TL;DR
- Cardano (ADA) has surged 120% in two weeks, crossing $0.80. Analysts predict further gains.
- Speculation about a Cardano/Ripple alliance has fueled excitement, though no official announcement has been made yet.
ADA Keeps Pumping
Some of the leading altcoins, including Solana (SOL), Binance Coin (BNB), Ripple (XRP), and more, have registered minor losses in the past 24 hours. However, this is not the case with Cardano (ADA), which stands as the top-performing top 20 cryptocurrency today (November 20).
At the time of this writing, its price is above $0.80, the highest level witnessed since May 2022. The asset has been up a whopping 120% in the last two weeks, and its market capitalization is nearing $30 billion.
Many industry participants think ADA might record much more impressive gains during the ongoing bull cycle. The X user CryptosRus claimed that the token’s valuation could skyrocket to $6 by July-September next year if it follows “a similar pattern to last cycle.”
Crypto King also noted the resurgence, reminding that most people called Cardano “a scam” when ADA was worth around $0.30 earlier this year. The analyst said the price has soared by 2.5x since then, claiming it is poised for a further rally.
Other analysts envisioning a bright future for Cardano’s native token include FLASH and Lucid. The former believes it is “approaching the next level” above $1, while the latter outlined some important factors signaling that it is “about to go Interstellar.”
Some examples include Cardano’s high Minimum Attack Vector (MAV) and the fact that there are no scheduled token unlocks (which increase the circulating supply and might lead to a price drop).
We’ve recently released a video with some of the major developments surrounding Cardano. Check it out here:
Further Rise Under This Condition?
Crypto X has recently been rampant with rumors that ADA’s price may experience a significant bull run if Cardano makes a strategic alliance with Ripple.
The speculation was fueled after Cardano’s founder, Charles Hoskinson, held discussions with top executives from the other entity. He had conversations with Ripple’s CEO, Brad Garlinghouse, and the company’s CTO, David Schwartz.
Hoskinson recently indicated that he will spend some of his time helping the Donald Trump administration establish a comprehensive regulatory environment for the cryptocurrency industry. For his part, Garlinghouse was rumored to have met the now-elect American president or someone from his cabinet to discuss possible reforms involving the digital asset sector. As such, the two execs might have touched upon that topic.
However, the exact point of discussion remains unknown, and there has been no official announcement about a Cardano/Ripple partnership. It will be interesting to follow the updates on the matter and see ADA’s price reaction if the two entities decide to shake hands.
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