Cryptocurrencies Price Prediction: Cardano, OKB & Ripple — Asian Wrap 19 August
|Cardano Price Forecast: ADA dips with signs of further downside before potential rebound
Cardano (ADA) remains under pressure, extending its decline, trading around $0.91 at the time of writing on Tuesday after shedding nearly 4% in the previous session. On-chain data show that holders are realizing losses, as reflected in the negative NPL, hinting at mounting bearish sentiment. The technical outlook suggests ADA could dip further toward $0.84 before setting the stage for a potential rebound.
Crypto Gainers Today: Altcoins AB, OKB, POL rise in a soft market
OKB maintains an uptrend in motion following the triple-digit surge on the previous Wednesday. However, price action forms a rising wedge pattern on the 4-hour chart (shared below), underlining the risk of a potential pullback. At the time of writing, OKB trades at $120, approaching the apex of the wedge and the pattern’s outcome. A decisive close below the support trendline could test the $108 and $88 support levels.
Ripple Price Prediction: Profit-taking remains weak despite XRP ETF delay
Ripple's XRP briefly dropped below $3 on Monday but quickly recovered despite the Securities and Exchange Commission (SEC) delaying its decision on the filings of several asset managers seeking to launch exchange-traded funds (ETFs) tracking the remittance-based token. XRP briefly declined below $3 on Monday, continuing a weak price action that spanned from last Thursday's inflation-induced market-wide correction.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.