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Crypto analyst ChartNerd has predicted that the XRP price could reach double digits in this market cycle. The analyst earlier alluded to the Fibonacci levels in previous cycles as the reason why the altcoin can record such a parabolic surge in this market cycle. 

XRP Price Eyes Rally To $27 In This Cycle

In an X post, ChartNerd declared that an XRP price rally to between $8 and $27 is still loading. He made this statement while alluding to a previous analysis, in which he noted that the altcoin met both of its 1.272 and 1.1618 Fibonacci levels. The analyst then remarked that this cycle’s Fib 1.272 and 1.618 levels are $8.40 and $27. 

Crypto analyst Egrag Crypto has also predicted that the XRP price can rally to as high as $27 in this market cycle. The analyst had previously highlighted several reasons why the altcoin can reach this target, including alluding to the 2017 market cycle when XRP recorded a legendary gain of around 63,000%. The analyst is confident that the altcoin can replicate this run. 

Related Reading: XRP Price Enters Accumulation Phase – Why $2.08 Must Hold Or Risk A Crash

Meanwhile, in one of his most recent analyses, Egrag Crypto stated that the signal points to a target of $10, $18, and $27 for the XRP price. His accompanying chart showed that the altcoin can reach this target in the second half of this year. Meanwhile, the analyst also recently highlighted a bullish candle formation, which showed that XRP can at least reach $22. 

Crypto analyst Dark Defender predicted that the XRP price is about to witness an upcoming surge to $23. He noted that the altcoin is forming another Wave Structure in the weekly timeframe, creating the potential rally to this target. The analyst added that this new wave structure aligns with the previous targets and historical pattern in November 2024. 

What To Expect In The Short Term

In an X post, Dark Defender provided insights into what to expect from the XRP price action in the short term. The analyst stated that, on the weekly chart, XRP is moving towards the primary resistance level at around $2.40. The support level to watch on this move is $2.2222, while $5.85 is the target as the altcoin eyes a rally to the upside. 

Commenting on the short-term move for the XRP price, Egrag Crypto stated that XRP has to close above $2.30, $2.35, $2.36, $2.45, and $2.65 to have a bullish breakout. The analyst claimed that $2.65 is the ‘Go-Go’ signal as the altcoin eyes a rally to a new all-time high (ATH). 

At the time of writing, the XRP price is trading at around $2.12, down almost 3% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

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JPMorgan Chase just issued a market update, warning sentiment and macroeconomic data do not support a sustained recovery for stocks.

Mislav Matejka, the head of global and European equity strategy at JPMorgan, says investors appear to be overly bullish on US equities despite elevated recession risks and trade uncertainty, reports Investing.com.

Last month, JPMorgan raised the odds of a global recession from 40% to 60% amid President Trump’s trade war.

Matejka says that, unlike in the past, US stocks are no longer a “good place to hide in” during an economic downturn.

“The actual recession could still be avoided, but if one were to come through, the views by many that it is already in the price could prove to be too optimistic.”

Matejka supports his bearish stance on the S&P 500 by pointing out that US equities are expensive, trading at 21x forward earnings, while growth expectations are too high to account for a potential recession. He also warns the Fed is poised to hold interest rates steady amid mounting inflation expectations, even as the economy shows signs of cracking.

Billionaire Paul Tudor Jones appears to echo JPMorgan’s outlook. In a new CNBC interview, Tudor Jones warns that Trump’s tariffs and a hawkish Fed could drag the stock market below its 2025 low of 4,835 points.

“For me, it’s pretty clear. You have Trump who’s locked in on tariffs. You have the Fed who’s locked in on not cutting rates. That’s not good for the stock market. We’ll probably go down to new lows…

There are taxes, like the largest tax increase since the [1960s]. So you can take 2 to 3% off growth and then you got the Fed who’s, unless they got really dovish and really, really cut, you’re probably going to new lows. And then when we’re at new lows, the hard data will start to follow and it will probably create the Fed to move, create Trump to move and then we’ll get some kind of rally after.”

As of Friday’s close, the S&P 500 is trading at 5,659.

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Traders on the Kalshi prediction market place the odds of a US recession in 2025 at 61%, following the sweeping tariff order signed by President Donald Trump on April 2.

Kalshi uses the standard criteria of a recession, two business quarters of negative gross domestic product (GDP) growth, as reported by the United States Department of Commerce.

Odds of a US recession on the prediction platform have nearly doubled since March 20 and mirror the current 2025 US recession odds on Polymarket, which traders on the platform currently place at 60%.

