XRP Gains Momentum as Cardano Faces $0.19 Support Test
US Treasury Secretary Scott Bessent told Ripple’s Swell conference on Oct. 27 that stablecoins could become an important source of Treasury funding. He said more than 90% of stablecoins are dollar-pegged and mostly backed by Treasuries, but gave no estimate of potential funding. Ripple also announced partnerships and product developments involving Robinhood, BNY and its RLUSD stablecoin. However, RLUSD adoption does not automatically translate into demand for XRP.
XRP traded near $1.32, down about 13% over 30 days. Its MACD has turned upward, suggesting selling pressure may be easing, but resistance around $1.40 and $1.49 remains. Support is near $1.25; a break could expose $1.05.
Cardano (ADA) traded near $0.20, down about 20% over the month. Its momentum indicators remain weak, and support at $0.19 is only a cent below its price. A break could put $0.17 in view. XRP therefore has a relatively stronger setup, but both tokens remain in monthly downtrends. The stalled CLARITY Act and uncertain timing of any stablecoin-related benefits are important limits on the positive outlook.
Neutral
The overall market impact is neutral, although the news gives XRP a relative advantage over ADA. Bessent’s comments and Ripple’s announcements add visibility and potential long-term legitimacy to stablecoins and digital-asset infrastructure. Similar regulatory endorsements or institutional partnership announcements have often improved sentiment, but they do not necessarily produce immediate, sustained price gains.
For short-term trading, chart levels remain more decisive than the policy headlines. XRP is down about 13% over 30 days, with resistance around $1.40 and support near $1.25. Its MACD crossover hints that selling pressure may be easing, but a daily close above resistance would provide stronger evidence of a reversal. ADA’s trend is weaker: its MACD remains bearish, and its $0.19 support is close to the current price. A break could accelerate selling toward $0.17, while oversold RSI conditions may also prompt a temporary bounce.
Longer term, stablecoin use could deepen demand for Treasury-backed tokens and related payment infrastructure. But RLUSD is distinct from XRP, so its growth does not automatically create XRP buying demand. The stalled CLARITY Act also leaves US market-structure rules uncertain. Traders may therefore treat the announcements as a modest sentiment tailwind rather than a confirmed change in either token’s trend, while watching Bitcoin and broader risk appetite for market-wide direction.