Despite Slow ADA Price Action, Cardano Holders Remain Positive – Here’s Why

For many months, XRP was considered the most frustrating altcoin to own in this bull run. However, the narrative has shifted significantly in recent weeks.

Cardano price has performed poorly over the last few weeks, lagging behind XRP and other major altcoins. Despite this, many Cardano holders are still optimistic about ADA’s future prospects. Here’s a look at some of the reasons why.

After lagging behind XRP for much of this bull cycle, a recent narrative shift has seen investors flocking back to XRP. While XRP’s price surged to above $0.6, ADA’s price has struggled to gain any momentum.

After both XRP and ADA prices were trading neck and neck in the $0.4-$0.5 range just a few short weeks ago, XRP’s price surged as investors eagerly await any updates on the Ripple vs SEC case. Meanwhile, ADA’s price has taken a hit this week, dropping over 11%.

As both XRP and ADA prices surged in early July, XRP prices were trading at a local high of around $0.58 on July 5. At the same time, ADA prices traded as low as $0.38. However, some key technical indicators pointed to a potential XRP breakout, which occurred later that week.

After surging past $0.62 on July 7, XRP prices continued climbing, reaching a high of $0.64 on July 10. This breakout rally saw XRP prices surge by over 100%, reaching their highest levels since April.

Meanwhile, ADA prices also rallied during the first week of July, surging past $0.42. After reaching a local high of $0.44 on July 5, ADA’s price momentum fizzled out. This led to a downturn in ADA’s price, dropping as low as $0.39 later that week.

After failing to gain any momentum, ADA prices continued dropping at the start of the following week. As XRP prices surged past $0.6, ADA prices fell below $0.4.

Influencer Aleksandra Huk, who boasts over 200k followers on X, recently tweeted about Cardano’s upcoming hard fork, which is due to take place at the end of this month.

Huk, who is known for her cryptocurrency analysis and updates, shared her thoughts on Cardano’s upcoming Chang hard fork in a recent tweet. She highlighted the potential for ADA’s price to surge following the upgrade.

"Cardano is preparing for one of its most significant upgrades. The Chang hard fork is scheduled to take place at the end of July. $ADA will be on fire!"

As Huk anticipates ADA’s price to surge following the Chang hard fork, only time will tell whether her prediction comes to fruition. Keep an eye on Benzinga Crypto for further updates on ADA’s price movements and other relevant cryptocurrency news.

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