Sheldon the sniper expects a sharp rise for Cardano, similar to the recent gains of XRP.
The price of Cardano could reach $4.68 if it replicates XRP's rising pattern, which had a minimum increase of 500%.
The second phase of the altcoin season awaits Bitcoin to reach its all-time high of $123,091.
Sheldon the sniper, host of the Crypto Banter podcast, predicted that Cardano will see a significant price increase comparable to the recent surge in XRP.
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In a live broadcast, the market commentator expressed optimism about ADA's potential, noting that investors may witness a 'new explosion for Cardano' resembling patterns seen in other cryptocurrencies.
Sheldon's optimistic forecasts come at a time when he praised the Cardano community, highlighting the potential for the native currency to mimic XRP's trajectory. His analysis points to similarities between the two projects' positions in the market, and the possibility of massive price fluctuations during favorable market conditions.
XRP achieves record performance with gains of 530%
The price movement of XRP following Donald Trump's re-election in November 2024 created a model for massive increases in the cryptocurrency market.
The price of the currency rose from $0.50 to a multi-year high of $3.34 in January, marking a 568% increase as regulatory uncertainty eased under the new leadership of the U.S. Securities and Exchange Commission.
The price of the currency reached $3.65 during a broad market rally last month, but it could not maintain its momentum above its previous all-time high of $3.84. XRP is currently trading at around $3.15, maintaining gains of 530% from pre-election levels, despite recent consolidations.
XRP's performance was significantly influenced by the settlement of the U.S. Securities and Exchange Commission (SEC) lawsuit, which had depressed its price for years. The regulatory clarity provided by Trump's administration changes allowed for a return of institutional adoption and individual investor confidence.
Cardano lags behind XRP despite electoral support
While Cardano has made gains since the elections, its performance still lags behind the massive growth that XRP achieved during the same period. ADA was trading at around $0.35 before the November elections, reaching a multi-year high of $1.31 in early December, marking a 274% increase.
Since then, the currency has retreated to its current levels at around $0.78, where it continues to consolidate. If ADA follows in the footsteps of XRP with a growth of no less than 500%, Sheldon's analysis suggests the possibility of prices reaching $4.68 from current trading levels.
Cardano is benefiting from ongoing developments, including the launch of Midnight on its blockchain, which its founder Charles Hoskinson believes will propel the ecosystem forward. These technical developments could provide fundamental support for continued price increases.
Sheldon expects the second phase of the altcoin season in 2025 to begin once Bitcoin surpasses its all-time high of $123,091. This breakout is likely to rekindle interest in alternative cryptocurrencies, as investors seek higher returns.
The analyst's framework indicates that Bitcoin's performance acts as a catalyst for broader cryptocurrency market movements. Historical patterns show that altcoins often outperform Bitcoin at specific market stages following major breakouts.