The crypto community expects a drop in Ripple (XRP) price by the end of October 2022. On the other hand, expectations from Cardano were on the bullish side as you have been sideways for a long time.
CMC community expects these levels from Ripple (XRP) price
All altcoins were on the decline as the cryptocurrency market slumped below the $1 trillion mark it reached in mid-September. Most altcoins, including XRP, are struggling to get out of the red zone. Meanwhile, the crypto community predicts more trouble for the seventh-largest cryptocurrency.
Indeed, according to community estimates received via CoinMarketCap’s ‘Price Predictions’ feature, XRP is projected to trade at an average price of $0.4166 by October 31, 2022. XRP price is trading at $0.4305 at the time of writing after rallying roughly 40% last week. According to forecasts, the XRP price will depreciate roughly 5% by the end of October.
Cardano (ADA) price predictions for the end of October
As a result of the Vasil upgrade, Cardano has been through an intense storm of speculation lately. The recently released Vasil upgrade with the Ethereum merge increases the capacity of the Cardano network. The upgrade, which went live on September 22, would have led to a rally in ADA price for many. However, the previous day’s Fed meeting overshadowed the Vasil hard fork.
According to CoinMarketCap’s survey of community predictions, investors expect the ADA price to reach an average of $0.5873 by October 31, 2022. This estimate was the opinion of 10,386 participants. ADA is currently trading at $0.4369. It will need to rise $0.15, or 35%, to reach this target.
Crypto analysts’ perspective on Ripple and Cardano
As a result of the implementation of the long-awaited Vasil update on the Cardano network, crypto traders are studying market activity to predict the near future movements of the ADA price and choose the most suitable moment to buy. According to popular crypto analyst Michaël van de Poppe, the best moment to buy ADA is when its price is in the $0.30 to $0.375 range. Van de Poppe also noted that the ADA chart “seems to be in the accumulation phase.” The analyst predicted that a reversal in Cardano’s current negative trend would lead to an increase in long positions.
Meanwhile, Ripple has recently taken a major step forward in the SEC lawsuit. He filed a lawsuit to dismiss the case, stating that XRP cannot be considered a security. After the demise in the case, the XRP price completed a rally exceeding 40%. cryptocoin.com We have discussed the latest developments in this article.
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