Cryptocurrencies had a relatively successful March even after the Federal Reserve embraced a more hawkish tone and the crisis in Ukraine escalated. The yield curve also inverted, signaling that a recession could be on the way. Here are some of the top cryptocurrencies to buy in April.
Ripple (XRP)
XRP has had a successful past few weeks as its price jumped from the year-to-date low of $0.5482 to a multi-month high of $0.90. The main catalyst for the coin was the ongoing case between the Securities and Exchange Commission (SEC) and Ripple Labs. The two sides had some minor wins in March and there is uncertainty about the outcome of the case.
Analysts expect that the court will deliver its verdict in April. Regardless of what happens, there is a likelihood that XRP will do well. In most situations, such cases tend to end with a settlement or a punishment. Meanwhile, looking at the chart below, XRP remains steady above the 25-day and 50-day moving averages and is attempting to move above the resistance at $0.9153. If this happens, it will be a signal that bulls have prevailed.
Cardano (ADA)
Cardano has been an embattled cryptocurrency as investors worried about its ecosystem. The main concern was that many developers were not embracing the network to build decentralized applications.
This changed in March as the number of active platforms in its ecosystem rose. The most successful one was MinSwap, a decentralized exchange. According to DeFi Llama, its total value locked (TVL) jumped to over $200 million. The TVL of Cardano’s ecosystem also rose to $338 million.
Therefore, the strength of its ecosystem and the fact that many investors felt that Cardano was undervalued helped it to do well in March. This trend will
