The crypto market has been experiencing a correction phase, with most altcoins struggling to maintain their recent gains. In the top 10 altcoins globally, we have an interesting situation where two coins, XRP and ADA, are priced very similarly.
XRP is currently trading at $0.60, while Cardano’s ADA is priced at $0.58. Let’s find out which altcoin has a better chance of reaching $1. InQubeta also announced its availability on Uniswap following a successful crypto presale.
Cardano’s ADA: Poised to Surpass XRP’s Price
Cardano’s ADA, currently trading at $0.58, has been caught in a sideways channel between $0.40 and $0.80 since its price surge in late November last year, as seen with marked blue lines on the ADA/USDT chart. For ADA to continue its upward trajectory in the current bull run, the coin needs to break out of this channel.
If ADA manages to break out of this channel, the next target could be around the $1.20 area, indicating that ADA has a good chance of successfully breaking the $1 mark.
Looking at the technical indicators, the 200-day moving average for ADA stands at $0.45. This suggests that the coin is trading above its long-term trend line, indicating a bullish signal. Also, if any even more major correction happens, this level might act as a strong support level.
The Relative Strength Index (RSI) is currently at 42, indicating that the asset is in a neutral territory and not yet overbought or oversold, but closer to the latter. The MACD line is close to the MACD signal line, but it has not crossed above it yet, indicating a potential bullish crossover in the near future.
However, the Exponential Moving Average (EMA20) is at $0.61, which is below the current trading price of $0.58. This suggests that the short-term trend is not yet bullish, and ADA may need to consolidate further before attempting a breakout.
Compared to XRP, which has been mostly flat for several months, Cardano appears to have a better chance of reaching the $1 mark. XRP’s price spike in July 2023 after a positive court ruling against the SEC was quickly rejected at the $0.92 level and has not been able to revisit that area since.
This suggests that XRP’s price is heavily influenced by the ongoing legal battle with the SEC, while Cardano’s fundamentals and technical indicators seem to be more conducive to a sustained price increase. Finally, ADA has a smaller market cap than XRP ($20 billion vs $33 billion), which automatically makes it more suitable for “heavy” pumps.
Of course, anything can happen in crypto, and XRP could easily outperform ADA in the future if the SEC rules in Ripple’s favor or if any major news comes out by Ripple that can influence XRP’s price positively.
InQubeta (QUBE): AI Startup Funding
Amidst the broader crypto market correction, a new AI-focused project, InQubeta (QUBE), has recently made its debut. The project successfully completed a crypto presale, raising over $13.3 million and selling 960 million QUBE tokens. The QUBE token is now available for trading on the popular decentralized exchange, Uniswap, on the Ethereum network, as announced by their team on X.
InQubeta (QUBE) is a platform that focuses on crowdfunding for AI startups. It offers users the opportunity to invest in AI projects through its innovative ecosystem powered by the QUBE token, which is an ERC-20 utility and governance token.
The platform’s NFT marketplace allows startups seeking funding to be transformed into NFTs, enabling investors of all sizes to participate in funding rounds. This approach disrupts the traditional investment model, which is typically dominated by well-connected Silicon Valley circles, and opens up opportunities for a more diverse investor base.
The QUBE token serves as the core of InQubeta’s ecosystem, granting holders access to invest in AI startup projects listed on the platform’s NFT marketplace. It is a deflationary ERC-20 asset that fuels the entire ecosystem.
QUBE token holders also actively participate in governance by voting on proposals that shape the future of InQubeta. A 2% buy-and-sell tax is allocated to a burn wallet, while a 5% sell tax is allocated to a reward pool, which provides long-term potential benefits to investors.
Conclusion
While the broader crypto market is currently facing a correction, Cardano’s ADA and the newly launched InQubeta (QUBE) offer promising opportunities for investors. ADA’s technical indicators and the potential to outperform XRP suggest that it could reach the $1 mark, but it may need to consolidate further before attempting a breakout.
Meanwhile, InQubeta’s approach to funding AI startups through its QUBE token-powered ecosystem might potentially present an investment opportunity in the growing AI sector. This goes without saying, but investors should conduct their own research as the whole market waits for the upcoming Bitcoin halving that’s now just days away.
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