Ripple’s XRP asset has picked up the pace in price over the past week, rising 4%. Another top crypto asset by market cap, Cardano ADA, is also up this week, rising nearly 10%. Most of the cryptocurrency/altcoin market is on the mend after a very rough August, posing September as a month of great potential.
One market analyst is putting XRP and ADA hand-in-hand, saying that one reaping huge profits could also pump the other. Popular crypto expert STEPH envisions XRP staging a significant rally if the Cardano ADA’s price soars to $1.60. The analyst suggests that XRP would reach a target of $2.50 if Cardano hits $1.60 by the end of this year.
Such a correlation is possible, as ADA and XRP have had corresponding profits at the same time. For instance, while XRP has surged 7.38% in the past week, Cardano is up 8.28% in the same period. Both of those assets follow the path of Bitcoin, which remains the leader of all cryptocurrencies according to most. If Bitcoin proceeds to have huge gains towards the end of 2024, Ripple XRP and Cardano ADA could also reap the rewards.
How Much Does Cardano Need to Surge To Pump Ripple XRP?
Also Read: XRP at $0.55: Critical Support Level Could Trigger 14% Rally
Cardano’s potential surge to $1.6 requires the token to surge 337.51%. Meanwhile, XRP will witness a comparable growth rate of 316.11% if its value soars to $2.5 from its current price of $0.6008. These are indeed extreme gains that may take more than 4 months to realize. However, both ADA and XRP have performed well in 2024. XRP no longer has shackles from the Ripple vs SEC case holding it back, and the XRP Ledger is performing well also.
The first point that XRP must hit is the $1 mark, which it hasn’t reached since 2021. Hitting $1 from current price levels will require a rally of nearly 66%. According to Changelly analysts, XRP won’t breach the $1 mark until at least 2025. The platform predicts the asset will hit a maximum price of $0.792 this year and an all-time high of $3.57 in 2028. On the other hand, this may change if Cardano ADA explodes like STEPH envisions.
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