According to crypto analyst Gamza Khanzadaev, Ripple (XRP) is preparing for major price action. Analyst Dan Gambardella says Cardano (ADA) and XRP are trying to pump very badly. Another analyst notes that Bitcoin and Ethereum are the only digital assets to be accumulated in the long run. A popular analyst also states that it is time to start stacking Chainlink (LINK).
“XRP prepares for big price action”
XRP has come to the fore in CoinMarketCap’s ranking of cryptocurrencies by market cap. Despite this, the late price action went unnoticed by many. Not only did he show strength, but he prepared himself for a continued northward movement.
In the second week of the crypto market recovering from the FTX crash, the XRP price is up 7.5%. But more importantly, it managed to break out of the $0.38 region. If the price holds at this level, XRP’s path to $0.46-0.5 is clear. This means a 20% increase. It also means a return to pre-FTX crash levels. The fact that the XRP price recovery over the past two weeks is already 48% of this decline is also a positive sign.
“ADA and XRP very much want to rise”
Dan Gambardella, a crypto analyst, says that Cardano (ADA) and Ripple (XRP) are looking to rise a lot.
As the chart below shows, XRP’s bullish outlook started on November 14. However, the bull run was short-lived and ended in two days. XRP prices fell from $0.39 to $0.36 in one day on November 16. The price of XRP has been sideways for four days since then.
XRP seems to be following a bearish wedge. Despite recording new high lows, the new gap between new high lows is narrowing. The 200-day MA is perpendicular to the horizontal axis, indicating that prices will move in a sideways direction, while the 50-day MA is sloping upwards, predicting a bull run. Also, the market is likely to correct the oversold price as XRP touches the lower Bollinger band. If the bulls dominate, XRP will aim to hit Resistance 1 positioned between $0.43-0.45. On the contrary, if the bears dominate, XRP will drop to the Support Level between $0.32 – $0.33.
Cardano is up 0.22% in the last 24 hours. It is currently trading at $0.31. Notably, from the chart below, Cardano has suffered a steep decline in quick succession. ADA fell from $0.33 to $0.29. That said, ADA’s price seems to be gaining some momentum as it fluctuates in a rising wedge. Interestingly, the 200-day MA is trending downwards signaling bearish, while the 50-day MA is rising, signaling a bullish trend.
ADA touches the lower Bollinger band indicating that the market may correct ADA price. If the bulls press further, ADA will target the Resistance Level around $0.335. However, if the bear dominates the market, ADA will descend to the Support Level based at $0.29.
“It is possible for investors to look forward with Bitcoin and Ethereum”
The free crypto content space account Mac says that Bitcoin (BTC) and Ether (ETH) are the only digital assets to be accumulated in the long run. Also, according to Mac, it’s a Ponzi where you have to trade everything else in short-term cycles. The platform shared it as a ‘advice’ for ideas on long-term investments in crypto.
Additionally, Mac says many investors are hoarding FTT for the long-term. Therefore, he notes that they were severely affected by the collapse.
Significantly, both BTC and ETH are on a reasonable trajectory despite FTX’s decline. The hash rate of the Bitcoin network is currently at 258.99M. This is a 74.07% change compared to a year ago. This is BTC’s highest hashrate of all time. According to experts, it is a positive indicator of the long-term safety of bitcoins.
“Time to build a heavy LINK stack”
Popular crypto analyst Micheal van de Poppe says it’s time to start stacking Chainlink (LINK). However, it is unclear what prompted the analyst to say this.
Still, the analyst asked, “Are you curious about Chainlink staking and its impact on LINK?” Retweeted a post that said. It is possible to assume that the analyst is heavily demanding LINK stacking, citing the Chainlink Economics 2.0 protocol upgrade. However, there is no concrete evidence that the analyst is referring to the Economy 2.0 protocol.
By the way cryptocoin.comAs you follow, Chainlink announced that it will launch a beta version of Chainlink Staking (v0.1) on the Ethereum mainnet on December 6.
The upgrade will allow addresses eligible for early access to stake up to 7,000 LINK in the limited v0.1 staking pool.
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