Analyst predicts an XRP surge if Cardano (ADA) reclaims its price of $1.89, signaling a rising crypto market.
The crypto bull market is intensifying as the new week begins, with top altcoins like XRP and Cardano (ADA) showing impressive price gains.
Remarkably, both assets have successfully recaptured the long-lost $0.60 level.
XRP and Cardano Price Movement
XRP hit an intraday peak of $0.6160 on Sunday, which is approximately 25% up from the $0.50 level it traded last week.
Notably, XRP was last seen around the $0.61 mark six weeks ago.
Meanwhile, Cardano has rallied even stronger than XRP.
Today, ADA touched $0.6523 for the first time in seven months.
Notably, ADA’s comeback saw it surge by 51% from a low of $0.4327 to $0.6523 in one day.
Meanwhile, XRP’s intraday gain was 12%, rising from $0.5188 to $0.6160.
This price surge in both altcoins follows Bitcoin’s recent all-time high above $80,000, fueling the market’s growing intensity.
Until now, XRP and ADA had been laggards, showing minimal movement in the bull market, leading some critics to label both assets as “dead.”
However, the tide is now turning as both coins reclaim multi-week highs.
Now, market analysts believe there’s still more upside potential for these assets, despite the recent explosive gains, with some issuing bold price targets.
Outlook for Cardano
In a recent post on X, a market commentator with the username “Cryptohodlpod” shared his price targets for prominent assets like XRP, ADA, and Bitcoin.
- For Bitcoin, he proposed a target of $170K, which represents an additional $90K increase from its current price—a 112.5% gain.
- The analyst also suggested ADA could rally to $1.89.
He identified $1.89 as the most promising price target for Cardano this cycle.
While still far from ADA’s previous all-time high, this would represent an 83% gain from its current price of $0.65.
XRP Price if ADA Reaches $1.89
As for XRP, the analyst suggested that if ADA reaches $1.89, XRP could peak at $3.01 this cycle.
From the current price of $0.61, this would represent a massive 393% upside for XRP.
However, even with this surge, XRP would still be well below its all-time high of $3.84.
While this analyst has proposed a conservative outlook for both Cardano and XRP, other market watchers have issued more optimistic predictions.
For instance, analyst Ali Martinez has suggested that ADA could hit $7 to $10 in this cycle.
At the same time, several other analysts have suggested similar bullish targets for XRP, which they view as realistic given the current market conditions.
Read Daily Crypto News for more news and updates like this.
Follow us on CoinMarketCap.
Also Read: A New Study Values XRP Between $3,500 And $22,000
About The Author
Leave your thoughts below
Read Daily Crypto News- https://franknez.com/daily-crypto-news/ for more news and updates like this