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Ripple RLUSD Stablecoin Crosses $1 Billion Valuation

Abdulkarim Abdulwahab
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Ripple RLUSD Stablecoin Crosses $1 Billion Valuation

In a remarkable turn of events, the supply of RLUSD, Ripple’s stablecoin, has surpassed the $1 billion valuation mark.

Market-tracking platforms such as Ripple Stablecoin Tracker on X and CryptoQuant confirm this milestone. With a $1 billion market cap, RLUSD solidifies its position among the top ten largest stablecoins in the market.

RLUSD Overtakes FDUSD

RLUSD has now edged out First Digital USD (FDUSD), which has a market cap of $1.002 billion, while RLUSD stands at $1.027 billion.

This achievement is particularly remarkable considering the coin launched just a year ago. Its valuation has steadily climbed over the past eleven months, as evident in CryptoQuant’s chart.

Notably, the chart shows that 80% of RLUSD tokens are issued on the Ethereum network, while 20% are issued on the XRP Ledger (XRPL). Specifically, Ethereum hosts $819 million worth of RLUSD, while XRPL holds $208 million.

RLUSD supply CryptoQuant
RLUSD supply CryptoQuant

Since its launch, RLUSD has experienced massive adoption, as reflected in its valuation now exceeding $1 billion.

Ripple offers blockchain-based payment, custody, and prime brokerage solutions for institutions, leveraging XRP and its stablecoin RLUSD to streamline traditional finance and promote digital asset adoption.

Massive Adoption and Partnerships

In July, Ripple partnered with The Bank of New York Mellon (BNY) as the primary custodian of reserves backing the RLUSD stablecoin. Since then, adoption has continued to expand.

In September, Ripple teamed up with Securitize to enable investors in BlackRock’s BUIDL and VanEck’s VBILL funds to directly swap their tokenized shares for RLUSD. This partnership introduced always-on smart contracts that provide continuous liquidity for tokenized treasury funds.

Also in September, Ripple expanded RLUSD into African markets through partnerships with Chipper Cash, VALR, and Yellow Card, bringing access to millions of users across the continent.

Just last week, Ripple announced that leading humanitarian organizations, including World Central Kitchen and Water.org, are utilizing the RLUSD stablecoin to transfer funds quickly, transparently, and efficiently across borders.

With Ripple’s blockchain-powered platform, nonprofits can send money globally in seconds, 24/7, without traditional banking delays. Paired with RLUSD, the system enables faster and lower-cost aid delivery.

Regulation and Oversight

Ripple stated that the growing adoption of the RLUSD stablecoin underscores the potential of stablecoins to strengthen global aid delivery and improve financial access.

Notably, RLUSD is fully backed 1:1 by liquid assets, independently verified, and issued under NYDFS oversight. It is also listed on major global exchanges, including Bybit, Gemini, Kraken, Bitso, Bitstamp, and Bullish.

Gemini Says Next Week’s Looking Real Coded for XRP

Abdulkarim Abdulwahab
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Gemini Says Next Week’s Looking Real Coded for XRP

Leading U.S. exchange Gemini has once again ignited excitement across the XRP community after posting a short and powerful message on X.

Specifically, the tweet read: “Next week’s looking real XRP coded.” For context, Gemini’s latest teaser fits into a familiar pattern. 

Earlier in August, the exchange posted a cryptic message hinting that something “BIG” was coming. That buildup ultimately led to the August 25 launch of the Gemini XRP Credit Card, built in alliance with Mastercard, Ripple, and WebBank. 

The limited-edition metal card became the first credit card specifically for the XRP community. It offers up to 4% back in XRP on EV charging, fuel, transit, and rideshare purchases.

Given this track record, the community now views Gemini’s newest hint as another sign that more XRP-branded features may be on the way.

Meanwhile, the statement follows a series of XRP-centered events unfolding this week.

Major Developments for Ripple This Week

For one, Ripple is hosting the 2025 edition of its annual Swell conference between November 4 and 5. The agenda features sessions on crypto payments, stablecoins, regulation, and real-world adoption.

