Amid the cryptocurrency market’s recovery, ADA, the native token of the Cardano blockchain, has significantly rebounded and is poised for substantial upside momentum. The potential reasoning behind this bullish outlook includes its record 58% intraday price reversal and growing interest from whales, long-term holders, and investors.

ADA Technical Analysis and Upcoming Level 

According to expert technical analysis, ADA has experienced a significant price reversal, returning to its bullish range and trading above the crucial support level of $0.71. Additionally, it has successfully retested its 200 Exponential Moving Average (EMA) on the daily timeframe, making the altcoin more favorable for a potential bull run.

Based on recent price action and historical momentum, ADA may face mild resistance near $0.85. If it successfully breaches this level and closes a daily candle above $0.86, there is a strong possibility it could soar by 45% and reclaim its recent high of $1.25.

Additionally, ADA has formed a bullish hammer candlestick pattern that supports this positive outlook and signals a potential upcoming rally.

$82 Million Worth ADA Outflow 

Amid this bullish outlook, whales and long-term holders have continued their accumulation, which began in the past 24 hours when ADA experienced a sharp decline.

A major on-chain analytics firm, Coinglass, revealed that exchanges have witnessed an outflow of $82 million worth of XRP tokens in the past 48 hours. This substantial outflow amid the ongoing price recovery suggests potential accumulation, which could drive buying pressure and further upside momentum.

Traders’ Strong Bet on Long Position 

In addition to long-term holders, traders are also found to be over-leveraged on the long side, as revealed by Coinglass data.

At press time, the $0.73 level is the over-leveraged zone, where traders hold $35 million worth of long positions, acting as strong support for ADA. Conversely, $0.83 is another over-leveraged level on the short side, where short sellers hold only $3.32 million worth of short positions, ten times lower than the bulls’ long holdings.

When combining all these on-chain metrics with technical analysis, it appears that bulls are back in the market and are supporting the altcoin for significant upside momentum.

Ripple (XRP) is once again at the center of crypto discussions, with Peter Brandt’s striking $500 billion market cap forecast driving renewed interest – something we’ll explore in detail below. 

Meanwhile, new projects like PlutoChain ($PLUTO) could be ready to make a mark in the industry, by tackling Bitcoin’s biggest challenge—scalability. Its Layer-2 network not only reduces congestion but also could slash fees and deliver near-instant transactions.

Let’s get into the details.

Ripple Price Prediction: Can XRP Surge with Peter Brandt’s Bold $500 Billion Prediction

XRP is trading at approximately $2.20 after a major pull back across the crypto sector following a significant Bitcoin slide. The Relative Strength Index (RSI) is at 29, suggesting that the token is in oversold territory.

Veteran trader Peter Brandt recently pointed to a bullish flag pattern in XRP’s price chart, predicting that if the pattern completes within six weeks, XRP’s market capitalization could climb to $500 billion.

This bold projection would mark a massive leap from its current valuation of approximately $135.3 billion, potentially pushing the token’s price to around $8.70.

How PlutoChain ($PLUTO) Could Shape Bitcoin’s Future with Speed and a Developer-Friendly Approach

PlutoChain ($PLUTO) might be on track to challenge how we think about Bitcoin by tackling some of its most significant challenges—slow transaction speeds, high fees, and network congestion.

By implementing a hybrid Layer-2 solution, PlutoChain may introduce a parallel network that could work alongside Bitcoin’s blockchain, enhancing scalability and reducing costs while improving transaction throughput.

Bitcoin’s 10-minute block time has long been a limiting factor, especially when compared to the faster speeds of networks like Solana or Ethereum. PlutoChain offers a much faster 2-second block time on its Layer-2 chain, which opens up new possibilities for Bitcoin, such as smart contracts, DeFi, and NFTs.

The platform is also Ethereum Virtual Machine (EVM)-compatible, making it easier for developers to port over their Ethereum projects to PlutoChain.

