Ripple’s native token XRP doubled in price last week and soared nearly 105% in the last seven days and the other leading altcoin, Cardano’s ADA, has also kicked off a rally by surging 108% in the last 14 days. It went from a low of $0.35 in October to a high of $0.76 in November. It sustainably scaled up in the indices, generating stellar profits for investors this month.
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However, despite doubling in price, Cardano’s ADA failed to climb above the $1 mark like Ripple’s XRP did. Cardano’s native token is hovering around the $0.74 level, and bulls are waiting for the altcoin to breach $1. In this article, we will highlight the tentative timeline for when ADA can hit the $1 price target.
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After XRP, Here’s When Cardano’s ADA Will Reach $1
Leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Cardano’s ADA. According to the price prediction, ADA could reach a high of $1.43 in December 2024. Its price could hover between $0.98 to $1.26 next month with a maximum high of $1.43.
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That’s an uptick and return on investment (ROI) of approximately 91% from its current price of $0.74. Therefore, similar to Ripple’s XRP, ADA could nearly double in price again in the next 45 days. An investment of $1,000 could turn into $1,900 if the forecast turns out to be accurate.
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“Cardano is predicted to finish the year by changing hands in a trading channel between $ 0.948425 and $ 1.430987. In other words, investors would generate a potential profit of 91.43% if ADA follows the prediction,” read the forecast.
Leading altcoins like XRP and ADA are rallying in the indices and moving in tandem with Bitcoin prices. BTC touched an all-time high of $93,477 this month and is gearing up toward the $100,000 milestone. When that happens, both Ripple’s XRP and Cardano’s ADA could reach newer heights in the charts.
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