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.

With recent moves, XRP price is again on investors’ radar, and many are drawing parallels with the virtual monster rally of 2017-2018 when the value of XRP surged as high as 57,000%.

Could we be at the threshold of another great upsurge?

XRP Price Déjà Vu: Is Another 57,000% Surge Coming?

In 2017, one XRP was trading for a fraction of a cent. At the beginning of 2018, it shot up as high as $3.31. Driving this upward trajectory was a mix of speculation in the market, growing adoption, and the larger cryptocurrency market boom. It thus yielded phenomenal returns to early investors.

Looking at it today – the XRP price again looks pretty promising. Analysts say today’s current market conditions are similar to the bull rally from 2017 into 2018.

XRP has achieved record lows in volatility – a common predecessor to some of the major price shifts. Even the technical signals have relayed that another big breakout may occur, such as the tightening of Bollinger Bands.

Popular cryptocurrency expert and trader Javon Marks, therefore, claims that XRP is currently depicting action much similar to its movement just before its giant 57,000% climb in 2017-2018, and he feels this price could be on the verge of another major upside to levels not seen in the last 6-7 years.

Analyst Predicts $22 Trillion Market Cap

XRP, for instance, reached its narrowest Bollinger Band Width (BBW) during the 2016-2017 session when the price consolidation was very tight in the range between $0.0050 and $0.0090. This consolidation was then followed by a wide upside break of 66,000%. Monthly volatility then rose from 66.50 to an incredible 982.22.

This consolidation phase of XRP has already fared longer than the one realized in the 2016-2017 period, even at lower monthly volatility. Therefore, some experts have resulted in believing that there would be a strong price breakout anytime soon, Analyst Tony Severino, for example, claims XRP monthly Bollinger Bands are tighter than before the historic 60,000% rally that ended in early 2018.

Even David Schwartz, Ripple’s Chief Technology Officer (CTO), recently highlighted the strong long-run performance of XRP since its inception seven years ago when XRP price had rocketed by 1500%.

In light of the resurgence of XRP, prominent cryptocurrency analyst JackTheRippler shared his highly optimistic projection for the coin’s market capitalization. He projects the market capitalization of Ripple could surge drastically within the next two years to usher in more enthusiasm among investors.

He also predicted that the market capitalization of XRP would increase to a staggering $4.897 trillion before correcting. Once that is done, he expects the token’s market capitalization to grow over the long term and rise to more than $22 trillion.

Ripple’s XRP: Primed for a Breakout in 2025?

Several factors can come together to make this huge jump in the XRP price. First, the case put up by Ripple against the SEC was very high-profile, and the favorable ruling greatly boosted investor confidence and, in turn, demand for XRP. Second, strong adoption by traditional financial institutions provides a sound bedrock for further growth.

On a more conceptual basis, fundamental upside for XRP might materialize from several possible narratives, such as crypto-friendly regulations in the United States following the re-election of Donald Trump, which could be possible if it’s to believe to Polymarket and Robert Kiyosaki.

However, an XRP breakout may take time, with the probable move happening around August 2025, when its triangle’s upper and lower trendlines converge.

For now, any sharp drop below the lower trendline could invalidate the long-term bullish setting for the coin’s price. Also, the general sentiment for the cryptocurrency market is very bullish, and investors are looking for their next big opportunity. Be it as it may, predicting the future of any cryptocurrency is extremely hazardous, but the signs for a possible resurgence of XRP are looking very good.

At the time of writing, the seventh cryptocurrency asset by market capitalization traded at $0.62. Even though the coin’s price is down by 1.41% in the last 24 hours, it has recorded a weekly price gain of almost 6%.  Over the past 24 hours, XRP’s trading volume has surpassed $1.53 billion.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

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.