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Cardano Bull Dan Gambardello Makes Intriguing ADA Forecast

Mark Brennan
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Cardano Bull Dan Gambardello Makes Intriguing ADA Forecast

With the current crypto market outlook, Cardano (ADA) proponent Dan Gambardello recently predicted that ADA could soar beyond the $1 price mark soon.

Dan Gambardello, the founder of Crypto Capital Venture, asserted in a recent post that ADA’s days below $1 would soon be over. He has always projected a massive uptick for the coin as he and other analysts believe the asset has minimal resistance to print a new All-Time High (ATH).

Cardano Price History

Cardano has rich historical price trends that complement the projections made by Gamberdello. While it traded as low as $0.01735 in October 2017,  ADA has recorded an unsustained breakout above the $1 mark on several occasions in the past. 

One of the earliest price breakouts above $1 came on January 4, 2018 when the price of ADA touched $1.094. The coin dropped after achieving this feat and did not retest the $1 mark until early February 2021. The 2021 Calendar year marked an exceptional one for Cardano, seeing its price rallied to the ATH above $3.1. 

ADA Chart | CoinMarketCap

The slump recorded after that cycle top has been intense, dragging the price of Cardano to a low of $0.2304 over the past year.

Current indications now show the worst is over and Cardano is on track to ride the current bullish wave surrounding Bitcoin (BTC). The asset seeks to chart a defined path for itself in the mid to long term.

Cardano Price Forecast

While the latest message from Dan Gambardello exudes optimism, in precious calls, the analyst has projected the likelihood of ADA hitting the $1 price mark before the upcoming Bitcoin halving event.

Beyond Gambardello, other analysts are very bullish on ADA, with some of the most conservative projections pegging the price of the cryptocurrency at $3 in the near future. 

Cardano as a protocol is gearing up to back up these forecasts with more intense ecosystem development.

As reported earlier by The Crypto Basic, the blockchain has unveiled 300 projects it is funding through the Project Catalyst Fund 11. With more DApps and real world use cases set to make their emergence on Cardano, the protocol is primed for more impressive growth in the long term.

Shiba Inu Lead Gives Hint to Attend ETH Denver

Abdulkarim Abdulwahab
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Shiba Inu Lead Gives Hint to Attend ETH Denver

Shytoshi Kusama, the Shiba Inu ecosystem team lead, has dropped a hint suggesting he could attend the ongoing Ethereum developer conference unfolding in Denver, Colorado.

Shiba Inu Lead in Denver

In a recent post, Kusama revealed his interest in the controversial murals displayed at the Denver International Airport (DIA). These murals, created by artist Leo Tanguma, have gained notoriety for their dark and symbolic imagery.

Expressing amazement at what he learned about the murals, Kusama reached out to the community for guidance on locating them. “I have to see it for myself,” the Shiba Inu lead developer remarked.

In response to his inquiry, a Shiba Inu enthusiast shared an image of the paintings, noting their prevalence throughout the airport. An intrigued Kusama replied, “So, [they are] not in one place.”

However, Kusama’s inquiry about locating the murals at the Denver Airport suggests that he may have embarked on a journey to attend the unfolding ETH conference, according to growing speculations.

Jose, another Shiba Inu enthusiast, expressed this view while reacting to Shytoshi Kusama’s tweet. “Is Shytoshi going to ETHDenver 2024,” Jose asked curiously.

 

ETHDenver 2024

ETHDenver 2024 stands out as the premier Web3 “BUIDLathon” globally. It draws Ethereum and blockchain enthusiasts, developers, and designers alike, hailing from around the globe.

Notably, the ETHDenver community converges with a shared purpose: to contribute to the global blockchain ecosystem.

They actively engage in activities such as “BUIDLing” dApps, initiating infrastructure-level projects, crafting documentation, whitepapers, and tutorials, designing UI/UX interfaces, and creating informative graphics. 

The objective is to empower the community by directly returning value following the event’s conclusion.

