Further Downswings for ADA, XRP; New Presale Token Defies Bearish Trends
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As the crypto market experiences another downturn, Intel Markets defies the trend with its rapidly selling presale, positioning itself as a potential breakout star in the DeFi space.
The crypto market took another downturn and with September being historically bearish, further downswings are not out of the question. As a result, traders are betting on a Cardano and Ripple dump. Nevertheless, a bounce is also on the cards.
Conversely, Intel Markets, a new ICO, defy bearish trends. The presale has been selling out rapidly, outpacing other ICO tokens despite recently going live. Given its massive growth prospects and anticipated disruption of the $36 billion global crypto trading market, it is too good to overlook.
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Intel Markets: Defying bearish trends and selling out fast
Intel Markets, an up-and-coming crypto, is the latest sensation in the ICO world. Despite the broader market’s bearish trends, it trades on the upside, selling out fast in presale. In just a few days after its debut, more than $220,000 has been raised in early funding, propelled by its growth prospects and unique offerings.
While presale tokens are typically oblivious to the wider market’s downswing, only a handful have significant growth prospects. As an AI-powered trading platform, INT will address real-world challenges. Users can trade diverse crypto assets while enjoying advanced features like 1,000x leverage, trading bots, copy trading, and other advanced features.
On the cusp of skyrocketing, the ongoing presale represents a good entry. A token is priced at $0.009 in stage 1, a low entry point compared to top altcoins like XRP and Cardano. Meanwhile, a 65x jump in value is anticipated after its debut, hailed as this year’s next breakout star.
Cardano: A drop below $0.2?
Cardano, a blockchain platform, is among the most sought-after in the crypto space. The 2021 Alonzo hard fork introduced smart contract functionality to the blockchain, now competing with the likes of Ethereum and Solana.
In recent Cardano news, the Chang hard fork upgrade went live earlier this week, introducing on-chain governance. Initially a native utility crypto, a new use case has been added to ADA: governance. Holders can shape the platform’s future by electing representatives and voting on proposals.
On the market side, ADA is above the $0.3 support, down by over 10% in the past 7 days. With fear of further downsides looming, analysts predict a drop below $0.2 before a more healthy bullish reversal. While this might not necessarily play out, sentiment is nonetheless cautious and pessimistic.
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Ripple: Targets $1
Ripple was another altcoin with a significant downturn this year. Between the legal battle with the SEC and the crypto market’s several downturns, it lost key price levels. The good news is the court’s final verdict is in: a $125 million penalty.
As expected, the XRP price reacted positively after this development, soaring past $0.6. However, it has taken a slight downswing since then, down by 5% on the weekly chart. While current market conditions don’t give room for sustained growth, a significant bounce remains on the cards.
According to a popular XRP price prediction, a clear break in the pattern above $0.6 will mark the beginning of a big leap. The forecasts hint at a rally past $1 before the end of Q3, placing it on the list of altcoins to watch out for.
Conclusion
Current market conditions might hint at further downturns in the prices of Cardano and XRP but their outlooks are nonetheless promising. Meanwhile, Intel Markets, a new ICO, trades on the upside, defying overwhelming bearish trends. As it sells out fast and prepares to shake up the crypto trading world, it is a new DeFi project to keep on the radar.
For the latest updates and information, visit the official Intel Markets website.
Read more: Experts predict these coins will lead the bull run: Binance Coin, Intel Markets, Tron
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