Crypto Price Volatility: XRP and Zcash Under Analyst Scrutiny
Crypto Price Volatility: XRP and Zcash Under Analyst Scrutiny
Recent analyses from Utoday highlight significant activity and diverse predictions for major cryptocurrencies XRP and Zcash (ZEC). While XRP is lauded by Sistine Research as the 'best-looking major' and 'fastest horse' following government news, it also faces reports of a 70% plummet in on-chain volume. Zcash, meanwhile, is under evaluation for potential upward movement, with traders anticipating a test of the $600 mark. Both assets are subjects of close price analysis.
XRP Faces Mixed Signals Amidst High Expectations
XRP has been a focal point for crypto market analysts, drawing both optimism and concern. Utoday reports indicate a speculative interest in XRP's potential to reach the $2.60 zone by week's end, fueled by bullish sentiment. Sistine Research echoes this positive outlook, designating XRP as the 'best-looking major' and highlighting its agility in response to government-related news. This suggests a strong fundamental or regulatory tailwind for the asset.
However, the asset is not without its challenges. Another report notes a significant 70% plummet in XRP's on-chain volume within a 24-hour period, a metric that typically signals decreased network activity or trading interest. Despite this, the article suggests XRP maintains a 'rapid pace on the market,' implying resilience or high speculative trading volume not captured by on-chain metrics alone.
Zcash (ZEC) Eyes Potential $600 Mark
Zcash (ZEC) is also under the microscope for its near-term price potential. Analysts are observing ZEC with a focus on whether it can test the $600 mark by the close of the week. This indicates a strong bullish expectation among traders for the privacy-focused cryptocurrency, suggesting underlying positive market momentum or specific catalysts expected to drive its price upward.