Both Cardano (ADA) and Ripple’s XRP are making waves in the crypto market. ADA remains above $1, gaining over 50% in the past week, while XRP trades at $1.46. The big question: which of these altcoins will reach $2 first?
SEC News Fuels Optimism
The crypto market received a boost after SEC Chair Gary Gensler announced his resignation. This development is especially bullish for ADA, as Gensler’s tenure often saw cryptocurrencies like Cardano labeled as securities.
Cardano Price Outlook
Breaking Key Levels
Cardano recently broke through a critical 50% Fibonacci retracement level, surpassing $0.83. Analysts are now watching its next targets closely.
Major Resistance Zones
- Golden Pocket Zone ($1.13–$1.22): This area is a key resistance level where price action might pause or retrace.
- 78.6% Fibonacci Target ($1.76): If ADA surpasses the Golden Pocket, it could climb to $1.76, setting the stage for a push toward $2.
XRP Gains Momentum
Ripple’s XRP has also performed well, bolstered by overall bullish sentiment in the market. Trading at $1.46, XRP is closing in on its $2 target.
Historical Trends Favor Cardano
Cardano’s past price movements suggest significant potential. In similar chart positions, ADA has historically outperformed Bitcoin, delivering gains of up to 400%. If this trend continues, ADA could see massive growth, possibly extending into 2025.
Conclusion
Both Cardano and XRP have strong momentum, but ADA’s breakout above key Fibonacci levels could give it the edge. With market sentiment shifting, the race to $2 is heating up.
