The crypto market is ever-exciting with constantly changing prices. The bearish and bullish trends aren’t as straightforward as they seem, and can be due to artificial inflations. Let’s understand how Cardano (ADA) price crash from last year is a determining factor and what the whale activity for Ripple (XRP) means. We’ll also compare how Snowfall Protocol’s (SNW) steady progress is an opportunity for investors.
Cardano (ADA) Saw More Lows Than Highs in 2022
Statistics show that Cardano (ADA) recorded the second-largest drawdown in 2022. The Cardano (ADA) trading volume went from $40 billion to less than $10 billion. Cardano’s (ADA) price hasn’t crossed the $1.23 threshold since it fell on 21st January 2022. Interestingly, Cardano (ADA) started 2023 with a rising trend. The Cardano (ADA) token is currently priced at $0.33 after a 2.8% increase in the last 24 hours. The Cardano (ADA) network has been experiencing whale activity, leading to a 30% increase in the price compared to December 2022. Even the Cardano (ADA) trading volume showed a two-month high. However, experts say that Cardano (ADA) token’s price may not sustain for long. They predict that Cardano (ADA) is unlikely to be a reliable choice.
Ripple’s (XRP) Latest Bullish Trend Is a Result of Whale Activity
Ripple (XRP) has projected a bullish trend with a 12% increase in price. Ripple’s (XRP) price breached its two-month hurdle and is currently $0.37, with a 1.28% increase in the last 24 hours. But the Ripple (XRP) price rise is attributed to an increase in whale activity on the network. Trends show that Ripple (XRP) has had resistance at its current price since May 2022. Experts feel that Ripple’s (XRP) price might pull back again if it doesn’t breach the resistance soon. A crash can push Ripple’s (XRP) price to $0.288. The spike in whale activity from 11 to 222 on the Ripple (XRP) network is the likely cause. Experts also predict that Ripple’s (XRP) price will have to handle $0.448 resistance if it manages to cross the $0.37 mark. Either way, Ripple (XRP) has a tough time ahead.
Experts Predict a 1000X Gain for Snowfall Protocol (SNW)
Snowfall Protocol (SNW) has been steady since the presale was announced. Snowfall Protocol’s (SNW) token is currently priced at $0.182. Snowfall Protocol’s (SNW) presale stage 2 ended a day early, and is inching toward the end of presale stage 3. Snowfall Protocol (SNW) has raised $3 million and announced the prototype of dApp to strengthen its ecosystem. Snowfall Protocol (SNW) facilitates a cross-chain transfer of fungible and non-fungible tokens. The wallet and mobile app of Snowfall Protocol (SNW) come with web3 compatibility and high security. Snowfall Protocol (SNW) promises speed, transparency, and low-cost transaction fee. Snowfall Protocol (SNW) token’s price surged from $0.025 in presale stage 2 to $0.075 at the start of stage 3. Experts say that Snowfall Protocol (SNW) prices can gain up to 1000X in the coming months.
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