Cardano (ADA) Surges Amid Historic Upgrade...Races Alongside XRP

▲ Cardano (ADA)

Cardano (ADA) rebounded 20% after the shock of a sharp decline. At the same time, XRP is once again attracting attention in the altcoin market as 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 shrunk to approximately $5 billion, and it temporarily dropped out of the top 20 cryptocurrencies by market capitalization. Since then, it has rebounded 20% over the past week, once again drawing 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. In addition, the RealFi Phase 1 Testnet, scheduled to launch on July 6, stimulated investor sentiment. Cardano founder Charles Hoskinson called this upgrade “the biggest upgrade in the project's history.”

Analysts also noted the possibility of Cardano's short-term price recovery. X (formerly Twitter) user Sssebi described Cardano as “on fire,” suggesting it could rise to $0.20. Nehal suggested 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 pointed out as a short-term burden.

Cryptocurrency media outlet U.Today reported that the XRP Ledger is close to 1 million autonomous artificial intelligence (AI) agent transactions. According to t54 service data, transactions processed independently by AI agents are rapidly increasing on the XRP Ledger. 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 payment facilitator.”

U.Today analyzed that XRP has surpassed the daily Bollinger Band midline of $1.1112, and the next technical target is the upper band of $1.2320. The key weekly resistance level was presented as $1.3147. Cardano tested the $0.20 and $0.23 range amid upgrade expectations and market rebound, while XRP, driven by expanded AI transactions and technical breakthrough momentum, pushed the $1.30 range to the market's key observation line.

[Key Article Summary]

-Cardano plummeted below $0.14 last month and has since rebounded 20% over the past week.

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

-XRP Ledger approached 1 million AI agent transactions, raising expectations for a break above $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.*