Kategorie: Crypto News

Ripple (XRP) appears to have stopped the bleeding after two days of steep decline. The coin has in fact found some bullish uptrend in what looks like a trend reversal. But can it actually bounce back right away after crashing at the start of the week? Details are below but first, key points.

• XRP tried to test $0.5 after two days of steep losses

• The coin was however rejected at that price and has since fallen 10%

• XRP will likely retest $0.5 again this week as bulls try to find more demand

Data Source: Tradingview 

Is Ripple bouncing back?

It is important to be aware of the dead cat bounce in crypto right now. You see, after every crash, we often see some trend reversal where coins rally only to fall again. For XRP, the attempted surge towards $0.5 appears to be a dead cat bounce. 

The fact that the coin was rejected firmly in this attempt shows that there is very little demand at the moment. Besides, overall sentiment in the crypto market has not changed that much. While we expect XRP to try and reach $0.5 in the coming days, it is likely the coin will fail again. 

Also, XRP still faces crucial hurdles even if it was able to go above $0.5. The price action will struggle to maintain any prolonged upward momentum right now. For these reasons, the outlook for XRP still remains bearish in the short term.

When will XRP recover?

There were hopes that the second quarter of 2022 would provide much-needed impetus for crypto. But it is clear that sentiment in the broader market has not yet shifted significantly in a positive way. 

As such, XRP will likely face a period of high volatility until the end of June. But from a long-term point of view, there could still be superb gains by year’s end.

The post Ripple (XRP) tests $0.5 in the recent rally – Can it bounce back from the crypto crash? appeared first on Coin Journal.

Apecoin (APE) is trending upwards today in line with the broader recovery in crypto. The coin appears to have paired some of the losses we saw in the last few days. But can this renewed bullish momentum push the coin above $10? More details to follow below but first, some highlights:

• Apecoin has surged by over 40% over the last 24 hours

• The breakout comes after nearly two weeks of negative sentiment around the coin

• Reclaiming $10 could pave the way for a decisive run in the near term.

Data Source: TradingView 

Apecoin (APE) price analysis

The road towards $10 for APE now seems very plausible. After two weeks of weakness, APE has decisively trended upwards. Although the broader crypto market has recovered from losses over this week, APE is outperforming the market by almost 3 times. 

If indeed the current momentum breaks the $10 mark, it will open a new window of opportunity that could allow this NFT-based coin to surge even further. In fact, it is plausible that APE could rally towards its April highs and cross above $20. This will represent gains of up to 200%. 

Despite this, it is important to note that this renewed uptrend could just be a normal pullback. After all, the crypto market had crashed over the last few days. It was expected that the downtrend would stop slightly as it always does. If APE is not able to hit $10 in the coming days, we may see more losses again.

Can you profit from APE right now?

APE has performed quite well in 2022. But after hitting highs of around $24, the coin has faced a very steep and costly correction. Right now, APE is still trading at a huge discount compared to its previous highs. 

While we are not saying the coin will surge towards $24 in a few days, if you want to hold it for some months, this would be the most ideal time to buy.

The post Apecoin sees renewed bullish momentum – Can the coin breach $10? appeared first on Coin Journal.

The Terra LUNA crash has led to worries about the next top cryptocurrencies that could crash. Like with LUNA, it is incredibly difficult to make this prediction. Besides, in most cases, coins tend to move in unison. So, in my view, here are the two cryptocurrencies to avoid after the LUNA crash.

Waves

Waves is one of the biggest blockchains in the world. Its WAVES token has a market cap of over $797 million. It is a popular coin that has been used to build some of the most popular products in the decentralized industry. Some of the most popular apps in its ecosystem are Vires Finance and Waves Exchange.

The biggest concern about Waves is Neutrino, its algorithmic stablecoin that has a close resemblance to Terra USD. The coin has been having some serious issues in the past few months. For example, in April, it lost its peg and crashed to an all-time low of 33 cents. 

The coin is still below its parity, leading to significant concerns that it will also lose its peg in the coming months or weeks. If this happens again, we could see a major sell-off of both Neutrino and Waves. Indeed, the Waves price has already crashed by more than 88% from its highest level this year.

Cardano

Cardano is one of the most popular cryptocurrencies in the world. Like Terra, it is also one of the biggest coins in the world with a market cap of more than $19 billion. The only major difference between Cardano and Terra is that it is not associated with any large stablecoin.

The main concern about Cardano is that its ecosystem is a bit lacking. While ADA is valued at over $19 billion, its DeFi ecosystem has a total value locked of over $130 million. Critics will point to the fact that Terra’s ecosystem had a TVL of over $30 billion at its peak.

However, investors should be worried because Cardano seems to be a ghost chain that has no meaningful project in its ecosystem. This is despite the fact that it was started in 2015. 

Indeed, it seems like investors have been worried about Cardano for a while since its market has fallen from more than $91 billion.

The post 2 big cryptocurrencies to worry about after LUNA crash appeared first on Coin Journal.