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The cumulative value of cryptocurrencies stands at $1.64 trillion, and BTC market dominance has dropped below 50%. In the coming days, the end of the Christmas holiday and increasing excitement for ETFs are expected to further heighten volatility. So, what are the predictions for SOL, XRP, and ADA coins in the event of a potential increase in volatility?
Solana (SOL) 2024 Prediction
SOL Coin recently tested the $96 support level and rebounded from it, indicating that investors still have bullish expectations despite everything. Some investors are confidently acting on the belief that a “sell the news” event will not occur, even with sudden drops in BTC prices.
Both moving averages are sloping upwards, and the RSI is signaling in favor of a rise. The current outlook for SOL Coin suggests a continuation of the uptrend, potentially leading to a jump to $156 if it closes above $126.
However, a fall to the 0-day SMA ($71) could be seen if the price drops below the $96 and then the $92 levels.
Ripple (XRP) 2024 Prediction
XRP Coin has tried but failed to permanently overcome the $0.65 supply zone. The conclusion of the lawsuit is still months away, and the widespread fear of a collective appeal is dampening expectations for its performance in 2024. Moreover, the prevalent narrative is that XRP Coin will suffer due to the declaration of LUNA and UST as securities. However, this is nothing more than populist rhetoric from those not well-versed in the details. We have previously discussed why XRP Coin and LUNA are structurally different and why one is a security while the other is not.
The price, currently trapped between $0.56 and $0.67, seems inclined to return to $0.56 for now. However, if it breaks through the resistance, it could climb to $0.74.
ADA Coin 2024 Prediction
On December 28, ADA Coin approached breaking through the symmetrical triangle from above but faced strong selling pressure as indicated by the long upper wick. At the time of writing, the price stands at $0.6070.
It is impossible for ADA Coin investors to see larger rallies without overcoming the $0.68 barrier. The price currently faces more downside risk. If an upward breakout occurs, we could see a rise to $0.8, while a downward scenario could lead to retracements to $0.5 and $0.46.