What’s more, PlutoChain’s testnet is already processing over 43,000 transactions daily without significant issues, demonstrating that it can handle substantial real-world traffic.

On the security front, the network undergoes regular audits by trusted firms like SolidProof, QuillAudits, and Assure DeFi, along with ongoing stress testing to ensure it remains secure and reliable.

A key strength of PlutoChain is its focus on developers. This developer-friendly environment could unlock Bitcoin’s true potential, enabling the creation of solutions that were once deemed too complicated or impossible.

The Bottom Line

While XRP garners attention with its potential, PlutoChain ($PLUTO) could stand out by offering practical solutions to Bitcoin’s biggest hurdles.

Its Layer-2 network could revolutionize scalability, enabling faster, cheaper transactions while reducing congestion. PlutoChain’s EVM compatibility could also bridge Bitcoin to the booming DeFi and NFT sectors.

This article does not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.

This article is sponsored content. All information is provided by the sponsor and Brave New Coin (BNC) does not endorse or assume responsibility for the content presented, which is not part of BNC’s editorial. Investing in crypto assets involves significant risk, including the potential loss of principal, and readers are strongly encouraged to conduct their own due diligence before engaging with any company or product mentioned. Brave New Coin disclaims any liability for any damages or losses arising from reliance on the content provided in this article.

Solana (SOL) is currently trading at $241.55, recording a 27.06% growth over the past 30 days. As bullish momentum grows, investors question whether SOL can keep its current surge or if a market correction is approaching.

As Solana tries to sustain its price, PlutoChain ($PLUTO) could gain attention because it potentially improving Bitcoin’s features. It offers a hybrid Layer-2 blockchain that might make Bitcoin faster, more scalable, and lower transaction costs.

Let’s see the details!

Solana (SOL) Stays Solid Drawing in High Interest

Solana (SOL) is looking pretty solid, trading at $241.55 with a 27.06% jump over the past 30 days. Momentum is strong, but the question is whether it can keep climbing or if a drop is waiting around the corner.

Lately, SOL has been topping trading charts, drawing great interest. Huge transactions and rising total value locked (TVL) show growing confidence in its network – plus the launch of high-profile tokens has only added to the demand, placing Solana’s position as one of the top-performing blockchains right now.

At the same time, Charts show key levels that could slow its rise. Solana recently broke through crucial support, which is a good sign, but holding above these levels is a must. If selling pressure picks up, it could drop to lower support levels.

For SOL to stay strong, it needs continued demand, favorable market conditions, and continued dominance in DeFi, meme coins, and NFTs. The next few weeks will be important – either Solana keeps pushing higher or enters a phase of consolidation.

PlutoChain’s Hybrid Layer-2 Could Boost Bitcoin’s Potential With Smart Contract Integration

PlutoChain ($PLUTO) could expand Bitcoin with its hybrid Layer-2 solution. This project might be a connection to Bitcoin’s security and Ethereum’s flexibility, possibly opening the door for decentralized apps (dApps), smart contracts, and DeFi.

With an average 2-second block time – much faster than Bitcoin’s 10-minute block time, PlutoChain could make Bitcoin more competitive with speed-focused blockchains like Solana and Cardano.

One of its biggest advantages is Ethereum Virtual Machine (EVM) compatibility which could allow developers to bring Ethereum-based apps to Bitcoin. This could turn Bitcoin from just a store of value into a hub for AI, NFTs, and the Metaverse.

PlutoChain also puts choice in the hands of its community, letting users help shape the network’s future. It’s already processing over 43,200 testnet transactions daily and has passed security audits from SolidProof, QuillAudits, and Assure DeFi, proving its reliability.

The Bitcoin DeFi sector is still small compared to Ethereum, but PlutoChain could change that by offering a secure and cheaper alternative. By giving Bitcoin the tools to compete with Solana and Ethereum—without depending on them—PlutoChain is trying to create a thriving, self-sustaining network.