Essentially, ETHDenver serves as both a launchpad and an incubator, facilitating year-round funding opportunities for projects that contribute to advancing the blockchain ecosystem.

Notably, the event operates entirely on community funding. For this year, ETHDenver commenced on February 23 and will continue until March 7.

Massive XRP Transfer Spotted from Binance as XRP Spikes 5.5% to $0.5867

Mark Brennan
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Massive XRP Transfer Spotted from Binance as XRP Spikes 5.5% to $0.5867

A large XRP transfer worth $167,708,662 has been spotted on-chain, coinciding with a sustained uptick in the price of the cryptocurrency.

A lumpsum transaction featuring 300,000,000 XRP has been spotted by the crypto analytics platform Whale Alert. However, the market remains largely unaffected by the massive transfer, a moving such enormous funds in crypto is not uncommon, especially with XRP.

The Binance-XRP Connection

The assets were worth $167,708,662, implying that the 300 million XRP was moved at an average price of $0.5590. At first glance, the Whale Alert data shows the transfer was initiated from Binance to an unknown wallet.

On closer examination, the recipient wallet also has close ties with the top trading platform. Data from the Bithomp explorer shows the recipient’s wallet was activated by Binance in December 2021 with 70 XRP.

Before this 300 million XRP transfer, the wallet has featured proactively in related transactions in the past. Records confirm that it received 200 million XRP on February 13 and sent out 100 million 2 days after.

While the sender of the recent 300 million XRP has a current balance of 932.87 million XRP, the recipient wallet now boasts 297.128 million XRP as its balance.

Why XRP Price is Unmoved

Large transactions like the 300 million under review are capable of triggering a price reaction especially when users attribute the fund movement to potential whale actions. 

However, the market seems unconcerned with the transaction as the bullish uptick in the price of Bitcoin (BTC) is driving a positive market-wide sentiment.

XRP is riding the wave with its price and market capitalization up 5.55% in 24 hours to $0.5867 and $32,022,346,555. Trading volume has maintained a 62.98% jump within the same period to $2,432,218,131.

XRP Targets $3+ as It Finally Pushes to Breach 6-Year Trendline

Sam Wisdom Raphael
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XRP Targets $3+ as It Finally Pushes to Breach 6-Year Trendline

A prominent market analyst has set an XRP breakout target above the $3 mark should the crypto asset eventually breaches its extensive six-year downward trendline. 

XRP has been largely underperforming since it collapsed from the all-time high price of $3.3 in January 2018. The crypto asset has remained below this price level, unable to even reclaim the $2 price territory despite experiencing the bull market in 2021.

Notably, some believe the SEC’s lawsuit, which began in December 2022, was responsible for XRP’s inability to leverage the 2021 bull market for a new ATH. Amid the speculation, XRP’s underperformance since 2018 has resulted in the formation of a downward trendline.

Market analyst JD called attention to this downtrend, hinting at a potential breakout from XRP after six years. Data from an accompanying chart shows that XRP already attempted twice to break out of this downtrend, but faced stern opposition when it hit the descending trendline.

Past Attempts at a Breakout

Interestingly, XRP recorded an impressive uptrend from January 2021 despite the emerging FUD and multiple delistings that resulted from the SEC’s lawsuit against Ripple. The token rose 125% in January 2021 and extended this run with a 37% gain in March and a 180% spike in April 2021.

With this bullish momentum, XRP clinched a high of $1.96 in an attempt to break above the downtrend. However, it faced resistance, unable to hit $2 and push above the trendline. The ensuing correction resulted in XRP shedding off the gains of the early 2021 rally.

XRP again attempted to break above the trendline when it rallied to a high of $0.93 in July 2023. This upsurge was triggered by the favorable ruling from Judge Analisa Torres in the Ripple vs. SEC case, which declared that XRP in itself is not a security. 

