Cardano (ADA) Following XRP’s Footsteps on this Week’s Price Reversal
With today’s general market performance [and specifically ADA/USD] it seems like the piece EthereumWorldNews covered on Cardano’s story/origin two days ago was on point. Being one of the only two gaining in double digits is making ADA stand out among top contenders during these times of recovery as it is changing hands at $0.0715 with 12.16% increase in the last 24-hours.
With Ripple’s XRP leading at 17.79% gain for the last day it was just a matter of time before the other top coins by market capitalization would follow positively.
The pair ADA/USD finally made it above the major $0.07200 mark which tanked the price for a week now since the major decline on Sep 12th. Correction could be on its way but looking throughout the market it is very much possible that $0.07200 could hold ground as a strong support.
In an interview with CNBC, Francisco Gonzalez Rodriguez, Executive Chairman of BBVA, explained that cryptos are perfect for the economic system, but because of their characteristics they are also especially attractive for criminals. Parallel with that, Mr. Rodriguez commented very positively on the technology behind the coins calling it also perfect and could turn very useful.
“Cryptocurrencies are perfect, but are used for bad purposes today, so [one has to be] careful. Blockchain and distributed ledger technologies are also perfect, they are big, big tools. But the cryptocurrencies must be understood, [especially] the corner where the malpractices are going.”
Co-founder of the blockchain startup Origin Protocol – Josh Fraser, highlighted that despite of an unwary and volatile market, prices could recover over the next few months. In an email to the financial-focused publication MarketWatch, Fraser wrote:
“Prices will slowly recover some of the losses they experienced in [the first of half of] 2018.”
Explaining why this is the case, Fraser explained that as development efforts shift towards blockchain technologies, and subsequently, crypto assets, the “key pain points” of usability and pricing will start to subside.
For those interested to step-in and collect some ADA in their digital wallet, just recently the ABRA app has announced ADA, TRX and BAT listings on its platform.