Ripple’s XRP recently surged nearly 40% in a week, reaching $0.60. Meanwhile, Cardano’s ADA, despite lagging, is poised for a rally.
Market analysts suggest ADA could see a significant uptick soon. On-chain data from Santiment indicates that Cardano is experiencing high bearish sentiment, which could be a profitable opportunity for contrarian traders.
Currently, ADA is trading 1.32% up at $0.4476, with a 17% rise over the past week. Chart analysis shows that Cardano might have hit its bottom, setting the stage for a potential rally.
All eyes are on the upcoming Chang hard fork by the end of July, an upgrade aimed at introducing governance functionality. This could ease adoption and onboarding for new governance roles.
Cardano’s recent upgrade to v6.5.0, compatible with Cardano node 9.0.0, prepares the blockchain for this significant change. The strategic importance of these developments could position Cardano for long-term growth.
