#ADAAnalysis
Cardano to Become a Top 5 Coin Amid Relationship with Bitcoin and XRP: Top Analyst
A top analyst has identified a recent relationship Cardano has with two of the top three cryptocurrencies as a catalyst for its growth.
Specifically, Tim Warren, an analyst on the Investing Broz show, has tipped Cardano to thrive off its new bromance with XRP and Bitcoin. Speaking on the YouTube podcast on June 3, he insisted that ADA could be one of the biggest movers in the altcoin season, potentially becoming a top-five coin.
Meanwhile, the commentary follows Cardano’s show of strength, joining a broader market trend. ADA, like most other cryptocurrencies, dropped amid the feud between Donald Trump and Elon Musk but has rebounded 7% from its lows of $0.619 on Thursday.
Cardano to Explode with Recent Partnerships
Cardano and its founder, Charles Hoskinson, have been strategic with their recent activities. The team behind the layer 1 network is not just building; it is forming strategic relationships with other chains.
Among them are Bitcoin and Ripple. Hoskinson has turned things around with the XRP community and has recently allied with Ripple, a fintech company and a major contributor to the XRP ecosystem.
Cardano to $1 in June:
For context, Warren highlighted that Cardano is one of the few coins still under a buy signal on the weekly chart, presenting a favorable buying opportunity. However, he stressed that bullish momentum, sparked by positive money flows and reversal signals, is emerging on the Cardano chart.
Furthermore, he highlighted Cardano’s rebound from the 0.50 Fibonacci level at $0.66, indicating strong bullish momentum. While ADA dropped below the level on Thursday, it has reclaimed the Fibonacci extension, reestablishing confidence that prices could escalate from here.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion.