slightly below fifty million coins, a price of around $18.8 million at the time of the group action. Such massive transfer area units are typically a symbol of activity from either one whale or associate degree entity created from multiple massive investors.

On technical fronts, Natural Gas: RSI stood at 59.504, and currently, it is trading above all SMA, so a BUY position can be taken with the following target and stop-loss

Trade signal: BUY AT 0.2533, TAKE PROFIT AT 0.2600, and STOPLOSS AT 0.2500.