An analyst with the pseudonym Credible Crypto says that leading altcoin rival ADA could see a 74 percent collapse. Analyst Ekta Mourya talks about a bearish scenario for XRP. We have compiled analysts’ predictions for these 2 altcoins for our readers.
ADA price prediction: A major crash is on the table for the altcoin!
‘Kryptokoin.com’As you follow from, the Bitcoin and altcoin market is trying to find a direction. While some analysts expect strong increases, others warn of a collapse. Analyst with the pseudonym Credible Crypto says Cardano “doesn’t look great” right now. According to the analyst, ADA faces the risk of falling further even after correcting over 90% from the ATH level. The analyst states that there are valid reasons for this. Credible Crypto predicts that ADA will likely fall between 57% and 74% to meet its downside targets. In this context, the analyst makes the following statement:
The idea is that we probably peaked here (2024 high of $0.810) and may now be starting to crash. And if that’s the case, we’ll probably move back below the green zone (around $0.33) and then go to those lows that build up here. There is an area of higher demand or support in this cluster between $0.12 and $0.20. And if we go down from where we are now, that will be the downside target.
XRP price prediction: Will the decline continue?
XRP is in a downtrend that started after the altcoin’s peak of $0.7440 on March 11. The altcoin has remained below the $0.50 resistance all week. Thus, the altcoin has fallen 20% in the last seven days. It is possible that the current consolidation phase could result in a further downward correction. In this case, XRP could visit the weekly support level of $0.4188, which coincides with the April 9 low. If it breaks this level, the March 2023 low of $0.3720 is likely to come into play.
However, some technical indicators show signs that the recent downward trend may reverse. If the altcoin price successfully closes above the $0.50 level, the bearish thesis will be invalidated. In this case, the target would be the April 11 local high of $0.6431. But before that, the altcoin price will face resistance at $0.5310 and the psychologically important $0.60 level, which served as support for XRP throughout March.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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