Among the major highlights of the event is the lineup of speakers Ripple has prepared. Ripple has confirmed that Maxwell Stein, the Director of Digital Assets for BlackRock, will speak at Swell 2025.

Stein will speak alongside Moody’s Investors Service’s Rory Callagy to discuss how tokenized assets are reshaping capital markets.

Ripple has also announced that White House crypto director Patrick Witt will speak at the event. Witt’s participation highlights the U.S. government’s growing focus on crypto regulation and innovation.

His appearance has fueled optimism within the XRP community, with many viewing it as validation of Ripple’s role in the evolving U.S. financial system.

Witt joins a lineup that includes Ripple executives Brad Garlinghouse, Chris Larsen, and Monica Long, as well as Rep. Ritchie Torres, EU Parliament Member Billy Kelleher, and leaders from BNY, Kraken, Bitwise, Citi, and Fidelity.

XRP News Coming Soon

Beyond Ripple’s specific event, the XRP community is also on the lookout for ETF news this month. October passed without the XRP ETF launch many expected, so attention now shifts to November.

ETF expert Nate Geraci, president of ETF Store, predicts that the pending spot XRP ETFs could launch within the next two weeks.

His projection aligns with Canary Capital’s proposed XRP ETF, set to debut around November 13, after the firm amended its S-1 filing to remove delay clauses. Canary used a similar strategy for its recent Litecoin and Hedera ETFs.

What Comes Next

With Gemini stating that “next week’s looking real XRP coded,” the community expects major news in the coming days. Given Gemini’s pattern this year—teasing first, launching later—commentators believe the exchange may be preparing yet another addition to its expanding XRP ecosystem.

Hackers Drain $120M From Ethereum DeFi Protocol Balancer

Lele Jima
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Hackers Drain $120M From Ethereum DeFi Protocol Balancer

Leading Ethereum-based DeFi protocol Balancer has become the latest victim of a hack, with attackers draining nearly $120 million from its vaults. 

Several blockchain analytics platforms, including Lookonchain and PeckShieldAlert, have called the public’s attention to the incident. While Lookonchain reports that $116.63 million worth of crypto assets were siphoned from Balancer Vault, PeckShieldAlert puts the figure at around $128.64 million. 

Assets Stolen 

According to data from Lookonchain, the attackers hold approximately $99.5 million of the stolen assets on the Ethereum blockchain, accounting for about 85% of the total loot. The remaining funds have been distributed across other networks, including Arbitrum ($7.9 million), Base ($3.9 million), Sonic ($3.4 million), OP Mainnet ($1.5 million), and Polygon ($231,000).

The stolen assets comprise a mix of liquid tokens and staked derivatives, including Lido (stETH), Frax, Rocket Pool (rETH), and Balancer V2 pool tokens. 

Balancer Attacker
Balancer Attacker

Meanwhile, data from Etherscan highlights some of the token transfers, including 6,851 osETH, 6,587 WETH, and 4,259 wstETH. These assets were transferred from Balancer Vault to an address now labeled as ‘Balancer Exploiter 2.’

The tokens were still held in the attackers’ addresses as of press time. 

Balancer Confirms Hack 

Taking to X, the Balancer team confirmed the incident, stating that the exploit affected its Balancer V2 Pools. The team noted that its security and engineering divisions have launched a high-priority investigation into the breach, while promising to share verified updates once accurate information is confirmed. 

In the meantime, Balancer warned users to avoid clicking on links in the comment or reply sections, cautioning that scammers might attempt to exploit the situation through phishing attacks. 

3-Year Dormant Whale Withdraws Over $6M Assets from Balancer 

As expected, the attack has sparked widespread concern in the crypto community. Amid the incident, a whale address that had been dormant for over three years suddenly became active, withdrawing approximately $6.5 million from Balancer in two separate transactions.

The first transfer involved $1.29 million worth of WETH, while the second moved $5.19 million worth of GNO. With analysts suggesting that the hack could still be ongoing, Lookonchain urged Balancers users to take action by securing their assets. 

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For context, this is not the first time that Balancer has been a victim of a hack. In 2020, attackers stole around $500,000 from the DeFi protocol. It also suffered multiple hacks in 2023, including a flash loan attack in August, which resulted in attackers siphoning off over $2 million in that incident. 

