Founder of Crypto Capital Ventures Dan Gambardello predicts a return of long-term opportunities to cryptocurrencies despite the bearish conditions that have been in play since the start of 2022.
#Crypto is back at what I call the 10x sweet spot. This is when macro 10x opportunities once again abound.— Dan Gambardello (@cryptorecruitr) December 1, 2022
More downside is in play, but long term opportunities have returned.#Bitcoin #Cardano #Xrp
The market remains somewhat stagnant in terms of price action and probably needs some time to completely process the recent FTX turmoil.
XRP, ADA: What are chances?
At the peak of its bull run in 2018, when it hit all-time highs of $3.18, XRP rallied nearly 49,500% within a year. XRP briefly rose to a market capitalization of $122 billion, clinching the second spot in the crypto market rankings, following only Bitcoin.
The impressive rally at the time was said to be buoyed by technical factors and the advancements Ripple made in its remittance technology.
Fast forward to 2021, and XRP was among the few cryptocurrencies that could not hit another all-time high during the last bull run, being weighed down by the ongoing Ripple lawsuit and the subsequent delistings it brought.
With hopes for the lawsuit seeing a resolution in 2023, several positive predictions have been made regarding the XRP price. One is the XRP price going past the $1,000 mark; if this happens, XRP would at least net a 249,000% increase if taken from its current price of $0.40.
Cardano's ADA surged thousands of percent in the last year, eventually reaching an all-time high of $3.10 on Sept. 2, 2021. ADA has underperformed this year, falling 89.75% from its peak.
However, an accumulation trend is emerging as large holders fill their bags at a discount. ADA ranks among the top 10 purchased crypto assets for the largest BSC whales in the last 24 hours, per WhaleStats data. ADA currently trades at $0.31.