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Pundit Spots Similar Patterns in Cardano and XRP — Is ADA Set for a 400% Move?
By Newton Gitonga – January 17, 2025
This week, Ripple’s XRP stole the spotlight by hitting seven-year highs, surging nearly 45% in just seven days. Notably, on Thursday, the third largest crypto asset by market capitalization reached $3.39, with a market cap of just over $190 billion, following a series of favorable developments in its ongoing legal battle with the SEC. XRP’s explosive growth has also been attributed to renewed optimism about regulatory clarity and increased institutional adoption of RippleNet. Open interest in XRP futures hit a record $7.7 billion, reflecting heightened trading activity.
XRP’s remarkable surge has led some analysts to speculate whether Cardano (ADA) could be next in line for a similar breakout. On Thursday, prominent analyst “CryptoBullet” highlighted a striking similarity between Cardano’s current price action and XRP’s recent bullish pattern. “Looks like ADA is going to follow XRP as it prints the same Bullish Pennant,” CryptoBullet tweeted, suggesting that if the pattern completes its mature move target, ADA could potentially surge by over 400% in the next few weeks.
Another expert, “World of Charts,” concurred with this assessment, proposing that ADA could surge toward $2 in the short term if it breaks out of its current bullish pennant. Moreover, the analyst “Cardano Hieronymus” suggested that ADA’s price action might mirror its performance in 2024, when it rose by over 500% in just a few months.
ADA’s growth is attributed to optimism around crypto regulations in the U.S. following Trump’s assumption of office, large-scale whale accumulation, and ongoing developments in Cardano’s Layer 2 solutions, which aim to improve scalability, security, and privacy. On Tuesday, technical analyst Ali Martinez revealed significant whale activity, with whales accumulating 100 million ADA in 48 hours, fueling the current upward trend. Later on Thursday, Martinez further reported that whales had added another 30 million ADA in just the last 24 hours. This consistent accumulation throughout the month underscores growing confidence among large investors.
As XRP sustains its impressive rally, the crypto community is turning its attention to Cardano, speculating whether history could repeat itself. A decisive breakout above the multi-month resistance at $1.15 might signal the beginning of a major upward trend, potentially driving ADA to a new all-time high. ADA traded at $1.16 at press time, reflecting a 3.86% gain over the past 24 hours.
The similarity in patterns between XRP and ADA has raised eyebrows among traders and investors alike, who are eager to know whether history could repeat itself. However, it remains unclear whether this surge will be sustained in the long term or if it is merely a temporary market correction.
Source: zycrypto.com
