Cardano (ADA) Surges Ahead of Historic Upgrade...Runs Alongside XRP

▲ Cardano (ADA)

Cardano (ADA) rebounded 20% after recovering from a sharp decline. Simultaneously, XRP is once again drawing attention in the altcoin market as its XRP Ledger approaches 1 million AI transactions.

According to cryptocurrency media outlet Cryptopotato on July 4 (local time), Cardano fell below $0.14 last month, plummeting to its lowest level since late 2020. Its market capitalization once shrank to approximately $5 billion, and it was temporarily pushed out of the top 20 cryptocurrencies by market cap. However, it has since rebounded 20% over the past week, regaining market attention.

Cardano's rebound coincided with a broader recovery in the cryptocurrency market. Bitcoin (BTC) rose to $62,000, and Ethereum (ETH) surpassed $1,700. Furthermore, the RealFi Phase 1 Testnet, scheduled to launch on July 6, stimulated investor sentiment. Cardano founder Charles Hoskinson described the upgrade as “the largest upgrade in the project's history.”

Analysts also noted the potential for Cardano's short-term price recovery. X (formerly Twitter) user Sssebi stated that Cardano “caught fire,” suggesting it could rise to $0.20. Nehal proposed that if Cardano maintains above $0.16, it could climb to $0.23. However, the Relative Strength Index (RSI) exceeding 70 and entering the overbought zone was identified as a short-term concern.

Cryptocurrency media outlet U.Today reported that the XRP Ledger is approaching 1 million autonomous artificial intelligence (AI) agent transactions. According to t54 service data, the number of transactions processed independently by AI agents on the XRP Ledger is rapidly increasing. The XRPL x402 payment facilitator, built by the t54 team with support from Ripple, is designed to allow AI bots to directly pay for computing power and data costs. t54 stated, “Nearly 1 million agent transactions have recently been settled through the XRPL x402 facilitator.”

U.Today analyzed that XRP has surpassed the daily Bollinger Band midline of $1.1112, and its next technical target is the upper band at $1.2320. The key weekly resistance level was set at $1.3147. Cardano has put the $0.20 and $0.23 levels to the test amid upgrade expectations and market rebound, while XRP, driven by expanding AI transactions and a technical breakout trend, has pushed the $1.30 level to the forefront as a key observation point for the market.

[Key Article Summary]

-Cardano rebounded 20% over the past week after falling below $0.14 last month.

-The RealFi Phase 1 Testnet and price predictions of $0.20 and $0.23 stimulated Cardano investor sentiment.

-The XRP Ledger approaching 1 million AI agent transactions raised expectations for a breakthrough to $1.30.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*