XRP Pushes for Another Breakout

Nonetheless, the token faced resistance again at the $0.93 high, and the resulting correction has seen it drop to the $0.5 territory. As the downtrend pushes further, XRP is looking to make another attempt at breaching the trendline. JD noted this in his latest analysis.

Calling attention to the XRP weekly chart on the non-logarithmic scale, he identified a potential push above the trendline. A non-logarithmic scale on a chart represents price movements linearly, showing equal price changes as equal distances.

Leveraging this chart, JD set up a breakout target for XRP above the $3, potentially leading to a new ATH. The analyst failed to give a specific target, noting that he would update his analysis with such a target once he confirms the breakout.

Meanwhile, XRP is currently looking to conquer the $0.60 territory, a move that could help it break above the downtrend. The token soared to a high of $0.5976 this morning before facing resistance that saw it drop to the current price of $0.5804. XRP is up 5.3% in the past 24 hours.

German Venture Capital Firm CEO Says XRP Can Be World Reserve Currency

Abdulkarim Abdulwahab
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German Venture Capital Firm CEO Says XRP Can Be World Reserve Currency

Oliver Michel, the CEO of Tokentus Investment AG, a prominent German Web3 venture capital firm, has voiced his belief in XRP’s potential to serve as the world’s reserve currency.

Michel expressed this view during a recent interview with Der Aktionär on the floor of the Frankfurt Stock Exchange, wherein he emphasized XRP’s role as a bridge asset for cross-border payments.

Pseudonymous XRP community member XRP DROPZ recently spotlighted Michel’s commentary on XRP.

XRP for Cross-Border Settlements 

Michel stressed XRP’s crucial role by first citing a scenario involving a monetary transfer from Germany to the United States. He highlighted multiple financial institutions’ involvement in converting the euros to dollars for the recipient.

Michel expressed concern over the high costs and lengthy processing times associated with the traditional methods. On this premise, he remarked that Ripple created a business concept around XRP to solve the highlighted problem. 

In particular, Michel noted another scenario wherein, upon initiating the euro payment, the sender’s processing financial institution swiftly converts the euros into XRP with minimal cost.

Subsequently, the receiving bank promptly converts the XRP into dollars and disburses the funds to the recipient, incurring minimal time and cost.

In his words, as translated from German:

“That’s actually the motivation of Ripple – so that the banks or the central banks can exchange the classical currencies into XRP.”

XRP Becoming World Reserve Bridge Currency

Furthermore, during the interview, the correspondent sought Michel’s view on the future role of XRP Ledger and Ripple’s On-Demand Liquidity.

The Tokentus Investment CEO expressed a belief that the future role of XRPL and ODL would be pivotal, especially with the emergence of central bank digital currencies (CBDCs). He highlighted the pressure on central banks to implement CBDCs quickly.

Moreover, Michel sees Ripple’s bridge technology as crucial for facilitating connections between central banks. While citing potential rivals like the JP Morgan coin, he emphasized the advantage of being a First Mover in this space. 

As a result, he expressed confidence that XRP has the potential to become the world reserve bridge currency if time favors Ripple’s development.

“With its offer and if time plays for Ripple, then Ripple [XRP] can certainly become the world reserve bridge currency,” Michel remarked.

Latest Update in Ripple Vs SEC: SEC Wants to Delay Lawsuit’s Resolution

Lele Jima
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Latest Update in Ripple Vs SEC: SEC Wants to Delay Lawsuit’s Resolution

The U.S. Securities and Exchange Commission (SEC) has submitted a motion seeking to extend the deadline for the remedies-related briefing. 

According to a letter shared by famous crypto lawyer James K. Filan, the SEC asked the court to modify the pending deadline of the remedies briefing, thus resulting in a one-week extension for the completion of the remedies-related briefing. 

New Proposed Deadlines 

Per the letter submitted on February 27, the SEC requested that the date for the filing of its opening brief be extended by nine days, from the initial deadline of March 13 to March 22, 2024. 