However, the recent hack represents one of the largest Balancer has suffered since its launch in March 2020. 

Bitcoin Holds Above $100,000 Despite 405,000 BTC October Sales: QCP Capital

Elendu Benedict
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Bitcoin Holds Above $100,000 Despite 405,000 BTC October Sales: QCP Capital

Bitcoin has shown unreal resilience by absorbing the impact of massive sales from early holders and still maintaining its trend above $100,000.

The pioneering cryptocurrency is down 2.6% today, relinquishing all of its gains over the weekend. BTC surged from $108,350 on Friday to $111,200 on Sunday but has now failed to break above $108,000 at the time of writing.

Notably, the sideways price action saw it close October in the red for the first time since 2018. Bitcoin recorded a 3.87% decline last month, marking the end of a six-year uptrend streak.

Profit-Taking-Fueled Correction

Meanwhile, Singapore-based crypto trading platform QCP Capital attributed this price correction to profit-taking among long-standing whales. It noted that long-term BTC holders dumped 405,000 BTC over the past month, bringing heavy selling pressure to the asset’s price.

Even today, QCP noted that these whales are still selling, citing a sizeable Bitcoin move to crypto exchange Kraken. This continues the trend seen in October, casting doubt on the trajectory of the premier asset despite no clear macroeconomic headwind.

Notably, this disposition impacted not only Bitcoin but also the broader cryptocurrency market. For perspective, as whales liquidated BTC, long-term XRP holders were also selling at an average of 260 million XRP per day.

Current State of the Market

Remarkably, QCP highlighted Bitcoin’s resilience in maintaining crucial support levels. Despite the over $43 billion dump from legacy holders, Bitcoin still holds above the psychological $100,000 price mark.

Currently, the crypto market remains flat. Analysts at the crypto trading platform suggested that this could continue until whale sales subside. Volatility ticked up slightly over the past week, with traders more invested in put positions. However, the market skew indicates caution among bears regarding further downside for Bitcoin.

Furthermore, leverage sizes suggest caution, as futures open interest has subsided since the October 10 crash. Funding rates are also flat, as investors stay on the sidelines to observe the next market movement.

Corporate firms are also acquiring Bitcoin at a slower rate. For context, Strategy purchased just 778 BTC in October, representing a decrease of approximately 78% from its purchases in September.

Outflows from Bitcoin ETFs further add to the cautious mode. The investment vehicles recorded an outflow of $799 million last week, with BlackRock alone selling $403 million in BTC.

Just Another Correction or Something Deeper for Bitcoin?

Meanwhile, the cautious tone and incessant whale dumps raise questions over the price trajectory of Bitcoin in the near term. Will Bitcoin continue to decline, potentially leading to a crypto winter, or will it rebound to higher prices?

Well, QCP highlighted that the subsequent price development remains unclear. The mixed feelings about whale sales and institutional inflows, despite the latter being currently meager, are the major reason for this uncertainty.

This is why many suggest this cycle is different. Such whale activity would have marked the end of the bull cycle, undoubtedly. But institutional adoption continues to strengthen the market’s foundation.

Interestingly, prominent crypto figures remain optimistic that Bitcoin will target new highs in the near term. Michael Saylor believes Bitcoin would “grind up” to $150,000 by year-end, with BitMine’s Tom Lee predicting $250,000.

Trump: China Is Getting Very Big Into Bitcoin, U.S. Must Stay Number One

Zabi
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Trump: China Is Getting Very Big Into Bitcoin, U.S. Must Stay Number One

U.S. President Donald Trump has raised concerns that China is quickly expanding its involvement in Bitcoin and other digital assets.

During an interview with CBS correspondent Norah O’Donnell at Mar-a-Lago, Trump said Beijing’s growing influence could threaten America’s lead in digital finance and innovation.

“China is getting very big into Bitcoin and crypto right now,” Trump said, warning that losing ground could undermine U.S. technological and economic strength.

