Ripple’s XRP Neared $1, Can Cardano’s ADA Do the Same By 2024’s End?
2024-11-16

TL:DR;
XRP at $1
It seemsfueledby the growing speculations that the current SEC chair, Gary Gensler, will step down from his position even before President-elect Donald Trump’s inauguration in January of next year. This could be regarded as bullish for XRP, given the agency’s ongoing four-year-long legal battle against the company behind it.
Although there’s no real indication of who might replace Gensler at the helm of the securities regulator, the community speculates that it will be someone pro-crypto. Or, it won’t be worse for the industry than the current administration, at the very least.
As such, XRP’s value has shot up in the past week by over 70% and earlier today neared $1 for the first time in more than a year. Given its current price tag of $0.95, it seems inevitable that it will reach $1 at some point, most likely in the near future.
The popular AI chatbot – Perplexity – indicated that most analysts believe XRP will tap that level as soon as today. Moreover, it noted that the asset could continue its rally and add another 50% by the end of the year, should the demand for it, as well as the FOMO levels, remain the same or increase.
Recentreportssuggest that Ripple whales have been accumulating aggressively in recent weeks, pushing their overall XRP holdings to a 6.5-year high, meaning the demand is strong.What About ADA?
Cardano’s native token has also been on the run lately, perhaps due to Charles Hoskinson’s revelation that he and the team will be a part of a dedicated team to work with Trump’s administration in order to create a more friendly regulatory landscape around the industry. Additionally, he hinted this week about some sort of a partnership with Elon Musk’s SpaceX, which could be behind ADA’s 20% daily surge to over $0.7.
ADA now needs to rise by 38% to reach the $1 target. Usually, that would sound a lot, but not in the current crypto environment. Many assets have surged by that amount in a matter of days alone. ADA is no exception, as its price has gained almost 70% in the past week.
Nevertheless, Perplexity believes XRP has a higher chance of doing so, which is expected given the two assets’ current prices.
“While there has been some recent upward movement in ADA’s price, analysts are less optimistic about it reaching $1 by year-end compared to XRP, given its current price trajectory and required growth percentage.”