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Recent Crypto Dip Shows Decline May Be Over

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1 month ago

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Altcoins are showing signs of strength as the cryptocurrency market begins to recover from a significant correction in February. This rebound has pushed the total crypto market cap upward after bouncing off the $3 trillion mark on February 2.

Notwithstanding, this correction saw the altcoin market cap dip massively after a rejection at $425 billion. However, a key observation from crypto analyst Rekt Capital noted that despite the rejection from this significant resistance level, the pullback in altcoin market capitalization is much shallower than in previous downturns. This observation shows that the bulls might be slowly taking charge among altcoins.

Altcoins: Market Cap Faces Rejection At $425 Billion, But Altcoins Gain Strength

Rekt Capital’s technical analysis underscores the importance of the $425 billion resistance level for the altcoin market, particularly focusing on the total market capitalization of altcoins outside the top 10. This analysis comes amid a broader downturn in the altcoin sector over the past week, which is a continuation of a longer correction that began in early January when the market cap peaked at a multi-year high of approximately $440 billion.

Despite facing strong rejection at this key level, the depth of the latest retracement remains notably shallower than previous corrections. The current pullback measures around 50% from the $425 billion resistance, whereas the last two significant downturns saw steeper declines of 69% and 85%. This milder retracement is a change that could influence the trajectory of the altcoin market.

A key takeaway from this trend is the apparent weakening of resistance at $425 billion, which indicates that bearish momentum after the retracement across the altcoin market isn’t as strong as it was in the previous cycles. Unlike previous cycles, where heavy selling led to deeper drawdowns, the current price action signals growing market resilience.

Crypto market cap excluding BTC and ETH, currently at $859 billion. Chart: TradingView

What Does This Mean For An Altcoin Season?

Rekt Capital’s analysis aligns with the expectations of investors eagerly anticipating the arrival of the altcoin season. The relatively shallow pullback from the $425 billion resistance level strengthens the argument that this altcoin season could unfold better than in the past two cycles.

Crypto analysts like Rekt Capital are fervently anticipating an altcoin season to roll into action, where profits in Bitcoin starts rolling into altcoins and the altcoin market outperforms Bitcoin.

In another analysis, Rekt Capital noted a recent rejection of the Bitcoin dominance around 64%. However, he did note that history shows that rejections around 64% are mostly momentarily, and the real rejection is around 71%. When the Bitcoin dominance reaches here, a repeat of history could see it reject very harshly into a cycle-defining altseason. 

For now, Bitcoin dominance remains strong, and a full-fledged altcoin season has yet to materialize. Analysts like Benjamin Cowen suggest that the anticipated altcoin rally may be on pause, with Bitcoin continuing to absorb the majority of market liquidity. Until dominance shows a clearer reversal, altcoin investors may have to wait a little longer. 

Featured image from Pexels, chart from TradingView



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Ethereum To $4,000? Standard Chartered Lowers Expectations

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2 days ago

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March 19, 2025

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Ethereum, like the broader crypto market, has experienced a sharp drop in price in recent weeks. From a high of $3,352 at the start of 2025, Ether now trades around $1,800 and $1,900, reflecting a sharp drop to the world’s second-biggest crypto by market cap. Looking at Ether’s bigger picture, it’s down 47% from last year’s value.

If we go by the latest analyses and observations from commentators, Ether’s price correction will likely be extended. The altcoin is facing a huge bearish wave, with plenty of market factors undermining its price performance.

One significant factor is Standard Chartered’s recent decision to cut its price prediction by 60%, confirming market expectations.

Ethereum Faces A Descending Channel

Ethereum is currently in a price slump, and many experts expect a much deeper dive in the next few weeks. Ether’s price is currently floating above the $1,900 level as it continues its bearish price movements.

Analysts use the MACD indicator to verify and confirm the asset’s bearish sentiment. Also, the asset’s moving averages suggest a neutral trend and possible price consolidation.

According to a crypto user named “LVelarde,” Ether’s price continues to follow the descending channel, suggesting price consolidation. The asset’s price is consolidating below its 5-day and 200-day moving averages, with traders looking for possible rejection or breakout. Since it fell below $2k, sentiments have been generally bearish, with many questioning its future price trends.

ETH is currently trading at $1,894. Chart: TradingView

Standard Chartered Cuts Price Estimates For Ethereum

Even some of the biggest banks, like Standard Chartered Bank, are lowering their expectations of Ethereum. From a high of $10,000, the bank is reducing its price target to just $4,000, explaining that the Layer 2s are impacting its bottom line.

The bank added that changes and improvements to the blockchain affected its overall value, like its shift to the proof-of-stake and scaling roadmap.

Standard Chartered used Coinbase’s Base Layer 2 as an example, suggesting that the project has cost Ethereum $50 billion from its market cap. According to Geoff Kendrick, Standard Chartered analyst, Ethereum’s losses will continue as Base’s dominance in the industry continues.

Kendrick calls this the blockchain’s “midlife crisis”, adding that Ethereum’s chain has become a commodity with its Layer 2 framework.