Push to Keep the U.S. Ahead in Digital Innovation

Trump emphasized that maintaining U.S. dominance in cryptocurrency and artificial intelligence is essential for national competitiveness. Moreover, he compared the global race in digital assets to the AI boom, noting that both will define future world leadership.

“I want to keep America number one,” he said. “If we’re not leading, China or someone else will.”

The president further asserted that his administration’s policies have positioned the United States as the global leader in cryptocurrency innovation. He contrasted this achievement with what he described as a period of stagnation under President Biden.

Defending His Pardon of Binance Founder CZ

In the same interview, Trump defended his controversial pardon of Binance Co-founder Changpeng Zhao (CZ), who pleaded guilty in 2023 to breaching U.S. anti-money laundering laws. Prosecutors at the time claimed the violations had harmed national security.

Trump rejected those claims, calling the prosecution a politically driven “Biden witch hunt.” He also described Zhao as “a highly respected, successful guy” who had been unfairly targeted.

“I didn’t know him personally,” Trump said, “but I thought he was treated with great unfairness. He was a victim of a vicious group in the Biden administration.”

Furthermore, Trump acknowledged that his sons are more involved in the crypto space than he is. He added that he views digital assets as playing an important role in the U.S. economy.

He also credited his administration for America’s current leadership in the sector, claiming, “We’re number one in crypto in the whole world because I’m the president.”

China’s Return to the Crypto Arena

Trump’s warning comes as analysts note that China has been quietly reentering the crypto space despite earlier bans. Consequently, he suggested that Beijing’s growing involvement highlights the urgency for the U.S. to protect its edge in innovation and finance.

He further explained that losing that edge could weaken America’s economic position globally, a concern he tied directly to his campaign message centered on technology and growth.

U.S. Still Leads in Bitcoin Holdings

Data from Bitbo supports Trump’s assertion of U.S. dominance. The United States currently holds about 198,012 BTC, valued at $21.32 billion. By comparison, China owns 194,000 BTC, worth roughly $20.89 billion. The narrow gap reflects how close the competition has become.

“America Must Stay First”

Closing his remarks, Trump reiterated that global leadership in emerging technologies is his top priority.

“We are number one, and that’s the only thing I care about,” he said. “I don’t want China or anybody else to take it away.”

Ripple Rolls Out U.S. Spot Prime Brokerage for Digital Assets Like XRP

Sam Wisdom Raphael
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Ripple Rolls Out U.S. Spot Prime Brokerage for Digital Assets Like XRP

Ripple has rolled out spot prime brokerage capabilities for crypto assets such as XRP and RLUSD in the United States.

The move will allow clients to trade over-the-counter (OTC) spot markets across top cryptocurrencies, including XRP and RLUSD, Ripple’s stablecoin. The launch represents an important step in Ripple’s push to give institutions easier access to digital assets.

This rollout follows Ripple’s $1.25 billion purchase of Hidden Road, a global multi-asset prime brokerage that now operates under the Ripple Prime name. Ripple finalized the deal in October 2025 after months of integration work. 

Hidden Road handled over $3 trillion in annual transactions for more than 300 institutions before the acquisition. Since then, Ripple has injected billions in fresh capital and tripled the size of the business, making it a global prime brokerage platform under the Ripple brand.

Ripple Prime Now Offering Full Brokerage and Financing Services

As a result of the latest development, Ripple Prime now offers a full range of brokerage, clearing, and financing services, supporting all major digital asset types in the U.S. market. Institutions can execute OTC spot trades across leading digital assets and access traditional markets like foreign exchange, swaps, fixed income, and derivatives. 

Ripple said the new OTC spot service bolsters its existing derivatives and OTC offerings for institutions. Michael Higgins, International CEO of Ripple Prime, explained that the expansion gives U.S. clients a larger suite of tools to manage their trading strategies across different asset classes in one place.

Ripple Prime will also introduce cross-margining, a feature that allows institutions to manage OTC spot positions alongside their other holdings, such as swaps, CME futures, and options

Since completing the acquisition, Ripple has started moving post-trade operations to the XRP Ledger to take advantage of its near-instant settlement times. This helps Ripple Prime deliver faster trades, more transparency, and smoother operations. The company also made RLUSD eligible as collateral for derivatives and cross-margining.

