The crypto market has stabilized today after Federal Reserve Governor Christoper Waller signalled a positive shift in the central bank’s crypto policy, with his remarks helping to boost the price prediction for XRP, ETH and ADA.
These three tokens have remained flat in the past 24 hours, and while they remain down for the week, Waller’s comments highlight how the regulatory environment is becoming increasingly pro-crypto.
We should therefore see significant gains in the medium- and long-term, while one new token in particular looks ready to rally in the next few weeks, as it prepares to launch.
Daily Price Prediction: XRP ($XRP) – Altcoin Preparing to Break Out of Bullish Pennant as ETF Launches Approach
At $2.40, XRP is down by 4% in seven days and by 15% in a month, while it retains a very impressive 340% increase in a year.
What these three percentages tell us is that XRP is strong in the longer term, but oversold in the shorter term, implying that a rebound should arrive sooner or later.
If we look at its chart, we see that it’s beginning to rise up from an oversold position, suggesting that it could enter a period of sustained growth.
For instance, its relative strength index (yellow) has rebounded from a low 30 about a week ago to 40, while its MACD (orange, blue) has flattened out after a prolonged decline.
Source: TradingView
XRP has also been trading within a bullish pennant from which it could soon breakout, adding another indication that good things could be soon coming.
And on a fundamental level, XRP holders have every reason to remain confident, especially when more than 10 XRP ETFs are likely to launch in the coming weeks.
When you add Ripple’s ongoing growth as a company, this points only to a rising XRP price over the medium- and long-term.
It could reach $3 again in November, before ending the year in pursuit of $5.
Daily Price Prediction: Ethereum ($ETH) – Dominant L1 Coin Set to Rally Hard as Reserves Accumulate More Coins
Ethereum has dropped to $3,847 today, with this price equalling an 8% decline in a week and a 14% drop in a fortnight.
ETH is still up by 46% in the past year, yet given the annual gains some other major tokens have made (e.g. XRP), it has plenty of room to climb further.
As with XRP, Ethereum remains in an incredibly strong position fundamentally, seeing as how Ethereum remains the biggest L1 network by a huge margin (in terms of TVL).
The past few months have also seen a growing number of public companies begin their own strategic ETH reserves, with BitMine and SharpLink sitting on treasuries worth around $13 billion and $3.5 billion.
It’s therefore a good period for Ethereum, which will return to solid growth once the market becomes more optimistic and bullish.
Source: TradingView
As we can see from its chart, its indicators have been declining more or less consistently since the first half of August, and they remain in a position which suggests that ETH is undervalued.
Given this overselling, and given that Ethereum is still fundamentally bullish, we can expect ETH to bounce back fiercely once market sentiment improves.
It could reach $4,500 in the middle of November, and enter the New Year above $6,000, assuming an end-of-year bull rally.
Daily Price Prediction : Cardano ($ADA) – ETF Launch and Network Growth Can Push Altcoin Back to $3
ADA has fallen by 1.5% in the past 24 hours, with its drop to $0.631 also representing a 10% loss in a week and a 23% decline in a month.
On the other hand, the altcoin boasts a 73% gain in a year, while it also has plenty of space to rise further, given that it’s still 79% below its 2021 all-time high of $3.09.
You could therefore argue that Cardano has comparatively underperformed this year, yet this arguably means that it could outpace other major tokens as it plays catch up during a future bull rally.
While it doesn’t have as many ETFs waiting to launch as XRP or Solana, for example, the Canary multi-asset ETF will include ADA, and once it begins trading it could boost institutional investment in the coin.
And when you add the steady growth of Cardano as an L1 platform, the potential for ADA’s price to appreciate over the coming weeks and months is pretty high.
Both its RSI and MACD are near bottoms, preparing the ground for a big rally, which could come as soon the first wave of altcoin ETFs begin launching.
In such a context, ADA could reach $1 by the middle of November, before hitting $3 by the end of December.
Snorter Token Raises $5.3 Million in Presale: Is Trading Bot the Next Big Thing?
Investors looking to diversify away from major coins may also be interested in investigating presale coins, since these can rally strongly when they list for the first time.
One of the biggest presales happening right now belongs to Snorter (SNORT), a Solana-based trading bot. Snorter has now raised an impressive $5.3 million in its presale, which will end in five days.
The reason for Snorter’s early success is that it’s in the process of launching its own automated sniping bot, which will help traders stay ahead of the market. It will monitor tokens on behalf of users, and then execute trades as and when liquidity reaches key levels.
By doing this, Snorter will help traders buy or sell coins just before they rally or dump. It also has a copy trading feature that enables investors to mirror the actions of ‘smarter’ money, which will provide investors with another means of making better trades.
Other features include limit orders, atomic swaps and protection from rugpulls. This makes it one of the most comprehensive trading bots in the market, with native token SNORT necessary to pay for access to its features.
This gives SNORT plenty of utility, meaning it should experience rising demand – and a rising price – as Snorter grows in usage. Holders will also be able to stake the token, while they can buy it now by going to the Snorter website.
Snorter is currently available at $0.1083, which is its final price before the presale ends.
Visit the Official Website Here
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