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Why XRP and Cardano are soaring – this low-cap utility token approaches $2 million in ICO
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Two of the Top 10 cryptocurrencies performed strongly in the month of October. Cardano (ADA) recently crossed the $1.00 mark and is up 206%appreciation five times higher than that of Bitcoin (BTC).
Those who also appreciated strongly were XRP, the Ripple network token, which gained 299%. In practice, the price also saw significant action and its gains outperformed BTC by more than 700%.
Amid these developments, a new project arrived with pre-sales in full swing. This is BEST, the Best Wallet token, which is attracting increasing interest. The project has already raised almost US$2 million, with analysts projecting that due to its upside potential it could exceed 6,000%.
Cardano’s recent rise beyond the $1.00 barrier marks an important achievement, especially since the cryptocurrency hasn’t reached this mark since 2021. Currently, ADA consolidated above $1.10 after suffering a small correction.
ADA consolidates at $1.00
For cryptocurrency analyst Dan Gambardello, this consolidation was a positive sign, predicting that once this phase ends, ADA could reach higher values. In this sense, ADA could reach US$5.00 and even US$10.00, according to Gambardello.
“The ongoing consolidation represents a healthy redistribution phase, which generally leads to higher price targets when completed,” the trader said.
Until now, ADA is the eighth largest cryptocurrency by market capand analysts are cautiously optimistic that it will continue its positive trajectory. However, ADA must overcome the consolidation phase before it can approach new price targets such as $2.00 or higher.
XRP has been on an impressive rally, recently surpassing the $1.00 mark for the first time in three years. Cryptocurrency price rose more than 50% last weekbut faced resistance in the $1.60 region.
However, after XRP broke this level, its price recorded strong gains. As a result, the coin surpassed USDT in market value and today is only behind Ether (ETH) and BTC.
Cryptocurrency analyst Armando Pantoja shared his bullish outlook, noting that XRP’s rally is driven by whale accumulation and positive market sentiment. He believes that if XRP can surpass $2.60, it will face minimal resistance to reach the $3.00 level.
Why XRP and Cardano are soaring – this low-cap utility token approaches $2 million in ICO
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Why XRP and Cardano are soaring – this low-cap utility token approaches $2 million in ICO
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Why XRP and Cardano are soaring – this low-cap utility token approaches $2 million in ICO
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Why XRP and Cardano are soaring – this low-cap utility token approaches $2 million in ICO