Ripple’s Acquisition Strategy

The Hidden Road acquisition fits into Ripple’s larger expansion plan, which has ramped up since 2024. Last June, Ripple acquired Standard Custody & Trust Company, a U.S.-based crypto custodian, for an undisclosed fee.

In August 2025, Ripple agreed to buy Rail, a Toronto-based stablecoin payments firm, for $200 million. Rail currently processes more than 10% of the $36 billion in B2B stablecoin transactions this year.

Ripple also recently announced plans to purchase GTreasury, a treasury management software provider that serves Fortune 500 companies, in a $1 billion deal that will open the door to the multi-trillion-dollar corporate treasury market.

Buying XRP Now Is Like Buying XRP in 2016 at $0.005: Analyst

Abdulkarim Abdulwahab
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Buying XRP Now Is Like Buying XRP in 2016 at $0.005: Analyst

XRP Nation, a well-known voice in the XRP community, recently compared today’s XRP price with the asset’s ultra-early days.

The commentator suggested that buying XRP at $2.50 now carries the same long-term opportunity as buying it for $0.005 back in 2016 — a period that preceded XRP’s historic surge of more than 75,000%.

In other words, XRP Nation’s message implies that investors today may be in a similar position as those who purchased XRP for fractions of a penny nearly a decade ago.

In 2016, XRP traded around $0.005 before embarking on a multi-year climb that eventually carried it to its all-time high of $3.84 in January 2018. That journey produced one of the largest returns in crypto history. Interestingly, some in the XRP community now believe the coin could replicate that trajectory.

The perspective echoes earlier commentary from analysts like Dustin Layton, who argued that stagnant mid-cycle prices often disguise generational opportunities.

Layton famously compared XRP’s position to Bitcoin’s days under $0.05, noting how seemingly trivial purchases during those early years turned into fortunes.

XRP Historical Patterns Strengthening the Bull Case

XRP’s price history has been defined by multi-year symmetrical triangle formations, each ending with a breakout followed by massive percentage gains:

  • First triangle (2013–2014): ~600% surge
  • Second triangle (2014–2017): ~75,000% surge to $3.84
  • Third and fourth triangles (2018–2025): so far delivered a ~600% surge from $0.50 to $3.66

With XRP still trading below its 2018 high despite major ecosystem expansion, analysts argue that the next decisive breakout could mirror past trajectories. Based on historical performance, some projections suggest potential future values ranging from $20 to $250. Analysts who have previously called for these prices include EGRAG Crypto and Javon Marks.

Beyond historical charts, some have predicted XRP prices as high as $1,000, citing its utility in the payments market.

These outlooks align with XRP Nation’s sentiment that $2.50 may still be “early,” much like $0.005 was early before the previous mega-cycle. Moreover, the market is entering the final months of the year, a period when the coin has historically broken out.

Community Voices Reinforcing the Long-Term View

The idea that “current XRP is still early” has been echoed by several prominent figures:

  • Xena: 1,000 XRP Can Still Change Lives

Xena pushed back against claims that modest XRP holdings cannot produce life-changing gains. She argued that three- to four-digit prices are not unrealistic and could arrive faster than many expect.

  • CryptoTank: 1,000 XRP Could Equal Hundreds of BTC

Echoing Xena, researcher CryptoTank suggested that people underestimate what XRP is preparing to do. He compared the future value of 1,000 XRP to holding 300–500 BTC today, implying potential valuations between $100 and $9,999 per coin.

Skepticism Remains — And So Does the Vision

Critics argue that XRP’s long history and large supply complicate comparisons to Bitcoin. While XRP’s returns have been strong, they have not matched Bitcoin’s meteoric climb, and expecting similar performance may be overly optimistic.

Yet the XRP community remains committed to the thesis of long-term asymmetric upside. The prevailing belief is that as Ripple’s ecosystem expands in institutional payments, tokenization, and global liquidity infrastructure, today’s $2.50 price could represent an opportunity that future investors look back on with disbelief — just as 2016 investors now reflect on $0.005 XRP.

Expert Says His Money Is on XRP All the Way: Here’s Why

Abdulkarim Abdulwahab
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Expert Says His Money Is on XRP All the Way: Here’s Why

Financial commentator Daniel Harris has argued that XRP offers a far more compelling return potential than Bitcoin, especially for retail investors preparing for the next altseason.

“My money is on XRP all the way,” he tweeted, when arguing for where to put $1,000 between XRP and Bitcoin.

Harris broke down the difference using a simple investment scenario. With $1,000 today, an investor can only acquire 0.009 BTC at Bitcoin’s $110,000 price point. That same amount, however, buys 416.67 XRP at $2.40 each.

He then asked which asset is more likely to 2X, 4X, or even 10X within the next 90 days, noting that altcoins have historically outperformed during peak market rotations. To him, XRP holds the best chance of seeing twofold to tenfold price expansion faster due to its smaller size.

Notably, XRP has a market cap of $150 billion, while Bitcoin stands far ahead with a $2.2 trillion valuation. In other words, Harris believes XRP could reach $300 billion more easily than Bitcoin could reach $4.4 trillion.

His point reflects an increasingly common view among altcoin-focused analysts: smaller-cap tokens with utility narratives may generate stronger short-term gains compared to the already-mature Bitcoin market.

Dom Kwok: Why Altcoins Matter in the First Place

Harris made his comment in response to Dom Kwok, co-founder of EasyA, who recently argued that high token prices discourage many new entrants.

Kwok explained that most newcomers don’t feel comfortable buying 0.01 BTC, even if fractional ownership is possible. To them, acquiring whole units of more affordable altcoins feels more intuitive and psychologically rewarding.

He described Bitcoin as “too expensive” for the average starter portfolio, not because of actual cost barriers, but because of how people perceive value.

Armstrong: Fractional Bitcoin Works, But Perception Is the Problem

Kwok’s remarks were originally directed at a statement by Coinbase CEO Brian Armstrong, who said the idea that “crypto is too expensive” is a misconception.

Armstrong reminded new users that they can begin with just a few dollars and don’t need to buy an entire BTC or ETH coin.

However, Kwok and Harris stressed that user psychology drives investment choices just as much as fundamentals. Many prefer owning hundreds of units of an altcoin like XRP rather than fractions of Bitcoin, especially during seasons when altcoins historically outperform.

For instance, over the past year, Bitcoin has been up 60%, while XRP has surged more than fivefold with 388% gains. This historical performance often forms the foundation for renewed calls to favor altcoins over BTC.

Meanwhile, some critics reject this idea, noting that altcoins typically experience much steeper drawdowns during market dips compared to Bitcoin. When Bitcoin drops 5% in a day, some lower-cap altcoins can fall by 30% or even 50%.

XRP Value Comes From Speculation: Ripple CTO Responds to Claims

Abdulkarim Abdulwahab
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XRP Value Comes From Speculation: Ripple CTO Responds to Claims

The Ripple CTO, David Schwartz, has addressed renewed criticism, suggesting that XRP valuation is driven purely by hype rather than real-world utility. 

His detailed response came after X user and Chainlink proponent “Fishy Catfish” challenged XRP’s fundamentals and technological relevance.

On Chain Incentives: ‘Cheaper to Run Will Win’

Notably, the critic argued that other networks attract validators because they offer strong economic incentives, whereas XRP Ledger does not. Schwartz responded that this dynamic is intentional:

  • XRPL deliberately minimizes the cost of running infrastructure.
  • A low-overhead ledger is more likely to win in the long term.
  • High-incentive systems require high user-paid fees, something he sees as a market disadvantage.

TVL, DEX Activity, and Market Cap Debates

“Fishy Catfish” also pointed to XRPL’s relatively low TVL and DEX volume, noting that it ranks around 50th by this metric, far below Solana and Ethereum. Yet XRP still sits among the top assets by market cap, which he attributed to “influencers and misinformation.”

Schwartz challenged the notion that more nodes or higher TVL automatically translate into a better blockchain. He noted that XRPL has no technical limitation preventing DEX activity. In other words, its usage levels are not a reflection of its capability.

