Despite ADA excellent performance at the close of September, some market analysts remain skeptical and advise participants to short ADA. According to them, the bull momentum has not entirely re-established itself in the market.

Market analyst RayTrader has updated his bearish prediction for Cardano on TradingView. He acknowledged ADA’s movement into the range of $0.40 on September 26 but still predicted it would drop as low as $0.16 and $0.15 before a possible trend reversal into a bull market.

The current Cardano price is $0.35, and a slip back to this level would represent a 61% loss for investors today. While ADA has not been at this level since December 2020, it can still happen, says RayTrader. A crash to this range amidst the present uptrend sentiment.

RayTrader updated his bearish outlook to suggest that ADA slip below the $0.40 level created an excellent opportunity to sell the coin short, establishing a near-term target of $0.25. Having seen ADA slip to $0.3718 with Monday’s broader market downturn, RayTrader maintained, “Short sellers can keep their positions open, as there is still much downside potential before the likely local bottom at $0.15.

This bearish analyst insinuated that traders who are satisfied with profits from shorting ADA might want to liquidate some positions along the way but he feels that the much more significant profits will come to those who remain patient as the $0.15 target is reached. As such, he thinks this level will likely mark the bottom and probably lay the foundation for a big bull run.

Bearish Price Action, Bullish On-Chain Growth

RayTraderhe remains significantly bearish on ADA, but other market analysts hold a bullish outlook.

While the price action of Cardano has been somewhat uninteresting, according to crypto expert @CryptoFaibik, its network isn’t. Celebrating seven years since the mainnet was turned on with zero hours of downtime, continuous developments in the chain ensure that its growth is stable and progressive.

ADA weekly development report of last week shows a 4.24% increase in the number of projects building on the blockchain, at 1,376, pointing to high developer activity. The number of native tokens on the network also increased by 9.7% to stand at 10.40 million, with token policies surging 78.8% to hit 168,811.

The token also attracts fresh interest, which can influence ADA’s price, with the highly expected Midnight Protocol testnet. The latest announcement reported that for developers, the Midnight Protocol is now live, meaning the important milestone for the platform has finally been reached.

It also pointed out that the number of smart contracts being deployed keeps increasing, with 88,340 active Plutus scripts-a number considerably higher. Transaction volume reached 96.94 million from 82.7 million the previous month, which signifies increased adoption of the Cardano ecosystem.

Just last week, Cardano’s (ADA) price was $0.42, as speculation spread that the token could rally toward $0.50. But today, this is no longer the case, as ADA’s price is $0.38.

While investors may be hoping for a quick rebound, this analysis suggests that Cardano may continue to face downward pressure.

Cardano Metrics Reveals It’s Not Time to Buy

One indicator supporting this outlook is Cardano’s Market Value to Realized Value (MVRV) Long/Short Difference. This oscillating indicator shows if long-term holders have more unrealized profits than short-term holders or otherwise.

When the MVRV Long/Short Difference is higher, the sentiment is bullish since long-term holders have the upper hand. Conversely, a negative Long/Short Difference indicates that short-term holders have more gains and is a bearish sign.

According to Santiment, Cardano’s MVRV Long/Short Difference is -25.67%, indicating that ADA is yet to exit the bearish phase. With demand dropping, this current condition indicates that Cardano’s price could be set for another fall.

Read more: How To Buy Cardano (ADA) and Everything You Need To Know

Another metric supporting this position is the price Daily Active Addresses (DAA) divergence. The DAA divergence shows whether the price increase is backed by user participation.

When the metric is positive, it means network activity is dominant, and if the price increases, it is a buy signal. However, a negative price-DAA indicates a dearth of user activity. For Cardano, it is the latter, suggesting a sell signal and predicting that ADA’s price might decrease. 

ADA Price Prediction: Another Decline

An evaluation of the daily chart shows that Cardano’s price broke out of the descending triangle on September 22. Due to this, ADA moved up to $0.42 earlier. However, the token is currently swinging downward again.

This suggests that Cardano’s price might soon hit the horizontal support of the descending triangle. But first, that will only happen if the cryptocurrency slips below the support at $0.35. Should that be the case, ADA’s value could tank to $0.31.

Read more: Cardano (ADA) Price Prediction 2024/2025/2030

However, if bulls help ADA stay above $0.35, the price might bounce. This could also be due to increased interest and buying pressure around the token. In that scenario, Cardano’s price could climb to $0.40, and later on, hit $0.46 or as high as $0.50.

The correction continues on the market, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) has fallen by 2.12% over the last 24 hours.

On the hourly chart, the price of ADA has come back to the local support level of $0.3745. If the daily bar closes near it, one can expect a breakout, followed by a move to the $0.37 zone and below.

On the bigger time frame, sellers’ pressure remains relevant. If the breakout of the interim zone of $0.37 happens, traders may witness a more profound drop to the $0.36-$0.3650 area by the end of the week.