The SEC claimed that the nine-day extension would allow it to thoroughly review Ripple’s financial records and finalize its remedies-related briefing. 

Notably, the SEC emphasized that Ripple will not be unfairly prejudiced in its deadline extension request. This is because it also asked the court to extend the deadline for Ripple to file its remedies-related opposition by 10 days to April 22 from April 12, 2024. 

Additionally, the SEC requests a modification to the deadline for submitting its reply brief from April 29, 2024, to May 6, 2024. 

Ripple Consents  

Explaining why its request should be granted, the SEC noted that Ripple consents to its plea for a time extension. It also pointed out that neither party had asked the court to extend the remedies-related briefing schedule. 

According to the SEC, there is a good cause to grant the deadline extension request. First, the commission argued that it has diligently completed all remedies-related discovery and briefing. 

It also revealed that the parties were only able to resolve the dispute regarding the proper scope of the remedies by February 5, 2024. 

The development marks the second time one of the parties has requested a deadline extension in the remedies phase of the lawsuit.

Recall that based on Ripple’s request, the court extended the deadline for completing the remedies-related discovery to February 20, 2024, from the initially scheduled February 12, 2024. It remains to be seen whether the court will extend the remedies briefing deadline based on the SEC’s request. 

A Plot to Make XRP Miss Out in Bull Run?

As expected, XRP community members have taken to the comment section to express their frustration over the recent development. 

Some investors accused the SEC of employing delay tactics to ensure XRP misses out in the upcoming bull run. 

For context, the next bull run is expected to take full force following the Bitcoin halving event in mid-April. The legal tussle prevented XRP from participating in the last bull market.

Data from CoinMarketCap shows that XRP price plummeted heavily at a time when other crypto assets were recording new all-time highs (ATH). 

It remains unclear whether the remedies phase of the litigation will affect XRP’s performance in the upcoming bull run. 

XRP Price Can Reach 3-4 Digits: Frankfurt Stock Exchange Correspondent

Sam Wisdom Raphael
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XRP Price Can Reach 3-4 Digits: Frankfurt Stock Exchange Correspondent

A correspondent at the Frankfurt Stock Exchange believes XRP clinching a three to four digit price is feasible, citing the crypto asset’s immense utility in the finance scene.

Oliver Michel, founder and CEO of German-based venture capitalist firm Tokentus Investment AG, said this while speaking in an interview with a Der Aktionär reporter. Digital Asset Investor, an XRP community figure, recently highlighted the interview on X.

When asked what excites him about Ripple and XRP, Michel noted that Ripple’s position as a company with a board structure rather than a foundation is a good thing.

Secondly, he emphasized how Ripple leverages the XRP Ledger for multiple business cases. However, he specifically spotlighted ODL (now Ripple Payments) as an interesting business case which looks to address pain points with international money transfers. 

Michel stressed that sending money across borders, for instance, EUR from Germany to USD in the U.S., would take a lot of time and cost due to exchange rates and bank intermediaries. 

The Tokentus CEO noted that Ripple solves this by converting the source currency (in this case, EUR) to XRP on the XRP Ledger blockchain. They then convert the XRP to the target currency (in this case, USD), with low cost and reduced time.

XRP’s Price Projected to Initially Hit $5 to $10

Concerning the price of XRP, Michel had some interesting remarks. It bears mentioning that Tokentus, Michel’s company, is an XRP investor. The firm purchased 50,000 EUR worth of XRP last July. Data from its official website shows it holds 372K XRP purchased for 225K EUR.

Michel confirmed that he is interested in prices because of his company’s investment. He projected a price target of $5 to $10 for XRP. According to Michel, XRP’s price targets would come in waves, with the $5 to $10 being targets for the first wave.

Speaking further, he revealed that his interest in Ripple and XRP is due to the fact that he and his company are invested in both entities. Besides holding XRP tokens, Tokentus Investment AG invested $100K in a Special Purpose Vehicle (SPV) for Ripple shares in December 2022.

