For many months, XRP was considered the most frustrating altcoin to own in this bull run. However, the narrative has shifted significantly in recent weeks.
XRP’s price surged to over $0.6 as investors eagerly await updates on the Ripple vs SEC case.
Just a few weeks ago, ADA and XRP were trading neck and neck in the $0.4-$0.5 range.
Today, the ADA price has dipped below $0.4. So, what’s really going on with Cardano?
Anticipation Builds for Cardano Upgrades
Influencer Aleksandra Huk, boasting over 200k followers on X, tweeted that Cardano is gearing up for major upgrades. The Chang hard fork is slated for the end of this month.
She boldly predicts that “ADA will be on fire”.
Cardano is preparing for one of its most significant upgrades. The Chang hard fork is scheduled to take place at the end of July. $ADA will be on fire!
— Aleksandra Huk (@HukAleksandra) July 16, 2024
However, we’ve yet to see that fire ignite. In fact, the ADA price has taken a hit, dropping over 11% this week.
Despite the price dip, some analysts remain bullish on Cardano’s prospects. Analyst “Lucid”, with nearly 40k followers, announced today that he’s increased his ADA holdings.
He emphasized Cardano’s technological strengths, stating, “Cardano has the highest MAV in all of crypto and is by far the most secure! Now it’s scaling! Cardano scaling will increase TPS by 100x while maintaining the largest MAV in the industry!”
I just Bought more $ADA!Fading Cardano is Not a Risk I am willing to take! Cardano has the Highest MAV in all of Crypto & is by far the Most Secure! Now it is Scaling!Cardano Scaling will increase TPS by 100x while maintaining the Largest MAV in the Industry!$ADA
— Lucid (@LucidCiC) July 24, 2024
Adding to the excitement, speculation is brewing on Twitter about potential ADA ETFs. TapTools even tweeted about this possibility, further fueling the conversation around Cardano’s future.
While the current price action may not reflect it, there’s a palpable sense of optimism surrounding Cardano’s technological advancements and potential market developments. As with all cryptocurrencies, time will tell whether these positive sentiments translate into price appreciation for ADA holders.
Read also: Bitcoin Plunges Past $65K: Analyst Maps Key Buy Zones and Bullish Indicators
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