Final Take

Solana (SOL) is looking pretty solid, trading at $242.55 with a 27.06% jump over the past 30 days. For SOL to stay strong, it needs continued demand, favorable market conditions, and continued dominance in DeFi, meme coins, and NFTs. The next few weeks will be crucial.

The focus may go to PlutoChain, a hybrid Layer-2 solution that could unlock Bitcoin’s potential. By supporting smart contracts, dApps, and DeFi, PlutoChain is trying to combine Bitcoin’s security with Ethereum’s flexibility.

————–

The information in this article does not represent financial or investment advice. Always research carefully before participating in the crypto market. Risks are inherent in forward-looking statements, which may not be revised.

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

The market has started with the dump of most of the coins, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has fallen by 4.21% over the last 24 hours.

On the daily chart, one should pay attention the daily bar’s closure. 

Related

If it happens around current prices, sideways trading in the area of $92,000-$96,000 is the more likely scenario by the end of the week.

Bitcoin is trading at $95,234 at press time.

ETH/USD

Ethereum (ETH) is one of the biggest losers today, falling by 17.32%.

From the technical point of view, the rate of ETH has made a false breakout of the two levels. As most of the ATR has been passed, sideways trading around the current prices is the more likely scenario over the next few days.

Ethereum is trading at $2,630 at press time.

XRP/USD

XRP is not an exception to the rule, going down by 17.84%.

On the daily chart, one should focus on the bar’s closure in terms of the $1.9669 level. If it happens far from it, one can witness a local bounce back to the $2.50 area.

XRP is trading at $2.4213 at press time.

Not long ago, Elon Musk announced that he will take Dogecoin (DOGE) to the moon. Fast forward to two weeks later, and the price of DOGE has lost 40% in a less than three-day span.

The price collapse came amid a broader $2.2 billion liquidation event, largely driven by ongoing tariff tensions. The sell-off dragged down multiple assets, but for many, the focus landed on Dogecoin. Investors wanted answers. Some turned to Musk. Others looked to Billy Markus – better known as Shibetoshi Nakamoto – one of DOGE’s original creators, alongside Jackson Palmer.

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Markus had no interest in explaining. His response was short and direct: market dynamics are not magic, and people should know that by now.

That was it. No further breakdown, no attempt to calm investors. Just a blunt dismissal.

Not surprising. Markus, despite being a key figure in Dogecoin’s creation, has distanced himself from the project for years. He often reminds people that he has no control over the coin’s price, direction or adoption. Yet, when things go south, questions still find their way to him.

Meanwhile, DOGE showed some resilience. After hitting an intraday low of $0.20, it bounced back 26%. A small recovery, but not enough to erase concerns about the overall market trend.

Related

For now, the meme coin has stabilized. The broader sentiment? Still shaky. But if history is any indication, Dogecoin thrives on unpredictability.

In the end, it seems that Musk and Markus are content to let the market do its thing — no explanations needed. Whether or not Dogecoin’s future remains bright is still up in the air.

The broader digital currency ecosystem recorded its worst single-day bloodbath this year, with assets like Cardano (ADA) at the forefront. At the time of writing, the ADA price changed hands for $0.7012, down by 20.53% in the past 24 hours. The coin dropped to $0.5648 in earlier trading, its lowest level in nearly 90 days.

Cardano volume took different turn

Despite the selloff, one unique Cardano metric, the transaction volume, recorded an impressive rally. 

Per data from CoinMarketCap, the Cardano volume is up 428.86% to $3.77 billion. This boost in trading volume is not commensurate with the price outlook, thus implying traders were in flight mode over the weekend.

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Market data shows that more than $36 million has been lost by ADA traders in the past 24 hours via liquidations. Long traders suffered the most, with over $31 million taken out unduly. With the crypto market drawdown triggered by the tariff war in North America, the effect appears comprehensive across all markets.