XRP Could Soar to 3-4 Digits

As the interview progressed, the Der Aktionär respondent sought Michel’s thoughts on the future of Ripple Payments.

In response, he called attention to the potential evolution of CBDC endeavors on the XRP Ledger, which could lead to an interconnection of multiple central banks at the backend of the blockchain.

He stressed that the XRPL will serve as a central hub, functioning as a bridge technology to connect these banks. Michel admitted that there are some competitors to this utility, including the JPM Coin from JP Morgan. 

However, he noted that he believes in the first mover advantage, which could be beneficial for Ripple, seeing as it is early in the market. According to him, Ripple could position itself as the available option if these central banks feel an urgency to implement their CBDC plans.

Should this occur, Michel says it could result in XRP being the world reserve bridge currency, a philosophy that several XRP proponents hold. The Tokentus CEO believes, in such a scenario, XRP’s price could switch from 2 digits to 3 or 4 digits, and possibly 5 digits.

Legal Expert Says This Summary Judgment Briefing “Will Be Critical For Ripple” 

Lele Jima
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Legal Expert Says This Summary Judgment Briefing “Will Be Critical For Ripple” 

Pro-XRP lawyer Fred Rispoli issues fresh comments regarding the legal dispute between Ripple and a group of XRP investors led by Vladi Zakinov. 

In a tweet yesterday, Attorney Rispoli noted that the summary judgment briefing in the Zakinov lawsuit “will be critical” for Ripple, just like the SEC’s case. 

The expert suggested that the summary judgment briefing could be crucial in determining whether the final verdict would favor Ripple.  

It is worth noting that the summary judgment briefing in the SEC v. Ripple case also played a pivotal role in determining Judge Analisa Torres’ decision in July. Following the summary judgment briefing, Judge Torres declared that Ripple’s programmatic sales and other distributions of XRP do not constitute investment contracts. 

She also declared XRP in itself as a non-security while finding that Ripple violated the law via its institutional sales. 

Notice from Zakinov Class Action 

Meanwhile, Attorney Rispoli made the remark in reaction to a tweet from an XRP community member, who called attention to a document from the Zakinov lawsuit. 

The document, attached to the tweet, serves as a notice to U.S.-based investors who hold or sold XRP at a loss from July 3, 2017, through June 30, 2023.  

Per the document, eligible XRP investors are required to either do nothing and be bound by the outcome of the class action or ask to be excluded from the litigation on or before April 5, 2024. 

Investors who participate in the lawsuit may receive monetary incentives from Ripple. Participating in the lawsuit also implies giving up your rights to sue Ripple separately in the future regarding the same legal claims, irrespective of the outcome of the verdict.  

Being excluded from the lawsuit helps retain your rights to sue Ripple in the future for the same legal claims. However, XRP investors who choose this option will not participate in any monetary incentive from the class action. 

Background of the Case 

For context, the Zakinov lawsuit alleges that Ripple, its CEO Brad Garlinghouse, and its subsidiary XRP II offered and sold XRP to U.S. investors as unregistered securities. 

Notably, the U.S. District Court for the Northern District of California ordered the case to be a class action. Last year, it also certified two classes for the lawsuit- Federal Securities Claim Class and California State Securities Claim Class. 

Although the lawsuit was introduced in 2018, the court scheduled an official trial to be held in October 2024. 

Analyst Identifies Resurgence of XRP Triangle Formation that Led to 66,000% Surge

Sam Wisdom Raphael
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Analyst Identifies Resurgence of XRP Triangle Formation that Led to 66,000% Surge

A top market analyst has identified the resurgence of a symmetrical triangle formation on the XRP three-week chart, resulting in a nearly 66,000% price surge in the 2018 bull run.

Following the run to the $0.5795 high on Feb. 16, XRP experienced a price collapse that battered the token to a $0.5252 low on Feb. 23, marking a 9% decline from the latest high. Nonetheless, a price recovery has seen XRP reclaim the $0.58 territory.

