The cryptocurrency market experienced a sharp reversal following its recent uptrend. As a result, top crypto coins such as XRP and Cardano (ADA) tumbled, causing significant losses to investors who bought during the rally. Disappointed by the downturn, investors are flocking to a new market entrant promising massive gains.
Which new coin can subdue XRP and Cardano (ADA)? Let’s find out!
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Summary
- XRP will enter the European finance markets with ETP as the price aims for $0.8 by the end of the year.
- Cardano’s (ADA) continued development sees its rising popularity and price and may hit $0.45 in December.
- VC Spectra (SPCT) price surges amidst of high investor demand, resulting in an 862.5% ROI for investors.
XRP Ready For European ETP: What’ll Happen To The Price?
Valour Inc, a subsidiary of DeFi Technologies, announced on November 22 that it would launch an XRP European ETP in December 2023. Consequently, the Ripple XRP news caused the XRP price to jump 7% from $0.58 to $0.62 the following day.
With the crypto market lifting from a prolonged winter in Q4, top cryptocurrencies, including XRP (XRP), followed suit. Consequently, the XRP price gained 45% from $0.51 to a high of $0.74 between October 1 and November 13. However, the market rally stopped abruptly and gave way to a downturn.
From November 13 to 22, the XRP price lost 12%, falling from $0.66 to $0.58. Consequently, market analysts rated XRP bearish and advised caution to crypto investors who want to buy XRP.
Moreover, a fall in the XRP trading volume and a whale setting their substantial XRP holding for sale made the XRP bearishness more pronounced. As a result, analysts predict XRP may fall to $0.5 support before it starts rising to end the year at $0.8.
Can New Partnerships And Network Developments Boost Cardano (ADA) Price?
Cardano (ADA) has made significant strides pushed by prominent partnerships and constant improvements on its network. On November 23, TheADA, an NFT Cardano chain, introduced AI in its operations to enable NFT creators to make the coolest NFTs easily.
Moreover, on November 13, Midnight, a Cardano (ADA) sister company, announced the launch of the Midnight Network, a privacy-focused technology and its token, DUST. Consequently, the ADA responded by losing 8% as it moved from $0.38 to $0.35 the following day.
Despite the fall, analysts expect the success of the Midnight Network to boost the Cardano (ADA) price, making it an ideal crypto to buy. Starting October 1 to November 13, the Cardano (ADA) price matched the crypto market on an uptrend that saw it gain 52% as it moved from $0.25 to $0.38.
Technical analysis indicates Cardano (ADA) is bullish, with its $0.35 price on November 22 lying just below a resistance point that it breached on November 23 to trade at $0.38. Consequently, Cardano (ADA) price projections show it may end the year at $0.45.
VC Spectra (SPCT) Emerges As The Crypto Market Safe Haven
With crypto enthusiasts facing losses in popular coins such as XRP and Cardano (ADA), VC Spectra (SPCT) investors continue to enjoy price surges in its advancing public presale. Consequently, crypto enthusiasts are looking for a safe investment to acquire it.
VC Spectra (SPCT) is among the new DeFi projects presenting a trailblazing decentralized hedge fund democratizing investing in the high-yielding tech and blockchain sectors. It has built a substantial investment nest egg from worldwide investors looking for profitability and unique investing ideas.
Moreover, VC Spectra (SPCT) harnesses the power of AI in investment decision-making and has an experienced team of venture capitalists that ensure proper risk management and profitability.
To enjoy the value in VC Spectra (SPCT), investors buy the SPCT token, its native digital currency. Investors then get voting rights, quarterly dividends, profit buybacks, and early access to new ICOs.
The VC Spectra (SPCT) public presale is in the fifth presale stage, presenting SPCTs for sale at $0.077, an 862.5% profit from $0.008 in the first stage. Massive investor demand has resulted in significant price surges.
VC Spectra (SPCT) investors who buy now envision profits at the final presale stage, where projections estimate its price will reach $0.08. However, if investor demand remains steady, projections indicate the final price will surpass earlier estimates, resulting in more profits.
Additionally, a significant bonus awaits new investors.
Learn more about the VC Spectra presale here:
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io/
Twitter: https://twitter.com/spectravcfund
Telegram: https://t.me/VCSpectra
The post XRP and Cardano Simultaneously Decline – Emerging Cryptocurrency Seizes Their Market Share appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/xrp-and-cardano-simultaneously-decline-emerging-cryptocurrency-seizes-their-market-share/