The recent market recovery has seen the XRP price look to break the $2.5 level again, which could lead to a continuation of the uptrend. While all eyes remain on the $3 level to be reclaimed right now, bullish expectations abound for the altcoin. The XRP price, despite suffering recent crashes, is expected to reach new all-time highs, beating the $3.8 peak that has been persistent for over seven years now.

What Happens If The XRP Price Regains Momentum

Pseudonymous crypto analyst, “Guy on the Earth”, has shared an analysis of the XRP price that shows the possibilities that lie ahead for the cryptocurrency. So far, the altcoin has continued to consolidate after its rally back in 2024. With almost a year stuck in a consolidation trend and the market picking up, it is possible that the XRP price is finally ready for a breakout.

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One thing that stands out from here is the fact that the XRP price has continued to maintain higher lows through the consolidation trend. This suggests that while the direction may have been down, the overall sentiment still pointed to possible recovery and upside.

Given this, it is expected that the breakout from the consolidation phase would be massive. This could be akin to what was experienced back in November 2024, when the XRP price rallied by over 600% before reaching a top.

The analyst expects XRP to enter into what is essentially a “euphoric phase,” and the price is expected to reach $6. This would translate to an over 100% increase in price, and brand new all-time highs for the first time since 2018.

The Bears Are Still Lurking

While most indicators are still pointing toward bullishness, there is still the possibility that bears reclaim control once again. The main problem would arise if the XRP price were to fall below $2, setting the tone for the next wave of declines.

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The crypto analyst highlights that a decline below $2 would mean that the bull rally is over and the bear market is looming into view. In the worst-case scenario, the XRP price would fall into a longer consolidation trend, pushing it as low as $1.

Presently, it is important for the XRP price to clear $3 with momentum, putting the bulls in charge. Also, if the Bitcoin price continues to rise, then it could take the whole market into another bull run.

Featured image from Dall.E, chart from TradingView.com

Cardano, a public and decentralized proof-of-stake (PoS) blockchain has achieved significant milestones over the years. Earlier this week, Cardano registered a massive increase in TVL. A project based on Cardano, gained almost 8,000% of its TVL in the last seven days, according to DeFiLIama.

Modesty #101

Continuing this sentiment, Cardano recorded another impressive statistic. According to a famous analytical platform, Santiment, Cardano traders and investors expected a breakout from the coin that gained more than 50% of its value back in March.

The network has enjoyed a modest +6% price rise in the past 24 hours. According to the indicator by Santiment, the ADA supporters remain euphoric toward ADA. This is evident here by the fact that crowd sentiment toward ADA sat at the most positive levels since mid-November.

Also, both the whale transaction count didn’t record any impressive figures yet. While transaction count >$100k recorded a three digital stat, the latter only a 2-digital mark.

What’s more? The fact that ADA’s weighted sentiment trailed in the negative zone. As per Santiment’s insight, it stood at -0.94. Now, this could be perceived as a bearish development. But, contrary to popular belief, this could indicate a bullish development soon.

Waiting for my anchor 

Now, to convert this “ambiguity” into a solid bullish development, Cardano requires a trigger. Well, investors shouldn’t forget that hard fork is incoming.

Cardano (ADA) developer and researcher on Twitter published a thread on Twitter. He covered the major milestones that the largest PoS network would achieve with the release of Vasil hard fork in late June 2022.

#Cardano is anticipating a new wave of upgrades with the Vasil HFC event on the 29th of June 2022

Upgrades on Plutus- #Cardano‘s smart contract platform (CIPs)

are among the most anticipated components of this HFC event

Here’s a breakdown of each one of those upgrades: pic.twitter.com/bmU4U2bRkt

— Sooraj (@Soorajksaju2) April 18, 2022

The Vasil hard fork is scheduled for 29 June 2022. Once implemented, it would improve smart contracts capabilities and the user experience.

Interestingly, according to a Tuesday Twitter post from Cardano creators Input Output (IOHK), nearly 900 projects existed on the network. The figure grew by roughly 400 since 11 March.

After last week’s strong bounce back, the world’s largest cryptocurrency Bitcoin (BTC) is witnessing some selling pressure. As of press time, Bitcoin (BTC) is trading 2.4% down under $41,000 levels.

The recent pullback comes as Bitcoin faces strong resistance at the $42,000 level. As per the latest report, more than $21 million worth of long liquidations has happened over the last hour.

Almost $21 million in #Bitcoin Long Liquidations this last hour pic.twitter.com/8MxJpASejU

— On-Chain College (@OnChainCollege) March 21, 2022

On-chain data provider Santiment reports that the Bitcoin funding rates surged very fast amid euphoria over the last weekend. It notes:

Bitcoin has fallen back to $40.8k to close the weekend after being as high as $42.2k a day and a half ago. Funding rates have been valuable in identifying when traders are leverage longing, which have generally led to abrupt price corrections.

What’s Ahead for Bitcoin?

As we know, Bitcoin has shown strong volatility, especially since Russia’s invasion of Ukraine. The BTC price has been showing wild swings in the range between $35,000-$42,000. Just before last week’s rally, we have seen BTC showing strong consolidation at around $39,000.

Bitcoin recently met resistance at $42,000, however, this won’t be an end to the upward resistance. It can take support at $40.4K before resuming its upward journey once again. If BTC manages to breach $42K on the upside, then $46K-$47K will be the next resistance level. Even if it breaks above this, the next interim price target remains $49K-$59K.

However, the downside risks remain at the same time. Popular market analyst Michael Van de Poppe writes: “If $39.6K is lost, we probably are going to see a lot of pain”. In this case, we can see the BTC price potentially falling to $35K. If it fails to hold these levels, it can further drop to $30,000.

Last week, the Federal Reserve raised interest rates but despite that, Bitcoin made strong gains. It looks like the market has already factored-in such events.