The macroeconomic outlook for 2025 deteriorated rapidly following US President Donald Trump’s sweeping tariff order and the ensuing sell-off in capital markets, sparking fears of a prolonged bear market.

Related: Bitcoin bulls defend $80K support as ‘World War 3 of trade wars’ crushes US stocks

Trump’s executive order throws markets in disarray

The US President’s executive order established a 10% baseline tariff rate for all countries and different “reciprocal” tariff rates on trading partners with existing tariffs on US import goods.

Trump’s announcement triggered an immediate stock market sell-off, wiping away over $5 trillion in shareholder value in a matter of days.

Fears of a recession continue to grow as market analysts warn of a potentially protracted trade war that negatively impacts global markets and suppresses risk asset prices, including cryptocurrencies.

Meanwhile, President Trump has expressed confidence that the tariffs will strengthen the US economy long-term and correct any trade imbalances.

“The markets are going to boom,” the President said on April 3, describing the current market sell-off as an expected part of the process.

Asset manager Anthony Pompliano recently speculated that President Trump deliberately crashed markets to bring down interest rates.

Pompliano cited the reduction in 10-year US Treasury bonds as evidence that the President’s strategy of forcing a recession to impact rates is working.

Interest rates on 10-year US Treasury bonds declined from approximately 4.66% in January 2025 to just 4.00% on April 5. President Trump is also pressuring Federal Reserve chairman Jerome Powell to lower short-term interest rates.

“This would be a perfect time for Fed chairman Jerome Powell to cut interest rates,” Trump wrote in an April 4 Truth Social post.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

]]> https://earlybirdsinvest.com/kalshi-traders-place-the-odds-of-us-recession-in-2025-at-over-61/feed/ 0 29249 https://earlybirdsinvest.com/chart-is-still-broken-crypto-analyst-predicts-sustained-downtrend-for-altcoins-until-this-takes-place/ https://earlybirdsinvest.com/chart-is-still-broken-crypto-analyst-predicts-sustained-downtrend-for-altcoins-until-this-takes-place/#respond Thu, 27 Mar 2025 02:33:35 +0000 https://earlybirdsinvest.com/chart-is-still-broken-crypto-analyst-predicts-sustained-downtrend-for-altcoins-until-this-takes-place/

A seasoned crypto trader is warning that the current bounce in the altcoin market will likely be short-lived.

Pseudonymous analyst The Flow Horse tells his 266,500 followers on the social media platform X that he thinks crypto is still bearish and the latest rally will probably lead to another leg down.

According to the analyst, the current bounce has not changed the bearish market structure of crypto.

“Bearish still on the high time frame until proven otherwise.

I can’t see any reason why this isn’t a relief rally and markets won’t continue to suck the next few months.

Chart is still broken.”

Elaborating on his bearish stance on crypto, the trader says on the instant messaging platform Telegram that the downtrend will likely persist unless Bitcoin (BTC) flips a key price area into support.

“I think we are at the part where the correction can be, as I said the other day, one that is more through time than through price.

I will be looking at how FARTCOIN, HYPE, PEPE, ENA and BERA continue to trade.

Being that it is a Bitcoin dominance macro trend, there is no reason to assume that changes, and any success in alts is going to come down to if BTC can turn this $90,000-$93,000 level into support.”

At time of writing, Bitcoin is trading for $87,813.

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Generated Image: MIdjourney

Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its total market cap would have to be around $111 billion, which seems rather difficult with institutional investors pouring billions into the asset.

SOL’s recent surge has been on the back of substantial on-chain activity. The ongoing hype for the blockchain’s speedy transactions and cheap fees has buoyed SOL’s on-chain activity. Additionally, the crypto market has been in the green over the past few weeks, boosted by a weaker US dollar and the potential deadline for the first approval of a spot Bitcoin ETF on January 10, 2024.

Solana Price Outlook

Solana price has been on a strong bullish trajectory over the past few weeks, despite facing a strong rejection at the important resistance level of $120. The digital asset remains above the 50-day and 200-day exponential moving averages and the 100-day and 200-day simple moving averages. Its Relative Strength Index (RSI) stands at 74, indicating that the asset is overbought due to its recent rally.

As such, the market would have to cool down before resuming its rally. Furthermore, its bullish momentum is waning right now, characterized by the receding green bars of the Moving Average Convergence Divergence (MACD) indicator.

Therefore, Solana price could experience a correction to $100 or lower until the market cools down, after which it would gather the strength to resume its rally. On the other hand, if the bulls continue to charge the altcoin, Solana could flip the immediate resistance at $120, adding confidence to its current market position.

SOL Price Chart