On Ripple launching RLUSD primarily on Ethereum, he agreed that demand is still low on XRPL. Meanwhile, Schwartz believes token holders should care more about future utility than current usage.

“XRP Is a Meme Coin”

The critic labeled XRP a “meme coin” and compared it to Dogecoin on the basis that both serve as native tokens of their respective chains.

Schwartz replied that, under such criteria, virtually all cryptocurrencies would be meme coins. He highlighted that features like scarcity, reliability, fungibility, and censorship resistance form the true foundational value of crypto assets.

Speculation vs. Source of Value

The final accusation claimed that Schwartz “admitted” XRP gets its value purely from speculation, contradicting CEO Brad Garlinghouse’s long-held emphasis on utility.

Schwartz clarified that he did not mean XRP’s inherent value comes from speculation. Rather, like Bitcoin and Ethereum, its current price is largely driven by expectations of future speculative demand.

He noted that nearly all cryptocurrencies today have limited real-world utility differentiating them from one another, and that most adoption in the space is due to speculation or infrastructure supporting speculative activity.

In other words, speculation influences today’s prices, but not necessarily an asset’s long-term value proposition.

“It’s very difficult to distinguish today’s cryptocurrencies based on current utility. Nearly every successful use case today revolves around speculation or supporting speculative activity,” the Ripple CTO said.

Ultimately, Schwartz argued that while technology and adoption are important, price discovery in crypto remains overwhelmingly shaped by expectations of what’s next.

Cardano Is a Strong Catch-Up Play in the Next Altcoin Cycle: Analyst Shares Mid and Long-Term Rally Targets

Elendu Benedict
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0
Cardano Is a Strong Catch-Up Play in the Next Altcoin Cycle: Analyst Shares Mid and Long-Term Rally Targets

A recent analysis has suggested that Cardano remains within bullish territory, predicting the levels the token will rally to if key levels hold.

Cardano joined the rest of the market to retrace earlier today, correcting more than 5% over the past 24 hours. This further adds bearish pressure to its price, which has declined by 14% and 30% over the past seven and 30 days, respectively.

Bullish Cardano Structure Intact Despite Downtrend

Meanwhile, analyst “Aminazarpey” has identified that Cardano’s bullish structure is still intact. He shared this in a recent TradingView commentary on Sunday, insisting on a possible bullish development for the blue-chip asset.

He shared that if Bitcoin and Ethereum recover from the current bearish trend, Cardano could be a strong “catch-up play” for investors in the coming altcoin cycle. The commentator believes so because ADA has so far lagged considerably behind the crypto leaders.

Notably, his Cardano price prediction shows that ADA is currently trending within a large ascending channel, steadily recovering from the crypto winter in 2022. Despite the recent downside, the market watcher emphasized that Cardano remains within this wedge, which, according to him, is a bullish indicator.

The lower trendline of the channel stands between $0.55 and $0.66, a strong support range that bears have failed to break. For context, ADA trades at $0.58 at the time of writing, still within the zone.

The analyst emphasized that as long as the lower support boundary is intact, ADA’s price remains in bullish territory. He further shared possible upward targets if this trend continues and ADA gains momentum in the area.

Crucial Resistance Ahead

Notably, the analyst highlighted a resistance line within the channel that Cardano has failed to break since its December 2024 peak of $1.32. He suggested that ADA would retest this trendline.

Cardano Price Analysis | Aminazarpey
Cardano Price Analysis | Aminazarpey

A successful breakout would set Cardano up for a rally towards the $1 and $1.20 price targets in the mid-term. Notably, this 72.4% to 106.9% move is a widely anticipated target for ADA, with prominent chartist Javon Marks predicting a surge to the level before a bullish continuation to $2.91.

Meanwhile, this move could extend further if Cardano breaks above the ascending channel’s upper resistance boundary. Currently around $2.30, he predicted that a move past the trendline would spark further upside moves towards $2.80 and $3.00.

The analyst stated that this 382.7% to 417% growth from the current level aligns with major Fibonacci levels and structural confluences. Notably, he predicted that this would be a longer-term target for Cardano.

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