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Top Analyst Dan Gambardello predicts Cardano and Ripple reaching $10
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Community questions the feasibility of a price surge this massive
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Market Cap vs. Fundamentals: The debate over what drives crypto market cycles
Top crypto analyst Dan Gambardello stirred the community up with a bullish prediction, suggesting that Cardano (ADA), and XRP, could reach $10 during this market cycle.
Gambardello said, “Cardano, and XRP, both seem like they may hit $10 in this cycle,” adding “That would be okay with me.”
Some were excited by the statement, but others questioned its feasibility. “T” acknowledged Gambardello’s optimism regarding XRP and ADA. T responded by saying that those are “some wild numbers” and that market cycles are more fundamental than price targets.
Related:ADA trading volume explodes, whales pile in: ADA price surge to $2 around the corner?
Can Cardano or XRP reach such high market caps?
Gambardello responded to the skepticism with a comparison of Ethereum’s previous performance. He noted that a $10 ADA would put Cardano’s market cap at around $350 billion.
According to him this massive cap would not be unreasonable given that Ethereum reached $500 billion in market cap during the last cycle. Moreover, he argued, while Ethereum reached a half-trillion dollars in the last cycle, its technology is “not even close to Cardano”, dismissing the $10 price goal for ADA.
The critic countered, however, that price targets shouldn’t be based on historical trends in market capitalization but rather on the actual expansions of blockchain fundamentals. T responded that “fundamentals drive narrative, not arbitrarily set market caps.”
What would it take for Cardano to reach $10?
At the time of this press release, ADA was trading at $0.7114. To reach $10, you would need an incredible growth of 1,305%. Cardano is unable to achieve such a growth, as its annual trajectory shows only a gain of 14.66%.
Cardano’s current price is 77% lower than its previous high of $3.10, which was reached in the last cycle.
Related: Expert Weighs In on XRP $100 Forecast: Can It Achieve Triple-Digit Value
XRP, which is currently trading at $2.40, would need a less dramatic rise in price to reach the $10 mark. XRP must grow by 316% in order to reach $10.
XRP is currently trading at a 37% discount to its previous high of $3.84. XRP has a stunning annual gain of 288%. It’s worth noting that if XRP reached $10, its market capitalization fully diluted would reach a staggering amount of $1 trillion.
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