The overall bearish sentiment for Cardano (ADA) continues to rise as analysts now foresee a massive 33% price crash for the altcoin. This pessimistic projection comes as ADA struggles to gain traction in the market, with its value remaining stagnant or steadily dropping to lower levels. 

Cardano (ADA) Crash Incoming

Compared to other prominent altcoins in the crypto market, Cardano has performed poorly, struggling with price declines and sluggish growth. Consequently, a crypto analyst, identified as ‘Financialfreedomgoals’ on TradingView, predicted that cryptocurrency is likely to experience more than a 30% crash to new lows. 

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The analyst notes the broader negative state of the current crypto market, highlighting that most altcoins are stuck in a “bearish rut.” He disclosed that rather than achieving new all-time highs, these coins have been setting fresh lows, underscoring the persistent downtrend and decreased confidence amongst investors. 

Cardano, in particular, has had its share of negative sentiment and volatility. The cryptocurrency has stayed unwaveringly below the Exponential Moving Average (EMA) 200 line, a key technical indicator traders often use to gauge long-term trends. Typically, when the price of a cryptocurrency stays below this line, it tends to signal a continuation of a bearish trend. 

Given the present bearish state of the market, the crypto analyst has dismissed the idea of an upcoming altcoin season, where the majority of cryptocurrencies excluding Bitcoin experience significant price gains. 

On the daily time frame, Cardano is trading below the EMA 200 line and the bearish trend line. Initially, a rising wedge pattern had formed on the cryptocurrency’s price chart, however instead of breaking out, Cardano saw a series of negative candlesticks alongside a bearish crossover on the Moving Average Convergence Divergence (MACD). 

This series of negative indicators suggests that bears may be tightening their grip on Cardano’s price. As such, the crypto analyst foresees the ADA continuing its descent to reach fresh lows at target areas: 0.2506 or 0.2197. These targets are calculated using the Fibonacci retracement ratios of 1.272 and 1.618. 

0.3815 Resistance Could Trigger Bullish Surge

Despite maintaining a largely bearish stance on Cardano’s price outlook, Financialfreedomgoals has hinted at a potential bullish turnaround. He has suggested that a price reversal for ADA could be possible if the price of the cryptocurrency manages to break above the key resistance at 0.3815 Fibonacci level. 

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Crypto analyst Sssebi shares an even greater bullish outlook for Cardano. He highlights that during the previous bull market, ADA’s value increased by more than 100X. As a result, the analyst believes that ADA will rally by at least 20X in this current market cycle, expressing even stronger confidence that the cryptocurrency will reach $5 soon. 

As of writing, the price of ADA is trading at $0.3576, reflecting a significant increase of 11.39% over the past week, according to CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

After the SEC vs. Ripple Lawsuit, XRP price has been moving sideways. Without volatility, investors will likely look for XRP rivals with higher growth potential, allowing them to turn their portfolios from $1,000 to $10,000. This article outlines six such cryptocurrencies.

6 XRP Rivals With Potential To Turn $1,000 to $10,000

Here are the 6 XRP Rivals with huge potential in the upcoming bull rally that could help investors grow their holdings. 

1. Solana (SOL)
2. Polygon (MATIC)
3. TRON (TRX)
4. Stellar (XLM)
5. Cardano (ADA)
6. Toncoin (TOM)

Solana

Built using the Proof of History (PoH) technology, Solana can transfer 65,000 transactions per second (TPS). Although this altcoin saw a massive selloff after the FTX collapse, the comeback of SOL since 2023 is nothing short of a miracle. 

The connection between Solana and FTX founder Sam Bankman Fried, which was the reason for Solana’s downfall, eventually became the reason for its success. As a result, SOL surged by 2,527% between late December 2022 and mid-March 2024. This historic rally could be the start, considering the recent near-six-month consolidation that SOL price has slipped into. 

The bull flag continuation pattern forecasts a breakout from the sideways movement could propel SOL by 1127% to $1,348, making Solana a prime XRP rival.

Polygon 

From its All-Time High (ATH) of $2.923, the Layer 2 token has plummeted 88%. Since March 2024, MATIC price has shed nearly 70% of its value. Due to this massive collapse in Polygon’s market value, investors can buy this top altcoin at a discount.

Additionally, data from Santiment shows Polygon’s on-chain activity has shown an incredible uptick in the past few weeks. The spike in network growth coupled with daily active addresses reveals an inflow of new investors, aka capital, and a resurgence in existing investors. This development suggests Polygon price is ready for a takeoff by ending its near-three-year old consolidation range.

TRON

TRON is another key cryptocurrency that has stolen the spotlight in recent days. This development can be attributed to the founder Justin Sun, who has triggered a meme coin migration frenzy from Solana to the TRON ecosystem via the SunPump platform.

This development has caused a massive uptick in TRON fundamentals, a key XRP rival. If such value accrual updates are consistent, TRX price could propel higher, allowing investors to turn their investment in TRX from $1,000 to $10,000.
TRON forms an Adam and Even pattern that forecasts a 62% rally in the near term to $0.1971. As mentioned above, TRX could rally much higher if this outlook continues. 

Due to their strong fundamentals, these cryptocurrencies could turn $1,000 to $10,000.

Stellar

The key reason for this cryptocurrency being an XRP Rival is the involvement of an ex-Ripple employee developing the Steller blockchain, a competitor of Ripple. This altcoin has remained unfazed despite multiple bear markets and will likely explode on the news that XRP is not a security. 

XLM price trades at $0.009, a much higher discount than its rival XRP, making it a good investment. The upcoming bull rally could propel XLM price to retest the ATH at $0.798.

Cardano

Cardano whales have been actively accumulating over the past mid-2022. Wallets holding between 100K to 1M and 1M to 10M ADA have increased their balance from 5.67B and 5.57B to 6.02B and 5.7B, respectively.

This massive scale of accumulation shows that whales are anticipating a surge in Cardano price in the near future. ADA being an XRP rival, therefore, makes a good investment that could help turn $1,000 to $10,000.

Toncoin

Toncoin is the recently launched meme coin on the Telegram-linked TON blockchain. This coin has witnessed massive volatility due to the connection with Telegram founder Pavel Durov’s arrest. Since this is a newly launched cryptocurrency and an XRP rival, it has a higher chance of soaring. 

TON price hit an ATH of $8.28 on June 14 and shows that it could rally even higher, especially if Durov is released with a clean bill, allowing this XRP rival to shoot into the stratosphere.

All in all, SOL, MATIC, TRX, ADA, XLM, and TON are the 6 XRP rivals that show huge promise of helping investors turn their investment of $1,000 into $10,000. 

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Akash Girimath

Akash Girimath is an engineer at core, but is interested in the chaos of the financial markets. Akash is senior report and analyst who also trades cryptos on a regular basis and maintains a small crypto fund for friends and family.

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.