Credible Crypto pseudonymous analyst says leading altcoin rival ADA could see a 74 percent collapse. Analyst Ekta Mourya talks about a bearish scenario for XRP. We have compiled these 2 altcoin predictions of analysts for our readers.
ADA price prediction: There is a big collapse on the table for altcoin!
As you have been following on Kriptokoin.com, the Bitcoin and altcoin market is trying to find a direction. While some analysts expect strong rallies, others are warning of a crash. An analyst with the pseudonym Credible Crypto says Cardano is “not looking great” right now. According to the analyst, ADA is at risk of falling further, even after correcting over 90% from the ATH level. The analyst says there are good reasons for this. Credible Crypto predicts that ADA will likely fall between 57% and 74% to reach its downside targets. In this context, the analyst makes the following statement:
The idea is that we’ve probably peaked here (at the 2024 high of $0.810) and now we may have started to collapse. And if that’s the case, we’ll probably go back below the green zone (around $0.33) and then go to these lows that have accumulated here. There is a higher area of demand or support in this cluster between $0.12 and $0.20. And that would be the downside target if we go down from where we are now.
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 been below the $0.50 resistance all week. Thus, the altcoin has dropped 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 signal a possible reversal of the recent downtrend. 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 peak 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 forecasts in the article are those of analysts and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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