Cardano bullish predictions as ADA price hits two-year high

TL;DR

Cardano (ADA) is up 120% in two weeks, surpassing $0.80. Analysts predict higher earnings. Speculation about a Cardano/Ripple alliance has fueled the excitement, although no official announcement has yet been made.

ADA keeps pumping

Some of the major altcoins like Solana (SOL), Binance Coin (BNB), Ripple (XRP) and more have seen minor losses in the last 24 hours. However, this is not the case with Cardano (ADA), which is currently (November 20) the 20th highest performing cryptocurrency.

At the time of writing, its price is above $0.80, the highest level seen since May 2022. The asset has risen 120% in the past two weeks and its market cap of market is approaching 30 billion dollars.

ADA price, Source: CoinGecko

Many industry participants think ADA could post much more impressive gains during the ongoing bull cycle. User X, CryptosRus, claimed that the token’s valuation could soar to $6 from July to September next year if it follows “a similar pattern to the last cycle.”

Crypto King also noted the resurgence, recalling that most people called Cardano “a scam” when ADA was worth around $0.30 earlier this year. The analyst said the price has shot up 2.5 times since then, saying it is poised for another recovery.

Other analysts predicting a bright future for Cardano’s native token include FLASH and Lucid. The former believes it is “approaching the next level” above $1, while the latter outlined some important factors that indicate it is “about to go interstellar.”

Examples include Cardano’s high Minimum Attack Vector (MAV) and the fact that there are no scheduled token unlocks (which increase the circulating supply and can cause a price drop).

We recently published a video with some of the main developments around Cardano. Check it out here:

More increase in this condition?

Recently, Crypto X has grown with rumors that the price of ADA could experience a major bull run if Cardano makes a strategic alliance with Ripple.

The speculation was fueled after Cardano founder Charles Hoskinson held discussions with senior executives of the other entity. He had conversations with Ripple CEO Brad Garlinghouse and the company’s CTO David Schwartz.

Hoskinson recently indicated that he will spend some of his time helping the Donald Trump administration establish a comprehensive regulatory environment for the cryptocurrency industry. For his part, Garlinghouse was rumored to have met with the US president-elect or someone in his cabinet to discuss possible reforms in the digital assets sector. As such, the two executives could have touched on this topic.

However, the exact point of the discussion is still unknown and there has been no official announcement regarding a Cardano/Ripple partnership. It will be interesting to follow the updates on the matter and see the reaction of ADA prices if the two entities decide to join hands.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato readers on Bybit – Use this link to register and open a FREE $500 position with any currency!