The price of ADA has remained in a tight range over the past few weeks despite some catalysts. One of them is the Glacier airdrop, where its holders are receiving millions of NIGHT tokens.
Another key factor that could influence the price of Cardano is a statement from the weekend by Charles Hoskinson, its founder. In the video, he claimed to be in talks with Ripple for a mutually beneficial collaboration.
One of the potential agreements would be for Ripple to mint its stablecoin RLUSD on Cardano. This collaboration would be crucial, as RLUSD is one of the fastest-growing stablecoins, with assets that have risen from zero in December to 686 million dollars currently.
Most importantly, Cardano has struggled to attract significant stablecoin activity to its ecosystem. Data from DeFi Llama shows that its stablecoin supply is only 37 million dollars, with the most important tokens being Moneta (USDM), Anzens (USDA), and iUSD. Its supply of USDC and USDT is just 4.25 million and 1 million dollars, respectively.
Hoskinson also mentioned that his conversation with Ripple has focused on Bitcoin, which his team has been working on for years. A potential deal would allow Cardano to act as a central hub in Bitcoin DeFi, with XRP playing an important role.
In another statement, Hoskinson suggested creating teams from Cardano, Near Protocol, and XRP to collaborate on long-term projects.
Still, Hoskinson's statement should be taken with caution. Previously, he hinted at collaborations with Chainlink and SpaceX that did not materialize.