Zinger Key Points
- Cardano and XRP took a heavy hit as the broader crypto market saw a sharp sell-off.
- The SEC acknowledged Grayscale’s Cardano ETF filing, while XRP Ledger announced its most significant upgrade since 2013.
- Get access to your new suite of high-powered trading tools, including real-time stock ratings, insider trades, and government trading signals.
The cryptocurrency market's 7% decline has triggered a deeper slide for altcoins, with XRP XRP/USD and Cardano ADA/USD seeing steep double-digit losses.
Despite promising developments—including a potential ADA ETF and a major XRP Ledger upgrade—sentiment remains weak.
What Happened: Cardano co-founder Charles Hoskinson took to X, venting frustration over the market's seemingly irrational sell-off. He noted that macro conditions, liquidity, and narratives all favor a bull run, yet investors are panic selling instead.
Hoskinson likened the market's behavior to an "impatient child throwing a fit right before getting exactly what it wants" and added, “Crypto never ceases to amaze.”
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| XRP XRP/USD | $2.20 | $127.8 billion | -9.8% | -12.2% |
| Cardano ADA/USD | $0.6598 | $23.2 billion | -9.1% | -11% |
Trader Notes: Crypto chart analyst Ali Martinez noted that Cardano is breaking below a key parallel channel and warned of a potential drop to $0.53 if ADA fails to reclaim $0.67.
Another trader, CryptoBusy, pointed out that Cardano is struggling to hold its $0.50 support. If lost, ADA could drop to $0.618, an area with multiple historical touchpoints.
More Crypto Online maintained a bullish long-term outlook for XRP but cautioned that a break below $1.95 could lead to a deeper correction toward $1.20.
Statistics: The SEC has scheduled a closed-door meeting on Feb. 27, sparking speculation about potential XRP ETF approval this week. While the agenda remains undisclosed, the crypto community is watching closely.
CoinShares' latest report shows XRP leading all altcoins with $38.3 million in inflows last week, bringing year-to-date inflows to $200 million—third only to Bitcoin and Ethereum.
Polymarket odds for a Cardano ETF approval in 2025 spiked to 65% (up from 52%), while XRP ETF approval odds slipped to 70% (down from 81%) since Feb. 21.
Community News: Nate Geraci, president of ETF Store, confirmed that the SEC has acknowledged NYSE Arca's filing to list and trade the Grayscale Cardano ETF, officially setting the clock for an approval or rejection decision.
The approval comes on the heels of the SEC acknowledging the XRP, Dogecoin and Hedera ETF applications in recent days.
Austin King, industry expert, flagged XRP Ledger's biggest upgrade since 2013, dubbed Native Programmability. It is to expand XRP's capabilities and unlocks new activity on the network.
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