Cryptocurrency markets face volatility across Cardano, XRP, and Ethereum

Major cryptocurrencies are experiencing varied market pressures. Cardano (ADA) has fallen to approximately $0.18, following Grayscale's decision to withdraw its spot ETF application. Despite meeting certain SEC regulatory milestones for futures, the asset has seen a year-to-date decline of over 70%. However, other providers such as Bitwise, VanEck, and 21Shares maintain active applications, with the next SEC decision window expected around October 23.

XRP has dropped below the $1 mark, trading around $0.99. While large wallets have been accumulating tokens, increasing on-chain activity, and institutional demand remains weak—evidenced by a 93% drop in weekly ETF inflows—analysts note growing selling pressure and new bearish positions in the market.

Ethereum (ETH) remains relatively stagnant, trading near $1,878. While developer teams have successfully increased network capacity by raising the gas limit per block from 30 to 45 million, the price has shown minimal movement, remaining well below its previous all-time high.