At the moment, a high level of volatility has been introduced into the Cardano trading ecosystem. After this multi-month low price, the coin has inked some rebound, but generally, the coin is not out of the woods yet.

Catalyst to watch and Bitcoin influence

Amid this unusual price slump, Cardano traders will likely focus on new anchors as the price recovers. These new anchors might include fundamental ecosystem updates and how they may shape the ADA ecosystem.

Related

With the Plomin hard fork going live in the past week, Cardano proponents are now looking forward to how this upgrade can impact ADA accumulation and price outlook. In addition, ADA’s whale activity is in the spotlight, as a large buying trend can trigger positive sentiment.

Meanwhile, the ADA-BTC correlation may yield a positive boost in the mid-to-long term. Bitcoin has stabilized its latest sell-off, hinting that Cardano may soon follow suit.

The crypto market took a hit as Trump’s tariff war and Ripple’s massive 400 million XRP unlock, worth about $1.136 billion, sent XRP’s price tumbling. In just 24 hours, XRP dropped by 24.6%, extending its overall decline to over 15% amid the broader market crash.

A top analyst now warns that XRP could fall further to $1.90.

XRP’s February Slump – Will History Repeat Itself?

XRP’s sharp drop raises concerns about its typical February performance. According to Cryptorank data, XRP has averaged a -3.00% return in February, finishing in the green only four times since 2014.

Its best performance came in 2022 with a 26.3% gain, but overall, February has been a tough month for the token. This trend suggests more volatility ahead.

Can XRP Recover? Key Factors to Watch

Despite the bearish trend, some analysts remain hopeful. XRP’s recovery could be supported by key price levels, speculation about an XRP ETF approval in 2025, the long-awaited resolution of the Ripple vs. SEC case, and a possible IPO launch.

Crypto analyst EGRAG CRYPTO warns that XRP could drop further to $2.30, with $1.90 as a crucial support level. He points to the 21-day Exponential Moving Average (EMA) as an important indicator in the current downturn. While the outlook is bearish, he also suggests that this dip could be a buying opportunity.

Analysts Reveal What’s Next

Not all analysts are optimistic. Crypto expert Ali Martinez believes XRP could fall further, citing the TD Sequential indicator, which signaled a sell-off over a week ago. His analysis suggests that more losses may be ahead.

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•   Pro-XRP Lawyer Deaton Says ‘War Against Crypto Not Dead’, Here’s Why
•   ,

XRP’s price movement will depend on how it holds at key support levels. If it stays above $2.30, a rebound is possible. However, if it falls below $1.90, it could trigger a deeper sell-off. Despite its 15% plunge to $2.43, XRP’s Relative Strength Index (RSI) is at 34, hinting at possible bullish momentum.

Beyond technical factors, broader market conditions are adding pressure. XRP Futures Open Interest has dropped by 35%, showing that traders remain bearish. Meanwhile, global markets are on edge as Trump delays crypto regulations and pushes tariff policies, increasing uncertainty.

What’s Next for XRP?

Experts are divided on where XRP is headed next. Some predict a rally back to $4, while others see a longer downturn as the Ripple vs. SEC case remains unresolved. Despite the sell-off, many still believe XRP has strong long-term growth potential.

As history suggests, February has rarely been kind to XRP – will this year be any different?

Dogecoin price could be appreciated by over 54,000% if the meme coin was able to reach the market cap of Gold, the largest financial asset by valuation.

Dogecoin’s Historical Market Cap Struggles

As the leading meme coin, Dogecoin has come a long way from its humble beginnings in late 2013. By January 2014, Dogecoin’s market cap stood at a paltry $5.58 million, according to data from CoinMarketCap. This figure spiked to $90.5 million in February 2014 but stabilized at around $36 million for most of that year.

