Cardano’s native token, ADA, ended the week on a positive note, soaring much higher than Ripple’s XRP. The surge in value comes after Bitcoin hit a fresh all-time high of $125,506 on Sunday. This lifted the broader cryptocurrency market, making leading altcoins and meme currencies turn green.
As the markets entered the greener side of the spectrum, Cardano notched up 6% returns in a week while XRP printed gains of 3.7%. ADA has spiked around 80% ahead of Ripple’s native token during the first week of October.
The recent price surge made ADA gain a 24-hour trading volume of over $1.5 billion. On the other hand, XRP’s daily trading volume fell to $5 billion after reaching a high of $8.5 billion in September.
Both the altcoins are on a balancing act between the $1 and $3 price range. While XRP is looking to reclaim the $3 mark, Cardano is aiming to climb above the $1 level. The highest ADA reached is $0.87 on Sunday, while Ripple’s token is at $2.97.
Also Read: ETF Debate: October or Uptober? XRP’s Price Momentum Faces the Test
What Next For Cardano and XRP?
The leading altcoins have remained investors’ favorite as demand barely dipped in the charts. They are among the most sought-after tokens in the market with an influx of investments from retail and institutional funds. If Bitcoin manages to soar further in the charts, Cardano and XRP could well trade above $1 and $3, respectively.
Also Read: Here’s Why XRP Hitting $4 In October Could Be A Reality
The cryptocurrency market is in the crosshairs of a new price jump. Taking an entry position now could be beneficial as investors’ confidence is high. The stock and cryptocurrency markets are brimming with optimism, and Cardano and XRP are at the center of it all. The SEC’s approval of the XRP ETF is pending, and the decision could make or break Ripple. If the ETF goes through, the sky is the limit for Ripple’s altcoin.
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