From the midterm point of view, bulls could not keep the growth going after the previous bullish candle closure. 

Related

If buyers want to get back in the game, they need to restore the rate above the $0.40 range.

ADA is trading at $0.3750 at press time.

XRP is on an upward trend, undergoing a notable surge of 10.46% in the past 7 days, with its price currently around $0.65. This has sparked the interest of many investors who are eager to learn what the future holds for this altcoin.

We used ChatGPT to look into the altcoin’s future XRP price prediction, and things seem very bullish for XRP. However, RCO Finance (RCOF), an under-the-radar altcoin, is already exhibiting a fantastic performance that could even overshadow Ripple’s growth by a whopping 2000%.

XRP to Hit Above $1.5, According to ChatGPT

Future changes in the price of XRP are controversial, with predictions for the end of September 2024 ranging from $0.62 to $0.69. On the upside, ChatGPT indicates that XRP may rise slightly due to demand and market trends. In the last quarter of 2024, the token could reach $0.91 if market sentiment stays optimistic.

Long-term projections vary widely. ChatGPT indicates XRP will hit $1.50 by year-end. At the same time, more aggressive forecasts predict a price of around $9 by 2030, driven by increased cross-border payment use and Ripple’s partnerships with financial institutions.

However, future regulation may impact its price, with some predicting a year-end value of $0.66 instead.

While whales buy XRP for future value and increase anticipation of XRP ETF, market sentiment seems bullish. The current increase in trading volume and open interest shows that more people are willing to invest in XRP with the expectation of a price increase.

RCO Finance (RCOF) Set to Outpace XRP’s Bull Run

Despite ChatGPT’s future XRP price analysis, RCO Finance (RCOF) is a new contender that could outperform it with a projected bull run of 2000%.

RCOF is a utility-based altcoin and operates as the internal currency in the RCO Finance system. As it plans to become a leader in the DeFi space, the platform uses crypto AI to bridge the gap between DeFi and TradFi.

Among other platforms, RCO Finance can be distinguished by introducing elements of artificial intelligence to the traditional approach to investing. 

This robo-advisor algorithm suggests personalized investment plans based on the client’s investment needs and risk profiles.

The robo advisor is a unique technology built using machine learning and generative AI, similar to ChatGPT.

This technology conducts ongoing analysis of market information and portfolio rebalancing in real-time from sources such as Reuters and delivers users an automatic investor service that greatly increases profitability.

Also, in line with innovation, RCO Finance is one of the platforms to adopt asset tokenization, which allows investors to purchase real-world assets (RWAs), such as real estate, equities, and commodities, using their crypto holdings.

This makes investment more democratic as it opens up opportunities for difficult-to-access products.

Investors can directly trade these tokenized assets without brokers’ help, eliminating costs and ineffective trading firms.

Currently, RCO FInance offers over 12,500 asset classes, and considering the risk-to-reward ratio, using equity in building a portfolio means you have a balanced portfolio that fears risk while getting the maximum returns.

Both security and compliance with regulatory requirements are also among the priorities of RCO Finance. Through a series of audits by SolidProof, a reputable brand, the RCOF altcoin smart contracts are secure on this platform.

Further, RCO Finance has set its course of action to conform to the regulatory requirements and incorporate the EU regulations to secure a safe trading platform. This aim to maintain compliance can lure investors who may shy away from other cryptos, such as XRP, due to legal issues.

Why Whales are Choosing RCO Finance

Investors are flocking to RCO Finance, ready to capitalize on the potential breakout evident in the investments’ growth, currently at over $2.1 million. The presale price is $0.0343. Experts estimate that after ITO, the value would spike to exchange listings, maxing out at 1,600%.

Clients enjoy the platform’s advanced capabilities to leverage up to 1000x on specific types of assets, thus experiencing great portfolio growth with less risk using the integrated robo-advisor. 

Also, users can invest in their assets anytime and anywhere worldwide using RCOF’s debit card, which is not bound by geographic location.

However, several interesting aspects of RCO Finance can be pointed out, one of which is that it will be financed directly by the community. Community members holding RCOF altcoin also enjoy governance rights that allow them to have a say in the development of the ecosystem.

Also, platform users who hold RCOF obtain AI analysis and tools, lower trading costs, and priority customer service, which enhances their experience on the platform.

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

Rollblock is a new GambleFi token, but it sports such huge potential that it could appreciate 5x before Solana hits a coveted $330 price point.

Unexpected price bursts are not uncommon in the crypto space, but their occurrence tends to increase when Bitcoin appreciates significantly. Bitcoin captures a significant portion of the market, so when it hits new highs, any top altcoin follows suit.

Due to BTC’s recent surge, Solana’s price prediction for the future looks better. But that doesn’t mean Solana is the ideal choice for crypto investors. Rollblock, a new GambleFi token, sports more potential and could do a 5x before Solana hits a coveted $330 price point. Read on to find out why.

