Cryptocurrencies Price Prediction: Ripple, VeChain & Cardano — Asian Wrap 04 May


XRP Price Prediction: Ripple commences 70% bull rally

XRP price broke the neckline of an inverse head-and-shoulders pattern on April 29, sending Ripple up over 13% for the day. The bottoming pattern projects a notable advance moving forward, exceeding the psychologically important $2.00. Ripple is a classic high-risk, potentially high-return cryptocurrency opportunity.


 
VeChain price consolidation prolonged, while VET developers pursue a dynamic eNFT ecosystem

VeChain price has lagged the collective rebound in the cryptocurrency complex with a meager 12.5% rally since the April 17 low. To overcome trend line resistance and march to the all-time high, VET may need a catalyst. VET to capitalize on enterprises bringing NFTs to the ecosystem.

 

Cardano price tests bull’s endurance, as ADA battles with all-time high

Cardano price is coiling along the all-time high, unable to participate in the rally of the broader crypto market. The 10-week simple moving average (SMA) has caught up to price, but one final bear-trap may be necessary to remove the weak holders and engage speculators with a longer-term horizon.

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Nightmares repeat as BTC flash crashes

Bitcoin price slid roughly $7,000 on Wednesday after Elon Musk tweeted that Tesla will not accept BTC. Ethereum price dropped only $270 and is in recovery mode. Ripple eyes a dip into the demand zone ranging from $0.941 to $1.156 before it attempts to rise higher.

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Polygon sets sights on new all-time high despite recent flash crash

MATIC price shows a massive spike in buying pressure that has undone the recent crash. A sustained buying pressure here could propel Polygon price to the 161.8% Fibonacci extension level at $1.287. A breakdown of the support barrier at $0.872 will invalidate this uptrend.

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Ripple struggles to break through stiff resistance

XRP price seems to have suffered from the sell-off caused by Elon Musk's announcement that Tesla stopped accepting cryptocurrency payments. XRP price slid by more than 22% over the past 24 hours to hit a low of $1.20. Buyers seem to have quickly scooped up more tokens at a discount.

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Tesla ditches Bitcoin as payment but may accept Dogecoin instead

Dogecoin price plunged by over 25% in the past 24 hours, reaching a low of $0.38. DOGE fell in tandem with the rest of the crypto market following Elon Musk's announcement that Tesla is suspending vehicle purchases using Bitcoin. The meme-coin could be awaiting a recovery if Tesla decides to accept DOGE as payment instead. 

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Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

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