-12%, -8.3%, and -7.5% – Why Cardano, Solana, XRP were hit the hardest today

ambcrypto.com:

The cryptocurrency market as a whole has been on a severe downturn of late. Considering the first half of 2022, this isn’t something new either. The market capitalization of the larger crypto-market has fallen by over 14% in the past week alone. And, recent CPI numbers from the U.S have been nothing short of a kick in the gut.

However, the last 24 hours has been especially harsh on a few of the headline altcoins in the market – namely Cardano, Solana, and XRP. These have fallen by 12%, 8.3%, and 7.5%, respectively. Let’s take a look at their charts.

Source: Tradingview

From the charts, it is quite evident that all these three coins have been falling in tandem since their November highs. Now, while the broader crypto-market fell by an odd 3.5%, one of these three coins managed to tank by double digits. The other two seemed to be just a blink away from breaching similar territory.

This has been one of the most hyped billion dollar plus cryptocurrency in the space. People have been promised a lot, but what of ADA’ price? Well, the downward slide that began mid-November and still is in the works – hasn’t been very helpful either. Even the anticipation of the Vasil hard fork hasn’t been enough to show some positivity on the charts.

Technically speaking – thanks to a small rally in the third week of March – ADA is trading above a long-term trendline resistance flipped into a support. However, one shouldn’t forget that it is still nearly 83% down from its November highs.

Now, it is well known that there may be a number of metrics that can indicate whether a coin is doing well or not. However, only a handful that tell you so the quickest. Most indicators are lagging – Prices of these assets are the quickest indicators of bad news and