Ripple's XRP hit a seven-year high this week, rising nearly 45% in just seven days and taking the spotlight.
In particular, the third-largest crypto asset by market capitalization rose to just over $190 billion on Thursday, after a series of positive developments in a legal battle with the U. S. Securities and Exchange Commission, reaching $3. THE CRYPTOCURRENCY'S MARKET CAPITALIZATION HAS RISEN TO JUST OVER $190 BILLION.
XRP's explosive growth is also attributed to a clearer regulatory framework and renewed #optimism about the growing number of institutional users of RippleNet; open interest in #XRP futures reached a record $7.7 billion, reflecting increased trading activity.
After XRP's stunning rise, some analysts speculate that #Cardano (ADA) will be the next to make a similar breakthrough. On Thursday, prominent analyst CryptoBullet noted a striking similarity between Cardano's current price performance and XRP's recent bullish pattern.
#ADA seems to be following XRP as it is drawing the same bullish pennant as XRP, CryptoBullet wrote on Twitter. wrote on Twitter, suggesting that ADA could rise more than 400% in the coming weeks if this pattern reaches its goal of
mature movement Another expert, World of Charts, agreed, noting that ADA is currently
Elsewhere, analyst "Cardano Hieronymus" suggested that ADA's price movement could reflect its performance in 2021, as the current formation seems to follow the exact pennant pattern of that time. He suggested that it may reflect performance in 2021. Specifically, $ADA went from $0.18 to $3.10 in 2021, achieving an impressive gain of 1,622%.
In addition to technical indicators, ADA's bullish momentum is supported by several key fundamental factors.
Specifically, the cryptocurrency's market capitalization recently surpassed $1 billion in a single day, with its price hitting the $ 1.11 mark.
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