Interestingly, from this range, Dogecoin’s valuation slumped again from 2015 to 2016, hitting the $21 million level during this period. However, a turnaround occurred in the 2017/2018 bull run as crypto adoption became more mainstream. Dogecoin leveraged this trend to hit a market cap of $388 million in May 2017 before collapsing again.

Meanwhile, the meme coin’s major breakthrough occurred in the next bull run in 2021, as it caught the attention of Tesla Chief and billionaire Elon Musk. By January 2021, Dogecoin’s market cap had crossed $1 billion for the first time in its history. It continued to soar in Q1 2021, reaching a top of $8.94 billion before retracing.

A subsequent surge from April 2021 saw Dogecoin’s market cap increase to $47.3 billion before pulling back and surging at a more substantial rate to $73.8 billion in May 2021. This was Dogecoin’s all-time high market cap.

Dogecoin Price if It is Able to Reach Gold Market Cap

Interestingly, as the ongoing bull market demonstrates Dogecoin’s immense potential, discussions around massive price spikes have led to projections that could lead to greater market valuations for the meme coin.

For context, Dogecoin witnessed an impressive run in November 2024 following the U.S. elections. As a result, its market cap hit $61 billion, higher than 331 firms within the S&P 500. This prompted speculations of higher grounds as the meme coin sustained the run.

At $61 billion, the total market cap of Dogecoin is now higher than 331 companies in the S&P 500.$DOGE $SPX

— Charlie Bilello (@charliebilello) November 13, 2024

While largely regarded as a pipe dream, the idea of Dogecoin reaching Gold’s market cap emerged. Such a rally would be astronomical but remains largely unfeasible.

However, with Gold’s current market cap of $18.8 trillion, if Dogecoin attained this level, its price would surge to $127.56, considering the circulating supply of 147.8 billion tokens. Currently trading for $0.2352, Dogecoin would need to rally 54,109% to hit $127.56. Nonetheless, ambitious projections of similar proportions have recently taken root.

For instance, last December, market analyst Ali Martinez suggested that a Dogecoin price rally to $23 was possible. In addition, Trader Tardigrade, another market commentator, predicted a possible price surge to $30. For context, a $23 price would lead to a Dogecoin market cap of $3.4 trillion, and $30 translates to a valuation of $4.4 trillion.

• Cardano and Solana prices continue to trade in red on Monday after falling over 15% the previous week.
• Coinglass data shows that ADA and SOL liquidated a total of $120 million in the last 24 hours.
• Technical outlook and on-chain metrics for both altcoins suggest a continuing bearish trend.

Cardano (ADA) and Solana (SOL) prices continue to trade in red on Monday after falling over 15% the previous week. On Saturday, the implementation of the United States (US) President Donald Trump’s announced tariffs on major trading partners, including China, Canada, and Mexico, exerted some selling pressure on the overall crypto market. 

The recent downturn at the start of this week has liquidated over $120 million from ADA and SOL in the last 24 hours. Both altcoins’ technical outlook and on-chain metrics suggest a continuing bearish trend.

Cardano and Solana traders face massive wipeout over $120 million

The crypto market began a correction on Friday as Bitcoin dropped below a key support level, continuing its decline through the weekend. By Sunday, altcoins like Cardano and Solana had followed BTC’s lead, falling nearly 16% last week and extending their correction into the new week. 

ADA and SOL correction on Monday triggered a wave of liquidations, resulting in over $120 million in total liquidations and more than $84 million, specifically in SOL, according to data from CoinGlass. Huge liquidations like this could spark Fear, Uncertainty and Doubt (FUD) among these altcoin investors and could cause a rise in selling pressure, leading to further decline in its prices.

SOL Liquidation chart. Source: Coinglass

ADA Liquidation chart. Source: Coinglass

On-chain metrics show bearish signs

According to Coinglass’s OI-Weighted Funding Rate data, the number of traders betting that the prices of altcoins Cardano and Solana will slide further is higher than that anticipating their price to increase. 

