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Stablecoins gain Treasury backing at Ripple's Swell; XRP shows momentum, Cardano struggles amid downtrend.

28 Oct 2026, 22:15 WIB
Crypto Daily
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Neutral
Stablecoins gain Treasury backing at Ripple's Swell; XRP shows momentum, Cardano struggles amid downtrend.

At Ripple's Swell conference, Treasury Secretary Scott Bessent highlighted stablecoins as a future funding source for the U.S. Treasury, noting their dollar backing and role in the tech race. Ripple announced new partnerships with Robinhood and BNY, boosting XRP's momentum despite a recent monthly price decline. Meanwhile, Cardano continues to face selling pressure with no clear catalyst, trading near a critical support level. XRP's technical indicators suggest potential for a price rebound, while Cardano remains in a downtrend. The policy environment favors XRP, but stablecoin growth does not directly lift XRP's price yet.

As of Oct 29, 2026 02:32 WIB, XRP trades at Rp24.133 with a 1-day gain of 0.87%, reflecting steady interest despite recent monthly declines. Cardano (ADA) is priced at Rp3.721, showing a modest 0.11% increase over the day but facing heavier selling pressure on Pluang, where 72% of orders are sell orders compared to 44% for XRP. Notably, XRP's market cap stands at Rp1.520,97 trillion, significantly higher than Cardano's Rp135,43 trillion, highlighting XRP's stronger market presence on the platform.

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