The cryptocurrency market has been experiencing a prolonged downturn, with major assets like Bitcoin, XRP, and Cardano hitting substantial lows. However, recent market metrics from Santiment and insights from analysts suggest a potential rebound for XRP and Cardano.

Santiment, a blockchain analytics firm, highlighted the Market Value to Realized Value (MVRV) ratio, a metric used to assess market sentiment and potential price movement. The 30-day MVRV ratio compares the current price of an asset to the average price at which it was acquired over the last 30 days. According to Santiment, a lower MVRV ratio implies that the asset is undervalued, suggesting a higher likelihood of a price recovery in the short term.

XRP and Cardano have been identified as undervalued assets, with XRP's 30-day MVRV standing at -3.5% and Cardano's at -12.6%. This suggests a strong potential for a rebound. Market analysts have also echoed Santiment's optimistic view, with Cryptobilbuwoo predicting a potential rise for XRP to $271 based on technical analysis. Sebastian, another market expert, pointed out that Cardano's recent price drop presents a significant buying opportunity, advising investors to employ a Dollar-Cost Averaging (DCA) strategy to mitigate market volatility.

The relative strength index (RSI) for Cardano slumped to 28.8, confirming that the asset is undervalued. XRP's RSI stands at 44, also indicating undervaluation. These metrics, combined with Santiment's bullish outlook, suggest that XRP and Cardano are poised for a significant rebound.

It is important to note that the cryptocurrency market is highly volatile, and investors should conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.