This index is based on the yields of futures contracts, which are weighted by their open interest rates. Generally, a positive rate (longs pay shorts) indicates bullish sentiment, while negative numbers (shorts pay longs) indicate bearishness.

In the case of Cardano and Solana, this metric stands at -0.0058% and -0.0017%, respectively, reflecting a negative rate and indicating that shorts are paying longs. This scenario often signifies bearish sentiment in the market, suggesting potential downward pressure on Cardano and Solana prices.

ADA funding rate chart. Source: Coinglass

SOL funding rate chart. Source: Coinglass

Cardano Price Forecast: Bears take the lead

Cardano’s price faced rejection around its weekly resistance level of $1.18 on January 17, declining nearly 19% in the next two weeks. As of Monday, it continues to decline by 21.63%, around $0.63 at the time of writing.

If ADA continues correcting, it could extend the decline to test its next weekly support at $0.44.

The Relative Strength Index (RSI) indicator on the weekly chart reads 45, below its neutral level of 50 and points downwards, indicating bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, suggesting a downward trend.

ADA/USDT weekly chart

Solana Price Forecast: Bears aim for $120 mark

Solana’s price declined 15.38% and closed below the 50% price retracement level at $192.20 (drawn from the November 4 low of $155.11 to the November 22 all-time high of $264.39) last week. At the time of writing on Monday, it continues to trade down by 6.34%, around $190.61.

If SOL continues its decline, it could extend to test the January 13 low of $168.88. A successful close below this level would extend an additional decline to test its next weekly support at $120.91.

The RSI indicator on the weekly chart reads 49, below its neutral level of 50 and points downwards, indicating bearish momentum. The MACD also shows a bearish crossover, suggesting a downward trend.

SOL/USDT weekly chart

Yesterday, Ripple unlocked at least 400 million XRP, valued at around $1.136 billion. In the last 24 hours alone, the price of XRP has dropped by over 24.6%.

What Actually Happened in the XRP Market?

As part of Ripple’s routine monthly token release from escrow, yesterday, at least 400 million XRP, worth nearly $1.136 billion, were unlocked. The development was initially brought to attention by Whale Alert. 

The XRP market’s daily chart shows that it took no time for investors to respond to the development. In the last 24 hours alone, the XRP market has declined by at least 24.6%. 

Does All the Unlocked XRP Enter the Market?

Highlighting the unique unlock process of Ripple, reports state that not all the unlocked XRP tokens entered the market yesterday. Experts familiar with Ripple’s unlock process explain that Ripple generally uses just 20 to 25% of the tokens released during an unlock session. 

What Happens to the Remaining XRP?

Experts add that Ripple locks back the remaining tokens in the custody account. In simple terms, this is how the XRP unlock process works: Ripple unlocks a set amount of XRP from escrow, sells around 20% to 25% of the unlocked tokens to institutions, exchanges, or for strategic partnerships, and locks the rest back into escrow, extending the release schedule to future months.

Why Does Ripple Do This?

It is to manage supply, promate stability and fund operations that Ripple unlocks a specific amount of tokens every month. Additionally, to limit the impact of the unlock process, Ripple sells just a small portion of the unlocked XRP and locks back the rest. 

XRP Market Overview

At the start of this year, the XRP market stood at around $2.0847. Between January 10 and 17, the market witnessed sharp growth of 45.01%. On January 16, the market touched a yearly peak of $3.3994. On January 19, the market sharply plummeted from $3.2721 to $2.9589.

• Also Read :
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•   ,

Between January 20 and 31, the market stayed within the range. On February 1, the market sharply broke below the range. Since February 1, the market has experienced a decline of 26.15%. At one point today, the market fell as low as $1.7752. Currently, the market stands at $2.2409. 

Ripple’s regular XRP unlock process aims to balance supply while supporting operations. Although large token releases can trigger price reactions, Ripple’s controlled approach – selling only a portion and re-locking the rest – helps manage long-term market stability. 

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