In the crypto space, analysts and market observers are predicting the rise and fall of various coins. One such coin, Sparklo (SPRK), is currently being predicted by analysts to skyrocket in 2023. However, two other popular coins, Cardano (ADA) and Ripple (XRP), have recently gone bearish.
Cardano (ADA) Loses 2% Market Share
The most actively developed crypto project, Cardano (ADA) is currently struggling in the market. Over the past 24 hours, the price has dropped by 2.42%, while over the past 7 days, it has increased by 3.13%.
Meanwhile, Cardano (ADA) has shown signs of immense growth after a strong quarter, fueled by impressive fundamentals in the past few months. The seventh-largest cryptocurrency by market capitalization closed above a major psychological resistance zone last week.
This occurrence could potentially strengthen bullish sentiment for a token for the rest of 2023. Overall, Cardano’s (ADA) price has surged by over 70% since hitting a low of $0.25 in December 2022, making it one of the top gainers among the top 10 cryptos by market cap year-to-date.
Ripple (XRP) Witness Little Price Drops Despite Latest Price Rally
Since January 1st, Ripple’s (XRP) price has soared by over 70%. Currently, the price is hovering around $0.51. Besides, breaking through the multi-year resistance level at $0.55 has proven to be a major challenge.
Following a recent surge, Ripple (XRP) broke through a crucial level on the weekly time frame, the multi-year downtrend line, indicating a bullish market. Some crypto enthusiasts are optimistic that the newly introduced Ripple Liquidity Hub could help drive Ripple (XRP) to new highs.
According to CoinMarketCap, Ripple (XRP) trades at $0.491152, a 1.28% price drop in the last 24 hours and 2.84% in the past 7 days.
Analysts Bullish On Sparklo (SPRK)
Despite bearish sentiments affecting the broader cryptocurrency market, analysts are optimistic that Sparklo, an alternative investment platform that has been attracting attention, could outperform the market.
The reason behind the optimistic outlook for Sparklo is its innovative platform. The metal trading platform has a feature called fractionalization, which allows people to purchase fractional NFTs of rare and precious metals such as gold, silver, and platinum.
As a result, people can own precious metals without buying the entire bar. According to Sparklo’s whitepaper, all NFTs minted on the platform will be supported by physical assets. Meanwhile, InterFi Network has audited Sparklo reserves, meaning the project is credible.
Moreover, Sparklo will lock its current liquidity and reserves for 100 years. The platform is currently in presale, with a price of $0.015. These factors have led analysts to predict that when Sparklo is launched, it could surpass the performance of the entire cryptocurrency market.
Find out more about the presale:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
