The week has been extremely chaotic for the cryptocurrency community, with prices declining and inclining overnight. After the attack of many negative news, and rumors, the prices have dropped yet again. Starting from G20 considering cryptocurrencies risky to JFSA’s statement against Binance, it has been a draggy week for the cryptocurrency world.
According to a survey conducted by Finder.com, 8% of the American population owns cryptocurrency and another 8% of them plan on buying it in the future. This estimates to up to 190 million restricting only to the USA who has interest in the latest developments in the crypto-world. This segment is for all those investors and markets observers worldwide who need to plan out their trading with minimum risk to their funds.
We have consolidated the viewpoints of many investors, miners, influencers, market analysts and, skeptics regarding individual tokens, today specifically for Ripple [XRP], Cardano [ADA] and, TRON [TRX].
Ripple’s day started off with a continued resistance from yesterday’s at $0.652. With an indecisive bull or a bear graph since post afternoon, Ripple is currently priced at $0.625 with a -4.16% decline in the past 24 hours. Ripple has been constantly in the news for their latest developments in their technology, listings on exchanges or expanding partnerships. Today, Ripple announced that latest Rippled version upgrade which is aimed to improve the scalability of the XRP Ledger and transitions.
Gregory Korotin, a market analyst from Samara says:
“There is a major resistance at the bearish trendline forming around $0.630. I’m expecting a pullback that can gain considerable strength, once it closes at this position, the price struggle will break out. I advise the investors to hold their funds until the breakout.”
Sybil Millar, a local business owner from Toronto says:
“I’m just going to HODL to my XRP, Ripple is the only one who has crossed the starting line. The Rippled update will really help XRP. This marathon will be won only by XRP.”
Manohar Shah, an investment banker from India says:
“Ripple has failed to hold gains against US Dollars. FUD is creeping back into the system with all these negativity around. People will take back all their money soon.”
To conclude, 55% respondents feel that XRP will break out from the resistance in the next 2-3 days and will be ready for a bull run. The rest 45% feel that XRP value will continue to dramatically decline further as market analysts indicate low points for all coins.
Cardano is currently selling at a price of $0.188 with a decline of -4.22% in the past 24 hours. Two days back, Cardano had broken out of its downward trend line for the first time since the beginning of this year. Due to recent rumors, a major break down in the prices shook the entire cryptocurrency market.
Jimmy Hadden, a cryptocurrency investor from Dundee says:
“I was so impressed with the major development in ADA, it had a clear bull run going on for itself. The news about child porno in blockchain technology, Binance misleading regulations, Mt. Gox’s accusing statements and denials have just created FUDs in our crypto community and ADA has fallen prey to it.”
Kyoko Kirwan, a trader from Westport says:
“These idiots just keep talking shit about ADA, but I will continue to buy it, they work very professionally. They offer the best token utility and I think they have a much better future value than any other coin.”
To conclude, 84% of the respondents are of the opinion that Cardano can make a better come back once again like it did two days ago. Once the negativity dies down, people will go back to trading. 16% of the respondents think that Cardano will continue to decline in its price as shown in its dragged decline graph since the beginning of the year.
Irrespective of the major cryptocurrency tokens falling below the red line into negative indications in CoinMarketCap, TRON has had a good week. It is currently trading at $0.038 with a dramatic hike of 26.58%. With their Test Net launch date nearing, investors are pumping in more and more money.
Carlos Resende, a Computer Engineer from Coimbra says:
“So I recently read on Trading View that ‘Tron needs a rest’. Yes, it surely does! These short-term frames of single upside momentum are absolutely discouraging. Today the prices might have been great, but I don’t believe in its stability.”
Norman Capponi, a miner from Naples says:
“TRON is hovering too close to overbought levels. I am not expecting too much because I believe these market analysts when they say a ‘reversal is possible’. The market has become very unpredictable, I only go by these technical analysis that I read online nowadays. Now they say, TRON will go back to its bearish zone, I believe them.”
In conclusion, 88% of the respondents are expecting a drastic drop in the prices in the next two days as TRON has been highly inconsistent with its prices, going over the selling zone rapidly and majorly declining in the same speed. A handful of 12% believes that TRON will retain its price at this level for a while since it has already broken itself from Bitcoin’s routine.
The post Ripple [XRP], Cardano [ADA], TRON [TRX] – Defeating the turbulence? Sentiment Analysis – March 23 appeared first on AMBCrypto.
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