Following a crushing crypto bear market in 2023, glimmers of hope have emerged for two major digital assets: Cardano (ADA) and Ripple (XRP). Recent price action indicates both cryptocurrencies could be on the cusp of powerful bull runs over the next 12–18 months.
However, one primary question arises as to which coin can hit $1 in January 2024. With 2024 here and markets trading in the green, let us find out how these coins are performing.
Cardano’s price performance
Cardano endured a grueling 25-month downturn before finally catching fire this past October. Fueled by pent-up buying power after an extended squeeze, ADA prices vaulted 180% higher in just two months. Now consolidating those gains, Cardano appears ready to commence its next leg up.
Also read: 3 Altcoins Ready for Potential 2024 Breakouts
Zooming out, ADA remains charted along a parabolic curve similar to its epic 2021 surge over $3. After such prolonged compression, analysts say a breakout rally could carry Cardano to new all-time highs by late 2023 or early 2024. Essentially, the harder the fall, the more violently prices tend to snap back. And Cardano seems spring-loaded for such a powerful ricochet.
XRP’s price performance
Meanwhile, XRP prices have chopped sideways for over 30 months after topping out around $1.50. However, despite recent volatility and fading attention, XRP continues to trace a bullish pattern known as an ascending triangle. This suggests building momentum for an eventual upside breakout.
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With XRP holding firmly above several key support levels, analysts expect further consolidation ahead, followed by an explosive move before 2024. A decisive break above stiff overhead resistance around $1 would likely trigger an influx of buyer interest. From there, a rapid return to its 2018 record highs seems feasible.
The prolonged bottoms put in by both Cardano ADA and Ripple XRP imply substantial upside potential ahead. And while nothing is guaranteed in the volatile world of crypto, the technical picture leaves no doubt that huge price waves are brewing. Savvy investors may want to position early before these digital assets potentially go parabolic.
However, according to the prediction by Changelly analysts, both of these coins are unlikely to hit $1 in January or even 2024.