Amid the rollercoaster ride, pseudonymous crypto market analyst Moonshilla has called attention to a pattern that the asset witnessed before its historic surge from 2017 to 2018. An accompanying chart suggests that this pattern exists in the three-week timeframe.

Previous Symmetrical Triangle 

Notably, data indicates that XRP formed a multi-year symmetrical triangle following its collapse from the November 2013 high of $0.0614. After XRP slumped from this high, it continued to record lower highs and higher lows, eventually forming a symmetrical triangle.

XRP first attempted a breakout from the triangle when it rallied to a high of $0.0280 in December 2014. However, this breaking attempt was futile, resulting in further correction.

XRP only broke out of the triangle when it moved to its apex in March 2017. At this point, XRP had collapsed to a low of $0.0053. After breaching the upper trendline of the symmetrical triangle, XRP rallied 65,931% to its all-time high above $3 in January 2018.

XRP Forms an Identical Triangle

However, the crypto asset collapsed from this high shortly after attaining it, experiencing persistent price declines as the broader market witnessed a correction. Amid these declines, XRP has formed another symmetrical triangle similar to the one from late 2013 to early 2017.

This second triangle has persisted until now. XRP sought to break out in 2021 when it surged to $1.96. Nonetheless, this breakout attempt was futile, like the one in December 2014. Data from Moonshilla’s chart suggests that the token is now close to the apex of the triangle.

Interestingly, Feb. 23, the day the analyst presented the chart, marked the seventh year after the breakout from the previous triangle. With XRP edging closer to the peak of the current triangle, a breakout could result in a similar price surge. Nonetheless, considering current market realities, how far the ensuing price rally will go remains to be seen.

Analysts Deduce That Early Investment In BlockDAG Can Make You A Crypto Millionaire – Here’s How

Esra Zuhal
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Analysts Deduce That Early Investment In BlockDAG Can Make You A Crypto Millionaire – Here’s How

Optimism mounts in the crypto market, fuelled by the upcoming Bitcoin halving and a potential Ethereum ETF approval. Consequently, investors are forecasting a massive crypto bull cycle for both major cryptos and altcoins. Notably, Cardano (ADA) price also stands poised for a rally, potentially surpassing $1. Based on the bullish market sentiment, analysts have provided insights into the potential windfall from early investment in a presale project named BlockDAG. These insights are nothing short of intriguing. They believe that investing early in BlockDAG presents a golden opportunity to amass significant wealth in the volatile world of cryptocurrencies. How is this possible? – Read on to find out!

BlockDAG Presale – Get In Now to Reap 3233% ROI Post-Launch!

BlockDAG, a rising PoW (Proof-of Work) project, has ignited a frenzy in the crypto community, driven by its highly successful presale securing over $2M to date and a comprehensive ecosystem of decentralized solutions akin to Solana, BNB, and Ripple. Given its innovative technology and the scope of its network, BlockDAG stands poised for growth comparable to its bigger peers.

BlockDAG has already provided its initial backers with a solid ROI of 50%, with BDAG token price jumping from $0.001 in the first batch to $0.0015 in the second batch. But this is only the beginning, as much higher returns await those who invest early. With the current coin price at $0.0015 and the listing price set at $0.05, investors who buy into the current batch can expect to reap a jaw-dropping 3233% ROI. You’ve read well. 3233%. No points in between.

Investors should act quickly since the BDAG’s price is set to increase with each subsequent batch, with 45 presale batches in total. Underscoring the urgency of buying into BlockDAG presale, the mining difficulty of BDAG will increase significantly upon launch.

In response to early investor enthusiasm, BlockDAG has introduced a $2 million shared mega giveaway, offering rewards to 50 lucky community members. To participate, follow BlockDAG’s social media, submit your wallet address, complete quests for increased chances, and invite friends for extra entries!

Follow these links to know more about BDAG

Website

Presale

Telegram

Discord

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