Bitcoin’s bullish momentum fuels altcoin rally

Bitcoin has been on an upward trend over the last couple of weeks due to the Federal Reserve’s decision to cut rates by 50 basis points. BTC gained close to $10,000 during this period, rising from sub $54,000 to hit a high over $65,000.

Bitcoin didn’t hit a new record high, but current signals suggest a new all-time-high might happen anytime soon. Analysts predict a surge past $100,000 for Bitcoin, a landmark achievement that could trigger an unstoppable market rally, especially for any community backed top altcoin.

Solana’s price prediction points to $330 target

Solana has been amongst the top performers since Bitcoin’s resurgence. Its high-speed and low-cost blockchain attracted developers and users in droves over the last year, and Bitcoin’s boom is working well for SOL.

As a result, the Solana price prediction landscape is increasingly bullish, with many experts eying a $330 target once Bitcoin hits a new all-time-high. However, a rise to $330 would at most, double SOL’s current price of $155. A 2x percentage gain is decent, but a 5x gain is superior, and that’s what Rollblock offers.

Rollblock: Upcoming top altcoin poised to beat SOL and BTC’s percentage rally

Even if Solana goes on an impressive rally and fetches investors decent gains, Rollblock is set to net holders heftier returns.

Rollblock is a new breed of GambleFi protocol that’s already being tipped as the top altcoin to look out for in the coming months. This innovative platform is a pioneer, bridging decentralized and centralized gaming and setting it up to disrupt the $450 billion online gambling industry.

One of Rollblock’s strong points is its quest for transparency and trust. Every transaction carried out on the platform is immutable because it is fused with blockchain technology. This way, fairness, which has always been a bone of contention in online gambling, is duly addressed. It places Rollblock in pole position to capture a significant portion of the online gaming industry.

But what really sets Rollblock apart is its community-driven approach and revenue-sharing model. $RBLK holders receive a share of the casino revenues, creating a symbiotic relationship between the platform and its users. This is essential for its long-term growth and development.

With the crypto market heating up and investors looking for the next big opportunity, Rollblock’s value proposition and potential for exponential growth make it one of the top altcoin candidates. Its potential percentage gains far exceed 5x, overshadowing Solana and Bitcoin’s ROI. The presale token is available for just $0.03, and only investors who take action quickly enough will reap the rewards it offers.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

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This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.

XRP News: XRP price today sparked bearish market sentiments across the crypto landscape, tanking nearly 5% against the backdrop of Ripple’s 1 billion token unlock. On-chain data indicates that the American blockchain payments firm unlocked a whopping 1 billion coins from escrow, raising concerns among market watchers despite the native token being on a price rally. XRP price today tanked nearly 5%, although weekly and monthly charts indicated 6% and 11% gains, respectively.

Ripple Unlocks 1Bln Coins From Escrow Raising Concerns Over XRP Price

According to data revealed by the blockchain tracker Whale Alert, 1 billion XRP was unlocked from Escrow via Ripple on October 1, making buzz-worthy news for the crypto space. As per the data, the American blockchain payments firm executed the massive unlock via three transactions. Notably, the three transactions encompassed 500 million coins, 400 million coins, and 100 million coins. The unlock as a whole boasted a value of $621.76 million.

Intriguingly, these massive unlocks, increasing the asset’s circulating supply, raise investor concerns primarily due to the law of supply and demand. As evident, XRP price illustrated a nearly 5% dip over the past day, adding to concerns in light of the escrow unlock.

Nevertheless, recent market stats underscore a bullish trend for the American blockchain firm-backed crypto. A recent CoinGape Media report illustrated that whale accumulations for Ripple’s native coin are considerably on the rise. Moreover, the blockchain payments firm’s stablecoin-related developments add to the optimism. Recently, 80,000 RLUSD was minted, as per another CoinGape Media report. These developments amid the token’s broader rally have tipped the balances towards the bullish side despite the massive unlock.

Coin’s Price Performance

XRP price today encountered notable turbulence in the wake of the massive unlock, plunging into the red territory. The token’s price rested at $0.6214, down nearly 5% in the past 24 hours. Further, its intraday low and high were registered as $0.611 and $0.6524, respectively. Nonetheless, weekly chart showed a 6% gain in the asset’s value, accompanied by an 11% gain in the monthly time frame. This broader upswing has sparked bullish sentiments for the asset.

Meanwhile, Coinglass data today illustrated that XRP futures OI slipped 7% to $956 million. Also, the derivatives volume dipped 50% to $2.21 billion, sparking uncertain investor speculations.

Nevertheless, another CoinGape Media report reveals a phenomenal rally in  XRP price by Christmas. The coin may witness a drastic shift in price, with a potential $3 target hovering over the horizon. Crypto market participants continue to extensively eye the token for further shifts ahead.

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.