Ripple (XRP) Developments, Optimistic Cardano (ADA) Predictions, and More: Bits Recap Jan 10
2025-01-10
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TL;DR
What’s New Around Ripple?
Ripple, the company behind the popular cryptocurrency XRP, continues to make huge waves in the digital asset space. Last month, it officiallylauncheda stablecoin pegged 1:1 to the American dollar, called RLUSD.
The product triggered huge excitement across the community and received support from numerous leading crypto exchanges, such as Uphold, Bitso, Bullish, Moonpay, and others.
As CryptoPotatoreported, the latest to hop on the bandwagon was the European-based Bitstamp. The entity added RLUSD on the Ethereum network, describing it as “a robust solution designed for institutional-grade financial use cases.” The exact trading pairs available to users are RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP.
Earlier this week, Ripple’s president, Monica Long, said people should expect other well-known crypto exchanges to embrace the stablecoin “imminently.”ADA Forecasts
The cryptocurrency market experienced a substantial retreat in the past few days, with Cardano (ADA) among the worst-affected tokens. Its price dropped from $1.14 on January 7 to $0.88 on January 9. The sector recovered some of the losses in the last several hours and ADA pumping to its current $0.97 (per CoinGecko’s data).
Meanwhile, numerous analysts believe the asset is poised for a real bull run in the near future. Dan Gambardello claimed that ADA has “one of the most bullish weekly pattern setups in crypto,” which represents an “inverse head and shoulders with upward sloping neckline.” He assumed that a breakout to the upside could result in a price rally to as high as $7.
For their part, Altcoin Daily made bullish predictions about multiple cryptocurrencies, envisioning ADA’s price hitting $6.45 sometime in 2025.BTC’s Price Swings
Similar to ADA, the primary cryptocurrency has also witnessed enhanced volatility recently. Recall that BTC surpassed $102,000 on January 7 but retraced below $92,000 two days later. The bulls managed to recover some ground, and as of this writing, the asset’s price stands at over $94,500.
Despite the significant fluctuations, many analysts on X remain optimistic that 2025 will be a highly successful year for the cryptocurrency. One popular X user suggested that BTC could skyrocket to $210,000 before Valentine’s Day, while another envisioned a massive spike to as high as $500,000.
Those willing to explore additional price forecasts and check whether now is a good time to enter the ecosystem as investors can take a look at our dedicated video below: