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Terra(LUNA) Price Possessed to be a Big Threat to Cardano & XRP, Will it Dethrone Both?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 23, 2021

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Highlights

    Terra price in recent times is manifesting extreme strength to go parabolic in order to achieve a 3-digit figure at the earliest

    On the other hand, the silent trend of Cardano and XRP may cost both the assets losing their current positions or also the position within the top 10

Terra(LUNA) in recent times is roaring like a giant trying very hard to surpass the popular tokens and gain entry into the top 5 at the earliest. And hence in the due course, some of the well-settle assets may face extreme danger as if they do not perform now, may end up being out of the top 10 very soon. As LUNA price is just an inch close to render yet another magnificent rally.

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Terra (LUNA) Price Analysis

Currently, the LUNA price is experiencing a slight pullback which may be termed as a minor correction. Yet the technicals suggest the asset may overcome these constraints to hit its current ATH close to $100 very soon. However, the rally is expected to continue beyond $100 to surge another 10% to 20% before closing the trade for the year.

The bullish pennant of the LUNA price indicates the possibility of the asset going higher once the pattern is broken. The immediate target is around $98.9 while the target for the EOY is at $110. While Terra(LUNA) appears to be pre-programmed about its next upcoming rally, Cardano & XRP are among the top 10 cryptos whose positions may be at stake. 

Cardano price showcased the possibility of a notable rebound a couple of days before. However, it yet again consolidating within the $1.37 and $1.31 ranges, which is yet again raising concerns over the rally. On the other hand, XRP, despite showcasing a decent uptrend, is still struggling to hit the $1 mark. Moreover, the asset is still outpowered by the bears as the selling volume has swelled much more than the buying. 

The market cap of both ADA price & XRP price are very close to each other while LUNA’s is just an inch away from these levels. However, XRP & ADA are more scarce than LUNA which only might save these assets to raise the value of the existing assets. And eventually, secure their levels within the top 10. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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