Attention! Cardano, XRP, and Litecoin Labeled ‘Zombie Projects’: Should Investors Worry and What Alternative Cryptos to Choose in 2024?

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The post Attention! Cardano, XRP, and Litecoin Labeled ‘Zombie Projects’: Should Investors Worry and What Alternative Cryptos to Choose in 2024? appeared first on Coinpedia Fintech News

In the fast-paced world of cryptocurrencies, some projects have been labelled as ‘zombie projects,’ raising concerns for investors. Cardano, XRP, and Litecoin are among the names currently under scrutiny. With the crypto bull run of 2024 in full swing, holders must evaluate which projects have the potential for success and longevity. This article delves into whether there’s a real cause for worry and provides insights on selecting robust crypto projects for the coming year.

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Cardano Crypto Price Fluctuations and Prediction

Cardano’s price is moving within a range of $0.43 to $0.51 after witnessing a weekly dip of 9.20%. The monthly performance shows a sharper decline of 31.63%, while the half-year trend indicates growth, up by 54.95%. Currently, ADA moves show a mix of impulsive and corrective patterns but tend towards correction as indicated by a potential slide from recent peaks.

Looking ahead, Cardano shows potential for recovery with cautious optimism, aiming for the resistance level of $0.55. If positive sentiment grows, a break above this could lead to testing the $0.63 level. However, investors should be aware of support at $0.40 and $0.32, which Cardano might test if downward pressures prevail. The ADA market shows room for both gains and retractions, weighed by market trends and investor confidence.

XRP Price Swings and Current Stance

Over the last week, XRP saw a small drop in value, down by 3.30%. Looking at a broader timeframe, it lost 19.52% over the past month and 15.36% in six months. It’s trading between $0.49 and $0.55 recently. The coin appears to be in a corrective phase, given the simple moving averages showing a steady level around $0.51 to $0.52, and a relative strength index of 42.55 suggests it’s not being overly bought or sold.

The price of XRP could move towards the nearest resistance at $0.59 if buying interest picks up. Breaking past this might open the door to $0.66. On the downside, if it falls, there’s support at $0.47 and stronger support at $0.40. With mixed signals from indicators like Stochastic at 31.13 and MACD at -0.00, the future path seems balanced with the potential for both gains and losses.

Litecoin’s Price Action and Trends

Litecoin (LTC) is currently trading between $81.06 and $87.75. In the last week, its price dipped by 0.76%. Over the past month, LTC saw a larger decrease of 23.44%. However, looking at the past six months, the price has gone up by 21.18%. The coin’s movements show that the trend is not clearly impulsive or corrective as it is experiencing both upward and downward pressures.

For LTC, there’s a mix of positive and negative indicators. It’s important to balance the excitement from the six-month rise with the recent monthly drop. The nearest resistance level is $91.53, while support lies at $78.14. If LTC can break past current resistance levels, we might see it aim for higher prices like $98.22. However, cautious traders might want to watch for any drops towards $71.45. Based on the indicators, like RSI at 45.70, LTC is not in an overbought or oversold zone just yet, opening room for varied movements.

Conclusion

Cardano, XRP, and Litecoin have been labelled as ‘zombie projects,’ which suggests they may not be the strongest contenders for growth in the short term. Investors looking to capitalize on the ongoing bull run might want to consider alternatives. One project that stands out for its potential is BlastUP. This project, part of the broader Blast ecosystem, has garnered attention due to its innovative concept. As investors navigate the bustling crypto markets of 2024, BlastUP is positioned as a compelling choice for those seeking to diversify their portfolio with a project poised for significant attention.

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