Ripple’s XRP The asset’s value has increased over the past week, rising by 4%. Another top crypto asset by market cap, Cardano ADA, has also risen this week, gaining almost 10%. Most of the cryptocurrency/altcoin market is recovering after a very rough August, so September is a month with great potential.
A market analyst sees XRP and ADA going hand in hand and says that the gains one makes could boost the other as well. Popular crypto expert STEPH foresees a significant rise in XRP if the price of Cardano ADA rises to $1.60. The analyst suggests that XRP would hit a target of $2.50 if Cardano hits $1.60 by the end of this year.
Such a correlation is possible because ADA and XRP have been making corresponding gains at the same time. For example, while XRP has risen by 7.38% in the past week, Cardano has risen by 8.28% in the same period. Both assets are following the path of Bitcoin, which most believe remains the top performer of all cryptocurrencies. If Bitcoin continues to make huge gains towards the end of 2024, Ripple XRP and Cardano ADA could also benefit.
How much does Cardano have to rise to pump Ripple XRP?
Also read: XRP at $0.55: Critical support level could trigger 14% rally
Cardano’s potential rise to $1.6 requires the token to rise by 337.51%. Meanwhile, XRP will see a comparable growth rate of 316.11% if its value rises from its current price of $0.6008 to $2.5. These are indeed extreme gains that may take more than 4 months to realize. However, both ADA and XRP have performed well in 2024. XRP is no longer held back by the shackles of the Ripple vs. SEC case, and the XRP Ledger is also performing well.
The first point that XRP needs to reach is the $1 mark, which it has not reached since 2021. To reach $1 from the current price level, an increase of almost 66% is needed. According to Changelly analysts, XRP will not cross the $1 mark until 2025 at the earliest. The platform predicts that the asset will reach a maximum price of $0.792 this year and an all-time high of $3.57 in 2028. However, this could change if Cardano ADA explodes as STEPH expects.
Cardano ADA