Things Ethereum Can Do To Address Its Slide

According to Kendrick, Ethereum can address its downturn in two ways. First, it can leverage its security-based dominance in the context of the tokenization of real-world assets (RWA). If Ethereum focuses on security, it can maintain its 80% market share.

Second, it can charge taxes for its Layer 2s, but it’s highly unlikely. Kendrick expects Ethereum to continue its underperformance in the short term.

Featured image from Bloomberg, chart from TradingView





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XRP To Triple Digits? Analyst Confident In $100 Price Goal

Published

3 days ago

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March 18, 2025

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As one of the top-performing digital assets in the 4Q of 2024, it’s only natural that Ripple’s XRP attracts attention from its detractors and bullish supporters. The bearish sentiment has been wearing down the asset in the last few weeks, pushing the altcoin to as low as $1.96 last March 11th, the lowest in its three-month chart.

XRP has been highly volatile this month, trading between $2.30 and $2.47, still down by 1.6% from its previous month’s price. 

The sentiment is still bearish, but for some crypto analysts like Captain, XRP is set to increase, with $100 as its realistic target. Egrag Crypto, on the other hand, offers a more conservative estimate, saying that XRP can reach double digits this cycle.

Analyst Sets $100 As ‘Realistic’ Target

In a recent Twitter/X post, XRP Captain (@UniverseTwenty) shared that $100 is Ripple’s realistic target this cycle. The post has now received dozens of replies, but it leaves more questions than answers. For example, the crypto analyst failed to identify the timeframe for this surge or the factors or events that can trigger this surge.

XRP Captain’s latest tweet comes just as Egrag Crypto (@egragcrypto) added his thoughts on the coin’s direction. In the Twitter/X thread, Egrag Crypto boldly claims that XRP will hit double digits this cycle and surge to triple digits next.

To justify his predictions for the short term, Egrag Crypto used his “Just Do It” chart. He explained that the measured wave or cup pattern movement has formed within the arc, then added that the potential to this movement is $13.

Will XRP Break Past $300?

Ripple has a few bullish supporters right now, with crypto commentator Dark Defender adding his thoughts on the asset’s latest performance. According to Dark Defender, XRP can surge to $333 if it duplicates its impressive performance during the 2017 bull run. 

Dark Defender’s arguments and predictions for XRP received plenty of criticism. Some argue that XRP will not achieve this market price due to its market cap. Based on the current circulating tokens, XRP’s market cap will hit $1.6 trillion if its price just hits $280. Dark Defender shot down this argument and added that a crypto market cap doesn’t matter and is “just an illusion.”

Featured image from Pexels, chart from TradingView





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XRP Must Close Above This Level For Bullish Breakout: Analyst

Published

4 days ago

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March 16, 2025

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Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Este artículo también está disponible en español.

XRP has struggled to gain momentum, with its price caught in a downtrend since the beginning of March. Although XRP has managed to push up in the past five days after reaching a low of $1.93 on March 11, it has yet to fully recoup its losses in the first week of the month. 

The altcoin’s long-term prospects are still on bullish speculation, but its short-term price action has frustrated traders looking for signs of a breakout. Amid this stagnation, crypto analyst Egrag Crypto has outlined specific price levels that could determine whether XRP finally reverses its course.

Analyst Identifies $2.65 As Key Level Before XRP Can Challenge $3.00

Egrag Crypto, a long-time bullish advocate for XRP, recently took to social media platform X to outline key price levels that could determine the cryptocurrency’s next significant move. He identified $2.65 as the first critical threshold the coin must reclaim to sustain meaningful bullish momentum. However, the analyst expressed concern over XRP’s repeated tests of lower boundaries, which is in reference to the recent bottom at $1.93.

According to the analyst, the frequent retests of this support level are a double-edged sword. While multiple touches on resistance can eventually trigger a breakout, repeated tests of support weaken its integrity, increasing the likelihood of a breakdown. He likened this pattern to knocking on a door that would eventually open or break. He highlighted six instances of XRP retesting this zone since December 2024 on a 12-hour candlestick chart, warning that prolonged weakness could pave the way for further downside.

For the crypto to escape this cycle and shift into bullish territory, Egrag emphasized the importance of a strong close above $3.00, not just a brief move past it. This level has served as the upper resistance trendline for the past two weeks and has been a barrier to any sustained uptrend. Failure to break and hold above $3.00 could cause continued correction in the short term and keep XRP trapped in its current range.

XRPUSD is currently trading at $2.35. Chart: TradingView

However, the analyst believes XRP’s chances of reaching $3.00, considering the current price action, are slim without securing a close above $2.65.

Image From X: EGRAG CRYPTO

 

What’s Next For XRP After $3?

March has been particularly bearish for XRP, with sellers maintaining control as it failed to reclaim lost ground. However, if XRP bulls manage to close above $3 before the end of the month, it will open up the door for the resumption of a price rally. With this in mind, Egrag set an initial target of $4.80, placing XRP at new all-time highs.

Interestingly, this target is modest compared to the analyst’s more ambitious long-term projections. Egrag has previously predicted that XRP could surge to $110 in the long term. At the time of writing, XRP is trading at $2.37 and is still 26.5% away from reaching $3.

Featured image from Crypto Logos, chart from TradingView



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