The crypto market catches its breath post Bitcoin's new $126,000 record, with promising technical signals from three major altcoins. XRP, Cardano, and Pepe are in a consolidation phase, hinting at a potential significant rebound soon. Detailed analysis of oversold opportunities on these assets awaits.
XRP has pulled back to $2.87 on October 8, recording a 3% decline over 24 hours and a 2% drop over the week. This correction does not undermine the bullish thesis for the token; quite the contrary. The upcoming launch of several XRP ETFs in the United States represents a major catalyst for the crypto market in the weeks ahead.
These regulated investment vehicles will channel massive institutional flows into XRP, similar to what occurred with Bitcoin ETFs and Ethereum. The impact could prove even more spectacular given XRP’s relatively modest market capitalization compared to the two crypto market leaders.
On the technical side, the RSI and MACD have been evolving in neutral territory since late July, oscillating primarily in negative territory. This prolonged compression creates conditions for an imminent volatility expansion. Analysts position a first target at $3.50 once the initial ETFs launch, followed by a target of $5 by year-end. In the longer term, the psychological level of $10 remains in sight.
Ripple’s expansion through strategic acquisitions and banking partnerships further strengthens the investment case. The growth in cross-border payments using Ripple technology directly benefits the valuation of XRP.
Cardano (ADA) shows a performance of -4% over 24 hours, with a current price of $0.8248 marking a 2% decline over the past month. These figures, however, mask a discreet accumulation in the oversold zone that could explode soon.
ADA’s inclusion in Grayscale’s multi-crypto ETF represents a significant development. Even though Cardano doesn’t benefit from as many dedicated ETFs as XRP or Solana, this institutional positioning in a major vehicle should generate sustained demand.
The chart reveals a pennant formation converging toward a critical apex. Technical indicators have remained compressed for several months, a typical situation before a significant range extension. The direction of the breakout will determine the trend for the coming weeks, but fundamentals suggest an upward movement.
As a major layer 1 blockchain with a constantly developing DeFi ecosystem, Cardano maintains solid arguments. Crossing the psychological threshold of $1 appears realistic in the coming weeks, before a potential surge toward $4 by December if the bullish momentum intensifies.
Pepe (PEPE) is among the day’s biggest losers with a 6% decline, displaying a price of $0.000009353. The memecoin also records an 8% drop over the month and 3% over the year, a disappointing performance in an overall bullish market.
This relative weakness raises questions about the sustainability of enthusiasm for this meme crypto. The chart shows evolution in a descending channel since mid-May, without any real significant breakout attempt.
However, several technical signals support a rebound. The RSI and MACD are evolving in deep oversold territory, a classic configuration before a reversal. More significantly, on-chain activity reveals discreet accumulation by whale crypto wallets in recent weeks. These institutional portfolios or large holders typically position themselves before major movements.
The trading volume remains modest at $693 million, but this situation could quickly change with the launch of the first wave of multi-altcoin ETFs. In this favorable scenario, PEPE could target $0.00002 by November, then approach $0.00005 by year-end.
Signals for PEPE show a silent accumulation phase by whales, often the prelude to a marked bullish movement. Seize this unique opportunity via Bitget with a limited bonus available.
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