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Despite the anticipated positive atmosphere following Bitcoin ETFs, the market did not react as expected, leading to a decline in BTC and subsequently altcoins. Nevertheless, some altcoins continue to receive investor support. Considering this, we have evaluated the potential outcomes for three cryptocurrencies in the coming week.
The Future of Polygon (MATIC)
With its growing ecosystem and established partnerships, Polygon (MATIC) tops the list. For instance, last year, major companies like Starbucks (NASDAQ: SBUX) started using the Polygon blockchain. The blockchain platform continues to attract investors’ interest, as evidenced by a recent partnership announcement with Fox Corporation.
Despite these partnerships, MATIC has seen a decline in sync with the rest of the crypto market. Bulls are struggling to keep MATIC above the critical level of $0.70.
A potential market rally could help MATIC reclaim the resistance level at $0.80. At press time, MATIC is trading at $0.78, reflecting a weekly loss of approximately 11%.
What Will Be the Price of XRP?
XRP remains a topic of interest, primarily due to the ongoing Ripple-SEC lawsuit. Recently, Ripple has taken a stand against the SEC’s request to disclose financial statements and information about corporate sales.
Market trends have reflected significant activity in XRP-related products, with $2.2 million in movements as of January 16, a substantial increase from the previous week’s $900,000.
Based on recent price actions, XRP is trading at $0.55, with a 5% decrease observed in the daily trend over the last seven days.
Will Cardano (ADA) Rise?
Recently, Ali Martinez pointed out the parallel between Cardano’s current consolidation and the situation in 2020. Martinez suggested that if the pattern repeats, ADA could see a significant surge in April.
If this trend continues, the potential price target of $0.80 could lead to a correction to the $0.60 region, followed by a potential move towards $7.
