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The recent crash of Bitcoin to approximately $98,000 has sent shockwaves across the cryptocurrency market, spurring investors to explore altcoins. Geopolitical tensions in the Middle East and global economic worries have exacerbated the market turmoil, with several altcoins experiencing declines exceeding 10%. Yet, while many altcoins have remained stagnant, some are poised for a promising rebound.
Are XRP, XLM, and DOGE Set for a Comeback?
Ripple’s XRP is priced at $2.02, having dipped by 2.3% within a day. Despite a bearish outlook, forecasts indicate recovery potential in July, with predictions ranging from $1.91 to $2.22. This suggests a possible 10% surge, even though XRP fell over 12% in the past month.
Stellar (XLM), currently valued at $0.2303, suffered a 2.6% fall in the last 24 hours. Despite bearish pressure, July exhibits signs of improvement with anticipated prices between $0.26 and $0.28, translating to a 23% gain. The RSI for XLM has dropped to oversold levels, hinting at a short-term rally. While most moving averages are still on the decline, some momentum indicators are gaining strength.
Dogecoin (DOGE) trades at $0.1523, marking a 1.3% dip over 24 hours, with a startling 33% decline since early June. Still, experts predict a climb to $0.17 in July, representing a 19% increase. If market conditions improve, there is potential to revisit its all-time peak of $0.70.
How Are SUI and ADA Faring in the Bearish Market?
SUI coin, priced at $2.49, has decreased by 2.5% over the past 24 hours, showing strong bearish signals. However, renewed buyer interest could ignite a rebound given its robust fundamentals and long-term prospects.
ADA began June bouncing from $0.51, currently priced at $0.5463, still stuck between $0.65 and $0.70. It could trigger a strong upward trend toward $1.43 if it maintains its hold above $0.60. Failing to do so might see it retreat to $0.50. The upcoming 12 days, with favorable market conditions, could see ADA rising above $0.72.
Key Takeaways from the Market:
• XRP could see a 10% increase in July despite recent declines.
• XLM shows potential for a 23% appreciation.
• DOGE may rise to $0.17, looking toward its previous highs.
• SUI remains appealing for its growth prospects.
• ADA could surpass $0.72 within two weeks with improved market conditions.
The recent Bitcoin plunge has not only spotlighted the current volatility but also highlighted potential opportunities in the altcoin universe, drawing attention to specific coins that could offer short-term gains amidst an uncertain crypto climate.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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