IGI Markets

Arcane Research Claims that Ripple and Cardano will Fall Out of Top 10 in 2022

Arcane Research recently shared its explosive cryptocurrency forecast for the upcoming year. The report has been making circles in the cryptocurrency community on social media platforms. Among other bold predictions made by Arcane Research is the bearish broadcast about the Cardano and Ripple native cryptocurrencies.

The report titled The Weekly Update claims that XRP and ADA, which have gained the reputation of being controversial altcoins this year, will undergo massive losses next year. According to the Arcane Research report, both altcoins are going to exit the top 10 ranking on the cryptocurrency leaderboard.

Cardano blockchain is currently the 7th largest cryptocurrency in the world, with a market cap of $47 billion. There was a time when ADA was ranked in the top 3 altcoins. However, the spot was later claimed by Binance Smart Chain native token BNN and stablecoin Tether USDT. Another competitor pushing down ADA is the SOL token native to the Solana network.

As per on-chain data aggregators, ADA has lost 35.4% during the last quarter of 2021. On the other hand, Ripple native token XRP also suffered from major losses after the SEC lawsuit. Up until 2020, XRP was also ranked among the top 3 altcoins by market cap.

Cardano founder Charles Hoskinson pointed out recently that 2022 will be a big year for the DeFi platforms. The new roadmap shared by the company has also decided to take on various decentralized projects on the network. In the same manner, Ripple Labs has been making new ventures in Eastern territories to salvage its former glory.

Despite the passing of another year, the case filed by SEC on Ripple Labs executives has not reached a verdict yet. Another shocking premonition shared by Arcane Research is that meme coins are going to fall out of favor next year. However, experts at Arcane Research also added that in 2022 Bitcoin will once again outperform the stock market.