The post Ripple’s XRP Neared $1, Can Cardano’s ADA Do the Same By 2024’s End? appeared on BitcoinEthereumNews.com.

TL:DR; The two best performers from the larger-cap alts over the past few days have been Ripple’s XRP and Cardano’s ADA. Perplexity analyzes each token’s chance to reclaim the coveted $1 price tag by the end of the year. XRP at $1 It seems fueled by the growing speculations that the current SEC chair, Gary Gensler, will step down from his position even before President-elect Donald Trump’s inauguration in January of next year. This could be regarded as bullish for XRP, given the agency’s ongoing four-year-long legal battle against the company behind it. Although there’s no real indication of who might replace Gensler at the helm of the securities regulator, the community speculates that it will be someone pro-crypto. Or, it won’t be worse for the industry than the current administration, at the very least. As such, XRP’s value has shot up in the past week by over 70% and earlier today neared $1 for the first time in more than a year. Given its current price tag of $0.95, it seems inevitable that it will reach $1 at some point, most likely in the near future. The popular AI chatbot – Perplexity – indicated that most analysts believe XRP will tap that level as soon as today. Moreover, it noted that the asset could continue its rally and add another 50% by the end of the year, should the demand for it, as well as the FOMO levels, remain the same or increase. Recent reports suggest that Ripple whales have been accumulating aggressively in recent weeks, pushing their overall XRP holdings to a 6.5-year high, meaning the demand is strong. What About ADA? Cardano’s native token has also been on the run lately, perhaps due to Charles Hoskinson’s revelation that he and the team will be a part of…

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Filed under: News - @ November 16, 2024 7:19 am